Gold Moves Higher on Stimulus Confidence

by Christopher Freeburn | November 8, 2012 4:57 pm

PreciousMetalsRecap Gold Moves Higher on Stimulus Confidence[1]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[2]. 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[3].

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[10]) 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[23] contributed to this report.

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  2. CME Group:
  3. BullionVault:
  4. GLD:
  5. IAU:
  6. SLV:
  7. GDX:
  8. GDXJ:
  9. SIL:
  10. KGC:
  11. AEM:
  12. ABX:
  13. EGO:
  14. GG:
  15. NEM:
  16. NG:
  17. AUY:
  18. CDE:
  19. HL:
  20. PAAS:
  21. SLW:
  22. SSRI:
  23. BullionVault:

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