Gold Stationary as Fiscal Cliff Looms

by Christopher Freeburn | November 12, 2012 5:13 pm

Gold Silver GLD IAU SLV[1]Unease over the U.S. fiscal cliff and European debt problems offset rising demand in India and increasing prospects for new Japanese economic stimulus, leaving gold unchanged in Monday trading.

Gold futures for December delivery closed flat at $1,730.90 on Monday, according to CME Group[2]. Gold traded as high as $1,738 and as low as $1,725.20. Gold bullion closed in London at $1,731, according to BullionVault[3].

Silver futures for December delivery fell slightly to $32.52 per ounce. Monday’s high for silver was $32.75, while the low was $32.18.

Gold and silver funds fell in Monday trading.

Gold and silver mining ETFs pulled back during the day.

Gold mining shares were mostly lower on Monday, with Eldorado Gold (NYSE:EGO[10]) falling the most.

Silver mining shares pulled back on Monday.

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.

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  2. CME Group:
  3. BullionVault:
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  20. PAAS:
  21. SLW:
  22. SSRI:
  23. BullionVault:

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