Gold Gains As Investors Wait for Fed Signals

by Christopher Freeburn | January 14, 2013 5:02 pm

Gold Gains As Investors Wait for Fed Signals

PreciousMetalsRecap Gold Gains As Investors Wait for Fed Signals[1]Gold advanced modestly in Monday trading as investors awaited new hints from Federal Reserve officials regarding the strength and duration of economic stimulus efforts for the rest of the year.

Gold futures for February delivery climbed 0.5% to $1,669.40 on Monday, according to CME Group[2]. Gold traded as high as $1,674.80 and as low as $1,659.50. Gold bullion closed in London at $1,670, according to BullionVault[3].

Silver futures for February delivery gained 2.3% to $31.08 per ounce. Monday’s high for silver was $31.12, while the low was $30.58.

Gold and silver funds advanced slightly in Monday trading.

Gold and silver mining ETFs mostly rose during the day.

Gold mining shares were mostly down, with Goldcorp (NYSE:GG[10]) bucking the trend.

Silver mining shares mostly moved higher 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.


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. GG: http://studio-5.financialcontent.com/investplace/quote?Symbol=GG
  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. KGC: http://studio-5.financialcontent.com/investplace/quote?Symbol=KGC
  15. NEM: http://studio-5.financialcontent.com/investplace/quote?Symbol=NEM
  16. NG: http://studio-5.financialcontent.com/investplace/quote?Symbol=NG
  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/

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