Gold Flat as U.S. Budget Talks Move Forward

by Christopher Freeburn | December 17, 2012 4:46 pm

PreciousMetalsRecap Gold Flat as U.S. Budget Talks Move Forward[1]After rising in early Monday trading on comments by the Japanese Prime Minister that sparked hope for more Bank of Japan stimulus spending, gold ended the day almost unchanged.

A second meeting between Speaker of the House John Boehner and President Barack Obama suggested that a deal may be close in U.S. budget negotiations, cooling investor enthusiasm for the metal.

Gold futures for February delivery moved up slightly to $1,699.50 on Monday, according to CME Group[2]. Gold traded as high as $1,701 and as low as $1,687.50. Gold bullion closed in London at $1,701, according to BullionVault[3].

Silver futures for February delivery dipped fractionally to $32.30 per ounce. Monday’s high for silver was $32.40, while the low was $32.14.

Gold and silver funds climbed in Monday trading.

Gold and silver mining ETFs were mixed during the day.

Gold mining shares were also mixed, with Eldorado Gold (NYSE:EGO[10]) rising the highest.

Silver mining shares mostly moved lower 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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  19. HL:
  20. PAAS:
  21. SLW:
  22. SSRI:
  23. BullionVault:

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