Gold Gains on Stalled Fiscal Cliff Talks

by Christopher Freeburn | November 29, 2012 5:09 pm

Gold Gains on Stalled Fiscal Cliff Talks

PreciousMetalsRecap Gold Gains on Stalled Fiscal Cliff Talks[1]Gold rose in Thursday trading as negotiations between the White House and congressional Republicans over a budget deal for the approaching U.S. fiscal cliff appeared to go nowhere and the U.S. dollar fell against other currencies.

Gold futures for December delivery rose to $1,725.20 on Thursday, according to CME Group[2]. Gold traded as high as $1,729 and as low as $1,717.70. Gold bullion closed in London at $1,729, according to BullionVault[3].

Silver futures for December delivery increased to $34.27 per ounce. Thursday’s high for silver was $34.40, while the low was $33.54.

Gold and silver funds improved in Thursday trading.

Gold and silver mining ETFs rose during the day.

Gold mining shares mostly fell on Thursday, with Yamana Gold (NYSE:AUY[10]) falling the hardest.

Silver mining shares were mixed on Thursday.

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. AUY: http://studio-5.financialcontent.com/investplace/quote?Symbol=AUY
  11. AEM: 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. NG: http://studio-5.financialcontent.com/investplace/quote?Symbol=NG
  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/

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