Gold Posts First Rise in Four Sessions

by Christopher Freeburn | March 27, 2013 4:36 pm

Gold Silver GLD IAU SLV[1]Gold 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[2]. 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[3].

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.

Gold and silver mining ETFs improved during the day.

Gold mining shares mostly moved higher on Wednesday.

Silver mining shares posted gains during the day.

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.

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  23. BullionVault:

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