Gold Climbs Modestly on Consumer Price Data

Gold and silver rose, miners mostly gained

   

PreciousMetalsRecap Gold Climbs Modestly on Consumer Price DataGold edged higher in Friday trading as the U.S. dollar fell against other currencies and a government report showed rising consumer prices. The metal posted a small gain for the week.

Gold futures for April delivery inched up 0.1% to $1,592.60 per ounce on Friday, according to CME Group. Gold traded as high as $1,597.90 and as low as $1,587.30. Gold bullion closed in London at $1,595, according to BullionVault.

gold coins scoop 630 flickr 200x200 Gold Climbs Modestly on Consumer Price Data
Look to Gold if the Market Turns

Silver futures for April delivery rose 0.2% to $28.83 per ounce. Friday’s high for silver was $28.96, while the low was $28.72.

Gold and silver funds were mostly higher in Friday trading.

  • The SPDR Gold Trust (NYSE:GLD) climbed 0.2%.
  • The iShares Gold Trust (NYSE:IAU) also rose 0.2%.
  • The iShares Silver Trust (NYSE:SLV) was flat.

Gold and silver mining ETFs moved up during the day.

  • The Market Vectors Gold Miners ETF (NYSE:GDX) rose 0.2%.
  • The Market Vectors Junior Gold Miners ETF (NYSE:GDXJ) increased 1.6%.
  • The Global X Silver Miners ETF (NYSE:SIL) edged up 0.2%.

Gold mining shares mostly gained on Friday.

  • Agnico-Eagle Mines (NYSE:AEM) fell 0.4%.
  • Barrick Gold (NYSE:ABX) rose 0.2%
  • Eldorado Gold (NYSE:EGO) increased 0.9%.
  • Goldcorp (NYSE:GG) was flat.
  • Kinross Gold (NYSE:KGC) slipped 0.4%.
  • Newmont Mining (NYSE:NEM) advanced 0.2%.
  • NovaGold Resources (AMEX:NG) climbed 1.3%.
  • Yamana Gold (NYSE:AUY) slipped 0.1%.

Silver mining shares also mostly advanced.

  • Coeur d’Alene Mines (NYSE:CDE) increased 2%.
  • Hecla Mining (NYSE:HL) rose 1.4%.
  • Pan American Silver (NASDAQ:PAAS) improved 0.7%.
  • Silver Wheaton (NYSE:SLW) dipped 0.8%.
  • Silver Standard Resources (NASDAQ:SSRI) gained 1%.

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.


Article printed from InvestorPlace Media, http://investorplace.com/2013/03/gold-climbs-modestly-on-consumer-price-data/.

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