Gold Retreats as Greek Debt Talks Resume

by Christopher Freeburn | November 26, 2012 4:44 pm

[1]Gold 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[2]. 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[3].

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[4]) slipped 0.1%.
• The iShares Gold Trust (NYSE:IAU[5]) also fell 0.1%.
• The iShares Silver Trust (NYSE:SLV[6]) rose 0.1%.

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

• The Market Vectors Gold Miners ETF (NYSE:GDX[7]) was flat.
• The Market Vectors Junior Gold Miners ETF (NYSE:GDXJ[8]) dipped 0.9%.
• The Global X Silver Miners ETF (NYSE:SIL[9]) also fell 0.9%.

Gold mining shares were mixed on Monday, with Kinross Gold (NYSE:KGC[10]) rising highest.

• Agnico-Eagle Mines (NYSE:AEM[11]) rose 1.5%.
• Barrick Gold (NYSE:ABX[12]) slipped 0.8.
• Eldorado Gold (NYSE:EGO[13]) edged up 0.1%.
• Goldcorp (NYSE:GG[14]) dipped 0.8%.
• Kinross Gold surged 2.8%.
• Newmont Mining (NYSE:NEM[15]) declined 0.7%.
• NovaGold Resources (NYSE:NG[16]) rose 0.7%.
• Yamana Gold (NYSE:AUY[17]) gained 0.1%.

Silver mining shares were mostly lower on Monday.

• Coeur d’Alene Mines (NYSE:CDE[18]) dropped 1.9%.
• Hecla Mining (NYSE:HL[19]) slid 0.7%.
• Pan American Silver (NASDAQ:PAAS[20]) moved down 0.5%.
• Silver Wheaton (NYSE:SLW[21]) improved 0.1%.
• Silver Standard Resources (NASDAQ:SSRI[22]) slipped 0.7%.

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.

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

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