by Christopher Freeburn | November 8, 2012 4:57 pm
Gold advanced Thursday on rising investor confidence that the election of President Obama will mean a continuation of current federal efforts to stimulate the U.S. economy.
Gold futures for December delivery rose to $1,726 on Thursday, according to CME Group. Gold traded as high as $1,730.50 and as low as $1,712.60. Gold bullion closed in London at $1,735, according to BullionVault.
Silver futures for December delivery also gained, closing up at $32.24 per ounce. Thursday’s high for silver was $32.29, while the low was $31.63.
Gold and silver funds advanced in Thursday trading.
Gold and silver mining ETFs were mixed during the day.
Gold mining shares were mostly higher on Thursday, with Kinross Gold (NYSE:KGC) jumping ahead of the pack.
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 contributed to this report.
Source URL: http://investorplace.com/2012/11/gold-moves-higher-on-stimulus-confidence/
Short URL: http://invstplc.com/1nE8KYz
Copyright ©2015 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.