Gold Rises Slightly After ADP Report

by Christopher Freeburn | October 3, 2012 4:52 pm

PreciousMetalsRecap Gold Rises Slightly After ADP Report[1]Despite falling crude oil prices and a stronger U.S. dollar, gold moved up slightly on Wednesday after payroll processor ADP delivered a better-than-expected report on the U.S. jobs market[2].

Gold futures for December delivery rose to $1,779.80 on Wednesday, according to CME Group[3]. Gold traded as high as $1,784 and as low as $1,773. Gold bullion closed in London at $1,780, according to BullionVault[4].

Silver futures for December delivery also edged higher, closing up at $34.69 per ounce. Wednesday’s high for silver was $34.90, while the low was $34.515.

Gold and silver funds trended up in Wednesday trading.

Gold and silver mining ETFs moved lower during the day.

Gold mining shares mostly fell on Wednesday, with Eldorado Gold (NYSE:EGO[11]) posting the sharpest decline.

Silver mining shares declined in Wednesday trading.

As of this writing, Christopher Freeburn did not hold a position in any of the aforementioned securities. Adrian Ash of BullionVault[4] contributed to this report.

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2011/10/PreciousMetalsRecap.gif
  2. ADP delivered a better-than-expected report on the U.S. jobs market: http://investorplace.com/2012/10/adp-companies-added-162k-workers-in-september/
  3. CME Group: http://www.cmegroup.com/
  4. BullionVault: http://www.bullionvault.com/
  5. GLD: http://studio-5.financialcontent.com/investplace/quote?Symbol=GLD
  6. IAU: http://studio-5.financialcontent.com/investplace/quote?Symbol=IAU
  7. SLV: http://studio-5.financialcontent.com/investplace/quote?Symbol=SLV
  8. GDX: http://studio-5.financialcontent.com/investplace/quote?Symbol=GDX
  9. GDXJ: http://studio-5.financialcontent.com/investplace/quote?Symbol=GDXJ
  10. SIL: http://studio-5.financialcontent.com/investplace/quote?Symbol=SIL
  11. EGO: http://studio-5.financialcontent.com/investplace/quote?Symbol=EGO
  12. AEM: http://studio-5.financialcontent.com/investplace/quote?Symbol=AEM
  13. ABX: http://studio-5.financialcontent.com/investplace/quote?Symbol=ABX
  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. NG: http://studio-5.financialcontent.com/investplace/quote?Symbol=NG
  18. AUY: http://studio-5.financialcontent.com/investplace/quote?Symbol=AUY
  19. CDE: http://studio-5.financialcontent.com/investplace/quote?Symbol=CDE
  20. HL: http://studio-5.financialcontent.com/investplace/quote?Symbol=HL
  21. PAAS: http://studio-5.financialcontent.com/investplace/quote?Symbol=PAAS
  22. SLW: http://studio-5.financialcontent.com/investplace/quote?Symbol=SLW
  23. SSRI: http://studio-5.financialcontent.com/investplace/quote?Symbol=SSRI

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