by Christopher Freeburn | October 11, 2012 5:14 pm
A better-than-expected report on first-time unemployment benefits claims in the U.S. sent gold higher in Thursday trading.
Gold futures for December delivery increased to $1,770.60 on Thursday, according to CME Group. Gold traded as high as $1,776.60 and as low as $1,760.20. Gold bullion closed in London at $1,771.00, according to BullionVault.
Silver futures for December delivery fell, closing down at $34.08 per ounce. Thursday’s high for silver was $34.38, while the low was $33.82.
Gold and silver funds were mixed in Thursday trading.
Gold and silver mining ETFs increased during the day.
Gold mining shares closed mostly up on Thursday, with NovaGold Resources (NYSE:NG) rising the most.
Silver mining shares mostly gained in Thursday trading.
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.
Source URL: http://investorplace.com/2012/10/gold-rises-on-better-jobless-data/
Short URL: http://invstplc.com/1fToVgh
Copyright ©2015 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.