Gold Posts First Rise in Four Sessions

Gold gained, silver dipped and miners mostly climbed

   

Gold Posts First Rise in Four Sessions

PreciousMetalsRecap Gold Posts First Rise in Four SessionsGold rose in Wednesday trading, spurred by weak demand at an Italian bond auction and dip in the sale of previously-owned U.S. homes. The metal’s gain snapped three straight sessions of declines.

Gold futures for May delivery climbed 0.7% to $1,606.60 per ounce on Wednesday, according to CME Group. Gold traded as high as $1,608 and as low as $1,591.40. Gold bullion closed in London at $1,607, according to BullionVault.

gold and silver 630 200x200 Gold Posts First Rise in Four Sessions
Is It Time to Buy Gold and Silver?

Silver futures for May delivery slipped 0.2% to $28.61 per ounce. Wednesday’s high for silver was $28.79, while the low was $28.08.

Gold and silver funds mostly advanced in Wednesday trading.

  • The SPDR Gold Trust (NYSE:GLD) rose 0.4%.
  • The iShares Gold Trust (NYSE:IAU) gained 0.3%.
  • The iShares Silver Trust (NYSE:SLV) edged down 0.1%.

Gold and silver mining ETFs improved during the day.

  • The Market Vectors Gold Miners ETF (NYSE:GDX) climbed 1.7%.
  • The Market Vectors Junior Gold Miners ETF (NYSE:GDXJ) increased 1.3%.
  • The Global X Silver Miners ETF (NYSE:SIL) advanced 0.9%.

Gold mining shares mostly moved higher on Wednesday.

  • Agnico-Eagle Mines (NYSE:AEM) gained 1.1%.
  • Barrick Gold (NYSE:ABX) rose 2%.
  • Eldorado Gold (NYSE:EGO) advanced 2.6%.
  • Goldcorp (NYSE:GG) climbed 2.5%.
  • Kinross Gold (NYSE:KGC) increased 1.3%.
  • Newmont Mining (NYSE:NEM) added 1.7%.
  • NovaGold Resources (AMEX:NG) dropped 1.5%.
  • Yamana Gold (NYSE:AUY) surged 2.2%.

Silver mining shares posted gains during the day.

  • Coeur d’Alene Mines (NYSE:CDE) rose .03%.
  • Hecla Mining (NYSE:HL) jumped 2%.
  • Pan American Silver (NASDAQ:PAAS) surged 2.2%.
  • Silver Wheaton (NYSE:SLW) climbed 1.4%.
  • Silver Standard Resources (NASDAQ:SSRI) increased 1.2%.

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-posts-first-rise-in-four-sessions/.

©2014 InvestorPlace Media, LLC

Comments are currently unavailable. Please check back soon.