Gold Retreats as Greek Debt Talks Resume

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Gold Silver GLD IAU SLVGold 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.

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, https://investorplace.com/2012/11/gold-retreats-as-greek-debt-talks-resume/.

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