Gold Climbs as Oil Hits Four-Month High
by Christopher Freeburn | January 17, 2013 5:08 pm
[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.
- The SPDR Gold Trust (NYSE:GLD[4]) rose 0.4%.
- The iShares Gold Trust (NYSE:IAU[5]) also climbed 0.4%.
- The iShares Silver Trust (NYSE:SLV[6]) increased 0.7%.
Gold and silver mining ETFs mostly fell during the day.
- The Market Vectors Gold Miners ETF (NYSE:GDX[7]) declined 0.4%.
- The Market Vectors Junior Gold Miners ETF (NYSE:GDXJ[8]) gained 0.6%.
- The Global X Silver Miners ETF (NYSE:SIL[9]) declined 0.3%.
Gold mining shares were mostly lower, with NovaGold Resources (AMEX:NG[10]) among the biggest declines.
- Agnico-Eagle Mines (NYSE:AEM[11]) slid 0.6%.
- Barrick Gold (NYSE:ABX[12]) dipped 0.2%.
- Eldorado Gold (NYSE:EGO[13]) moved down 0.9%.
- Goldcorp (NYSE:GG[14]) rose 0.1%.
- Kinross Gold (NYSE:KGC[15]) fell 1.4%.
- Newmont Mining (NYSE:NEM[16]) sank 0.7%.
- NovaGold Resources tumbled 2.1%.
- Yamana Gold (NYSE:AUY[17]) slipped 0.7%.
Silver mining shares were mixed Thursday.
- Coeur d’Alene Mines (NYSE:CDE[18]) climbed 1.5%.
- Hecla Mining (NYSE:HL[19]) fell 0.5%.
- Pan American Silver (NASDAQ:PAAS[20]) declined 0.7%.
- Silver Wheaton (NYSE:SLW[21]) rose 0.4%
- Silver Standard Resources (NASDAQ:SSRI[22]) dropped 0.5%.
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.
- [Image]: https://investorplace.com/wp-content/uploads/2011/10/PreciousMetalsRecap.gif
- CME Group: https://investorplace.com/2013/01/weak-jobs-report-lessens-gold-slide/www.cmegroup.com
- BullionVault: https://investorplace.com/2013/01/weak-jobs-report-lessens-gold-slide/www.bullionvault.com
- GLD: http://studio-5.financialcontent.com/investplace/quote?Symbol=GLD
- IAU: http://studio-5.financialcontent.com/investplace/quote?Symbol=IAU
- SLV: http://studio-5.financialcontent.com/investplace/quote?Symbol=SLV
- GDX: http://studio-5.financialcontent.com/investplace/quote?Symbol=GDX
- GDXJ: http://studio-5.financialcontent.com/investplace/quote?Symbol=GDXJ
- SIL: http://studio-5.financialcontent.com/investplace/quote?Symbol=SIL
- NG: http://studio-5.financialcontent.com/investplace/quote?Symbol=NG
- AEM: http://studio-5.financialcontent.com/investplace/quote?Symbol=AEM
- ABX: http://studio-5.financialcontent.com/investplace/quote?Symbol=ABX
- EGO: http://studio-5.financialcontent.com/investplace/quote?Symbol=EGO
- GG: http://studio-5.financialcontent.com/investplace/quote?Symbol=GG
- KGC: http://studio-5.financialcontent.com/investplace/quote?Symbol=KGC
- NEM: http://studio-5.financialcontent.com/investplace/quote?Symbol=NEM
- AUY: http://studio-5.financialcontent.com/investplace/quote?Symbol=AUY
- CDE: http://studio-5.financialcontent.com/investplace/quote?Symbol=CDE
- HL: http://studio-5.financialcontent.com/investplace/quote?Symbol=HL
- PAAS: http://studio-5.financialcontent.com/investplace/quote?Symbol=PAAS
- SLW: http://studio-5.financialcontent.com/investplace/quote?Symbol=SLW
- SSRI: http://studio-5.financialcontent.com/investplace/quote?Symbol=SSRI
- BullionVault: http://www.bullionvault.com/
Source URL: https://investorplace.com/2013/01/gold-climbs-as-oil-hits-four-month-high/