Gold Recovers on Weaker U.S. Economic Data

by Christopher Freeburn | November 14, 2012 5:11 pm

Gold Silver GLD IAU SLV[1]Gold rose as investors mulled weaker-than-expected U.S. retail sales in October[2], rising violence around Syria and continued delays in implementing Greece’s latest bailout.

Gold futures for December delivery rose to $1,730.10 on Wednesday, according to CME Group[3]. 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[4].

Silver futures for December delivery increased to $32.88 per ounce. Wednesday’s high for silver was $32.90, while the low was $32.37.

Gold and silver funds were mostly stationary in Wednesday trading.

Gold and silver mining ETFs retreated during the day.

Gold mining shares moved lower on Wedesday, with NovaGold Resources (NYSE:NG[11]) falling the most.

Silver mining shares retreated on Wednesday.

As of this writing, Christopher Freeburn did not hold a position in any of the aforementioned securities. Adrian Ash of BullionVault[24] contributed to this report.

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

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