by Christopher Freeburn | October 17, 2012 5:07 pm
Gold edged higher in Wednesday trading as buyers took advantage of recent price declines and the U.S. dollar weakened relative to other currencies.
Gold futures for December delivery rose to $1,753 on Wednesday, according to CME Group. Gold traded as high as $1,755 and as low as $1,744. Gold bullion closed in London at $1,752, according to BullionVault.
Silver futures for December delivery also closed up at $33.23 per ounce. Wednesday’s high for silver was $33.30, while the low was $32.88.
Gold and silver funds rose in Wednesday trading.
Gold and silver mining ETFs posted gains during the day.
Gold mining shares moved higher on Wednesday, with Eldorado Gold (NYSE:EGO) rising the highest.
Silver mining shares advanced in Wednesday 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-shows-modest-gains-on-softer-dollar/
Short URL: http://invstplc.com/1nJYA8D
Copyright ©2015 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.