Gold Flat as U.S. Budget Talks Move Forward

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

Gold Flat as U.S. Budget Talks Move Forward

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.

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2011/10/PreciousMetalsRecap.gif
  2. CME Group: http://www.cmegroup.com
  3. BullionVault: http://www.bullionvault.com
  4. GLD: http://studio-5.financialcontent.com/investplace/quote?Symbol=GLD
  5. IAU: http://studio-5.financialcontent.com/investplace/quote?Symbol=IAU
  6. SLV: http://studio-5.financialcontent.com/investplace/quote?Symbol=SLV
  7. GDX: http://studio-5.financialcontent.com/investplace/quote?Symbol=GDX
  8. GDXJ: http://studio-5.financialcontent.com/investplace/quote?Symbol=GDXJ
  9. SIL: http://studio-5.financialcontent.com/investplace/quote?Symbol=SIL
  10. EGO: http://studio-5.financialcontent.com/investplace/quote?Symbol=EGO
  11. AEM: http://studio-5.financialcontent.com/investplace/quote?Symbol=AEM
  12. ABX: http://studio-5.financialcontent.com/investplace/quote?Symbol=ABX
  13. GG: http://studio-5.financialcontent.com/investplace/quote?Symbol=GG
  14. KGC: http://studio-5.financialcontent.com/investplace/quote?Symbol=KGC
  15. NEM: http://studio-5.financialcontent.com/investplace/quote?Symbol=NEM
  16. NG: http://studio-5.financialcontent.com/investplace/quote?Symbol=NG
  17. AUY: http://studio-5.financialcontent.com/investplace/quote?Symbol=AUY
  18. CDE: http://studio-5.financialcontent.com/investplace/quote?Symbol=CDE
  19. HL: http://studio-5.financialcontent.com/investplace/quote?Symbol=HL
  20. PAAS: http://studio-5.financialcontent.com/investplace/quote?Symbol=PAAS
  21. SLW: http://studio-5.financialcontent.com/investplace/quote?Symbol=SLW
  22. SSRI: http://studio-5.financialcontent.com/investplace/quote?Symbol=SSRI
  23. BullionVault: http://www.bullionvault.com/

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