Gold Rises as the U.S. Dollar Falls

by Christopher Freeburn | December 3, 2012 4:59 pm

Gold Silver GLD IAU SLV[1]Gold rose in Monday trading after the dollar fell to a six-week low against the euro on rising concerns that the U.S. will not avoid the fiscal cliff and signs that Greece may successfully restructure its debt.

Gold futures for December delivery rose to $1,716.50 on Monday, according to CME Group[2]. Gold traded as high as $1,721.90 and as low as $1,714.50. Gold bullion closed in London at $1,720, according to BullionVault[3].

Silver futures for December delivery rose to $33.64 per ounce. Monday’s high for silver was $33.85, while the low was $33.41.

Gold and silver funds fell in Monday trading.

Gold and silver mining ETFs dipped during the day.

Gold mining shares retreated on Monday, with Goldcorp (NYSE:GG[10]) falling the hardest.

Silver mining shares 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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  2. CME Group:
  3. BullionVault:
  4. GLD:
  5. IAU:
  6. SLV:
  7. GDX:
  8. GDXJ:
  9. SIL:
  10. GG:
  11. AEM:
  12. ABX:
  13. EGO:
  14. KGC:
  15. NEM:
  16. NG:
  17. AUY:
  18. CDE:
  19. HL:
  20. PAAS:
  21. SLW:
  22. SSRI:
  23. BullionVault:

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