by Christopher Freeburn | January 29, 2013 4:38 pm
Gold moved higher in Tuesday trading, snapping four straight sessions of declines, as speculation grew that the Federal Open Market Committee meeting would lead to a renewed commitment to stimulus efforts to boost the U.S. economy.
Gold futures for March delivery gained almost 0.5% to $1,661.70 on Tuesday, according to CME Group. Gold traded as high as $1665.80 and as low as $1654.60. Gold bullion closed in London at $1,666, according to BullionVault.
Silver futures for March delivery rose 1.3% to $31.18 per ounce. Tuesday’s high for silver was $31.47 an ounce, while the low was $30.85.
Gold and silver funds advanced in Tuesday trading.
Gold and silver mining ETFs moved higher during the day.
Gold mining shares moved higher, with Eldorado Gold (NYSE:EGO) bucking the trend and falling.
Silver mining shares increased on Tuesday.
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.
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