by Christopher Freeburn | November 19, 2012 4:54 pm
Gold gained about 1% in Monday trading as investors shook off fears of a renewed global downturn. Improving sentiment was buoyed by optimism over Greek debt negotiations and the prospect of a political compromise regarding the U.S. fiscal cliff.
Gold futures for December delivery jumped to $1,732.10 on Monday, according to CME Group. Gold traded as high as $1,735.50 and as low as $1,713.40. Gold bullion closed in London at $1,734, according to BullionVault.
Silver futures for December delivery rose to $33.13 per ounce. Monday’s high for silver was $33.22, while the low was $32.29.
Gold and silver funds moved higher in Monday trading.
Gold and silver mining ETFs advanced during the day.
Gold mining shares gained on Monday, with Agnico-Eagle Mines (NYSE:AEM) rising the most.
Silver mining shares also rose on Monday.
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.
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