Twitter (TWTR) tanks as Q2 user growth vanishes >>> READ MORE

Gold Rallies After Drop in Jobs Data

Gold and silver futures rise, mining stocks follow suit


Gold Silver GLD IAU SLVAfter falling in early trading on a better-than-expected U.S jobs report for November, gold rallied as investors noted downward revisions for the number of jobs added in prior months and looked ahead to the outcome of next week’s Federal Reserve meeting and possible further stimulus efforts.

Gold futures for December delivery increased to $1703.10 on Friday, according to CME Group. Gold traded as high as $1,704.50 and as low as $1,684. Gold bullion closed in London at $1,707, according to BullionVault.

Gold Juniors Ready to Shine
Gold Juniors Ready to Shine

Silver futures for December delivery increased to $33.04 per ounce. Friday’s high for silver was $33.22, while the low was $32.65.

Gold and silver funds moved higher in Friday trading.

  • The SPDR Gold Trust (NYSE:GLD) rose 0.4%.
  • The iShares Gold Trust (NYSE:IAU) also increased 0.4%.
  • The iShares Silver Trust (NYSE:SLV) gained 0.3%.

Gold and silver mining ETFs rose during the day.

  • The Market Vectors Gold Miners ETF (NYSE:GDX) advanced 0.9%.
  • The Market Vectors Junior Gold Miners ETF (NYSE:GDXJ) also improved 1.1%.
  • The Global X Silver Miners ETF (NYSE:SIL) climbed 1.5%.

Gold mining shares mostly climbed, with NovaGold Resources (NYSE:NG) outpacing the others.

  • Agnico-Eagle Mines (NYSE:AEM) gained 1.2%.
  • Barrick Gold (NYSE:ABX) added 0.5%.
  • Eldorado Gold (NYSE:EGO) slipped 0.3%.
  • Goldcorp (NYSE:GG) advanced 1.4%.
  • Kinross Gold (NYSE:KGC) moved up 0.9%.
  • Newmont Mining (NYSE:NEM) gained 0.3%.
  • NovaGold Resources surged 3.9%.
  • Yamana Gold (NYSE:AUY) increased 0.7%.

Silver mining shares moved higher on Friday.

  • Coeur d’Alene Mines (NYSE:CDE) soared 2.9%.
  • Hecla Mining (NYSE:HL) climbed 1.4%.
  • Pan American Silver (NASDAQ:PAAS) added 1.7%.
  • Silver Wheaton (NYSE:SLW) gained 1.9%.
  • Silver Standard Resources (NASDAQ:SSRI) increased 1.3%.

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.

Article printed from InvestorPlace Media,

©2017 InvestorPlace Media, LLC