Gold Rises on Better Jobless Data

by Christopher Freeburn | October 11, 2012 5:14 pm

A better-than-expected report on first-time unemployment benefits claims[1] 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[2]. 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[3].

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[10]) 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[3] contributed to this report.

  1. first-time unemployment benefits claims:
  2. CME Group:
  3. BullionVault:
  4. GLD:
  5. IAU:
  6. SLV:
  7. GDX:
  8. GDXJ:
  9. SIL:
  10. NG:
  11. AEM:
  12. ABX:
  13. EGO:
  14. GG:
  15. KGC:
  16. NEM:
  17. AUY:
  18. CDE:
  19. HL:
  20. PAAS:
  21. SLW:
  22. SSRI:

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