Gold Climbs as Oil Hits Four-Month High

by Christopher Freeburn | January 17, 2013 5:08 pm

Gold Climbs as Oil Hits Four-Month High

PreciousMetalsRecap Gold Climbs as Oil Hits Four Month High[1]Gold climbed in Thursday trading as crude oil prices hit a four-month high on improved U.S. housing and unemployment data.

Gold futures for February delivery rose about 0.5% to $1,690.80 on Thursday, according to CME Group[2]. Gold traded as high as $1,697.80 and as low as $1,666.40. Gold bullion closed in London at $1,690, according to BullionVault[3].

Silver futures for February delivery rose 0.8% to $31.78 per ounce. Thursday’s high for silver was $31.79, while the low was $31.15 an ounce.

Gold and silver funds gained in Thursday trading.

Gold and silver mining ETFs mostly fell during the day.

Gold mining shares were mostly lower, with NovaGold Resources (AMEX:NG[10]) among the biggest declines.

Silver mining shares were mixed Thursday.

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://investorplace.com/2013/01/weak-jobs-report-lessens-gold-slide/www.cmegroup.com
  3. BullionVault: http://investorplace.com/2013/01/weak-jobs-report-lessens-gold-slide/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. NG: http://studio-5.financialcontent.com/investplace/quote?Symbol=NG
  11. AEM: http://studio-5.financialcontent.com/investplace/quote?Symbol=AEM
  12. ABX: http://studio-5.financialcontent.com/investplace/quote?Symbol=ABX
  13. EGO: http://studio-5.financialcontent.com/investplace/quote?Symbol=EGO
  14. GG: http://studio-5.financialcontent.com/investplace/quote?Symbol=GG
  15. KGC: http://studio-5.financialcontent.com/investplace/quote?Symbol=KGC
  16. NEM: http://studio-5.financialcontent.com/investplace/quote?Symbol=NEM
  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/

Source URL: http://investorplace.com/2013/01/gold-climbs-as-oil-hits-four-month-high/
Short URL: http://invstplc.com/1nv6sut