Gold Rises on Better Jobless Data

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

Gold Rises on Better Jobless Data

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.

Endnotes:
  1. first-time unemployment benefits claims: http://investorplace.com/2012/10/first-time-jobless-claims-hit-four-year-low/
  2. CME Group: http://www.cmegroup.com/
  3. BullionVault: http://www.bullionvault.com/
  4. GLD: http://studio-5.financialcontent.com/investplace/quote?Symbol=GLD
  5. IAU: http://studio-5.financialcontent.com/investplace/quote?Symbol=IAU
  6. SLV: http://studio-5.financialcontent.com/investplace/quote?Symbol=SLV
  7. GDX: http://studio-5.financialcontent.com/investplace/quote?Symbol=GDX
  8. GDXJ: http://studio-5.financialcontent.com/investplace/quote?Symbol=GDXJ
  9. SIL: http://studio-5.financialcontent.com/investplace/quote?Symbol=SIL
  10. NG: http://studio-5.financialcontent.com/investplace/quote?Symbol=NG
  11. AEM: http://studio-5.financialcontent.com/investplace/quote?Symbol=AEM
  12. ABX: http://studio-5.financialcontent.com/investplace/quote?Symbol=ABX
  13. EGO: http://studio-5.financialcontent.com/investplace/quote?Symbol=EGO
  14. GG: http://studio-5.financialcontent.com/investplace/quote?Symbol=GG
  15. KGC: http://studio-5.financialcontent.com/investplace/quote?Symbol=KGC
  16. NEM: http://studio-5.financialcontent.com/investplace/quote?Symbol=NEM
  17. AUY: http://studio-5.financialcontent.com/investplace/quote?Symbol=AUY
  18. CDE: http://studio-5.financialcontent.com/investplace/quote?Symbol=CDE
  19. HL: http://studio-5.financialcontent.com/investplace/quote?Symbol=HL
  20. PAAS: http://studio-5.financialcontent.com/investplace/quote?Symbol=PAAS
  21. SLW: http://studio-5.financialcontent.com/investplace/quote?Symbol=SLW
  22. SSRI: http://studio-5.financialcontent.com/investplace/quote?Symbol=SSRI

Source URL: http://investorplace.com/2012/10/gold-rises-on-better-jobless-data/
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