by Christopher Freeburn | October 22, 2012 4:54 pm
Gold prices recovered some of Friday’s losses on Monday as bargain hunters entered the market and construction equipment-maker Caterpillar (NYSE:CAT) trimmed its profit outlook for the year, renewing concerns about the anemic U.S. economy.
Gold futures for December delivery edged higher to $1,726.30 on Monday, according to CME Group. Gold traded as high as $1,730.30 and as low as $1,714.40. Gold bullion closed in London at $1,731, according to BullionVault.
Silver futures for December delivery also closed up at $32.25 per ounce. Monday’s high for silver was $32.48, while the low was $31.70.
Gold and silver funds rose in Monday trading.
Gold and silver mining ETFs were higher during the day.
Gold mining shares climbed on Monday, with Agnico-Eagle Mines (NYSE:AEM) advancing the most.
Silver mining shares traded higher on Monday.
As of this writing, Christopher Freeburn did not hold a position in any of the aforementioned securities. Adrian Ash of BullionVault contributed to this report.
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