Gold Cools on Bernanke Housing Remarks

by Christopher Freeburn | November 16, 2012 4:40 pm

Gold Cools on Bernanke Housing Remarks

PreciousMetalsRecap Gold Cools on Bernanke Housing Remarks [1]Gold ended the week down about 1% as investors digested discouraging remarks from Federal Reserve Chairman Ben Bernanke on credit challenges facing a recoverying the U.S. housing market.

Gold futures for December delivery edged up to $1,714.7 on Friday, according to CME Group[2]. Gold traded as high as $1,717.20 and as low as $1,705.60. Gold bullion closed in London at $1,716, according to BullionVault[3].

Silver futures for December delivery slipped to $32.37 per ounce. Friday’s high for silver was $32.68, while the low was $32.02.

Gold and silver funds moved lower in Friday trading.

Gold and silver mining ETFs improved during the day.

Gold mining shares gained on Friday, with NovaGold Resources (NYSE:NG[10]) rising highest.

Silver mining shares also rose on Friday.

As of this writing, Christopher Freeburn did not hold a position in any of the aforementioned securities. Adrian Ash of BullionVault[23] contributed to this report.

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2011/10/PreciousMetalsRecap.gif
  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. AEhM: 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
  23. BullionVault: http://www.bullionvault.com/

Source URL: http://investorplace.com/2012/11/gold-cools-on-bernanke-housing-remarks/
Short URL: http://invstplc.com/1nH8fwQ