by Christopher Freeburn | December 19, 2012 5:17 pm
Institutional profit-taking and lingering uncertainty over the prospects of a U.S. budget deal combined to send gold down slightly in Wednesday trading, hitting its lowest level since August 30.
Gold futures for February delivery fell modestly to $1,668.20 on Wednesday, according to CME Group. Gold traded as high as $1,677.80 and as low as $1,664.20. Gold bullion closed in London at $1,669, according to BullionVault.
Silver futures for February delivery sank 1.7% to $31.09 per ounce. Wednesday’s high for silver was $31.79, while the low was $31.06.
Gold and silver funds sank in Wednesday trading.
Gold and silver mining ETFs also moved lower during the day.
Gold mining shares retreated, with Eldorado Gold (NYSE:EGO) falling the most.
Silver mining shares fell on Wednesday.
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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