Gold Retreats as Greek Debt Talks Resume

Gold futures fell, while silver edged up and miners were mixed

   

PreciousMetalsRecap Gold Retreats as Greek Debt Talks ResumeGold fell modestly in Monday trading as investors awaited the outcome of renewed European talks over Greek debt restructuring.

Gold futures for December delivery slipped to $1,749.10 on Monday, according to CME Group. Gold traded as high as $1,752.30 and as low as $1,746. Gold bullion closed in London at $1,752, according to BullionVault.

Gold185 Gold Retreats as Greek Debt Talks Resume
2 to Buy, 2 to Sell in Precious Metals

Silver futures for December delivery rose to $34.12 per ounce. Monday’s high for silver was $34.23, while the low was $33.89.

Gold and silver funds were mixed in Monday trading.

  • The SPDR Gold Trust (NYSE:GLD) slipped 0.1%.
  • The iShares Gold Trust (NYSE:IAU) also fell 0.1%.
  • The iShares Silver Trust (NYSE:SLV) rose 0.1%.

Gold and silver mining ETFs mostly moved lower during the day.

  • The Market Vectors Gold Miners ETF (NYSE:GDX) was flat.
  • The Market Vectors Junior Gold Miners ETF (NYSE:GDXJ) dipped 0.9%.
  • The Global X Silver Miners ETF (NYSE:SIL) also fell 0.9%.

Gold mining shares were mixed on Monday, with Kinross Gold (NYSE:KGC) rising highest.

  • Agnico-Eagle Mines (NYSE:AEM) rose 1.5%.
  • Barrick Gold (NYSE:ABX) slipped 0.8.
  • Eldorado Gold (NYSE:EGO) edged up 0.1%.
  • Goldcorp (NYSE:GG) dipped 0.8%.
  • Kinross Gold surged 2.8%.
  • Newmont Mining (NYSE:NEM) declined 0.7%.
  • NovaGold Resources (NYSE:NG) rose 0.7%.
  • Yamana Gold (NYSE:AUY) gained 0.1%.

Silver mining shares were mostly lower on Monday.

  • Coeur d’Alene Mines (NYSE:CDE) dropped 1.9%.
  • Hecla Mining (NYSE:HL) slid 0.7%.
  • Pan American Silver (NASDAQ:PAAS) moved down 0.5%.
  • Silver Wheaton (NYSE:SLW) improved 0.1%.
  • Silver Standard Resources (NASDAQ:SSRI) slipped 0.7%.

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.


Article printed from InvestorPlace Media, http://investorplace.com/2012/11/gold-retreats-as-greek-debt-talks-resume/.

©2014 InvestorPlace Media, LLC

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