Gold Falls on Greece’s Debt Woes

by Christopher Freeburn | November 13, 2012 5:32 pm

Gold Silver GLD IAU SLV[1]Squabbling by European leaders over measures to cut Greece’s debt undermined investor confidence in the eurozone, sending gold down in Tuesday trading.

Gold futures for December delivery dropped to $1,724.80 on Tuesday, according to CME Group[2]. Gold traded as high as $1,733.30 and as low as $1,717.60. Gold bullion closed in London at $1,728, according to BullionVault[3].

Silver futures for December delivery fell slightly to $32.49 per ounce. Tuesday’s high for silver was $32.83, while the low was $32.10.

Gold and silver funds were mixed in Tuesday trading.

Gold and silver mining ETFs pulled back during the day.

Gold mining shares were mostly lower on Tuesday, with Kinross Gold (NYSE:KGC[10]) falling the most.

Silver mining shares mostly retreated on Tuesday.

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.

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  23. BullionVault:

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