Gold Shows Modest Gains on Softer Dollar

by Christopher Freeburn | October 17, 2012 5:07 pm

Gold Shows Modest Gains on Softer Dollar

PreciousMetalsRecap Gold Shows Modest Gains on Softer DollarGold 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[1]. Gold traded as high as $1,755 and as low as $1,744. Gold bullion closed in London at $1,752, according to BullionVault[2].

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[9]) 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[22] contributed to this report.

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

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