Gold Climbs as Oil Hits Four-Month High

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

Gold Silver GLD IAU SLV[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.

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  10. NG:
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  20. PAAS:
  21. SLW:
  22. SSRI:
  23. BullionVault:

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