Gold Dips for Fourth Consecutive Session, Nears Six-Month Low

by Christopher Freeburn | February 19, 2013 4:37 pm

Gold Silver GLD IAU SLV[1]Growing confidence in the U.S. economy and expectations that the Federal Reserve might reduce economic stimulus efforts sent gold down modestly in Tuesday trading, its fourth consecutive losing session. Gold’s safe haven appeal has seemed to wane as U.S. equity markets play around five-year highs.

Gold futures for March delivery slipped 0.3% to $1,603.60 per ounce on Tuesday, according to CME Group[2]. Gold traded as high as $1,617.90 and as low as $1,600.30. Gold bullion closed in London at $1,608, according to BullionVault[3].

Silver futures for March delivery dropped 1.4% to $29.42 per ounce. Tuesday’s high for silver was $30.15, while the low was $29.18.

Gold and silver funds moved lower in Tuesday trading.

Gold and silver mining ETFs also declined during the day.

Gold mining shares mostly slumped on Tuesday.

Silver mining shares also headed lower.

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]: https://investorplace.com/wp-content/uploads/2011/10/PreciousMetalsRecap.gif
  2. CME Group: https://investorplace.com/2013/01/weak-jobs-report-lessens-gold-slide/www.cmegroup.com
  3. BullionVault: https://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. AEM: http://studio-5.financialcontent.com/investplace/quote?Symbol=AEM
  11. ABX: http://studio-5.financialcontent.com/investplace/quote?Symbol=ABX
  12. EGO: http://studio-5.financialcontent.com/investplace/quote?Symbol=EGO
  13. GG: http://studio-5.financialcontent.com/investplace/quote?Symbol=GG
  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/

Source URL: https://investorplace.com/2013/02/gold-dips-for-fourth-consecutive-session-nears-six-month-low/