Gold Posts Third Straight Gain on Italian Downgrade

by Christopher Freeburn | March 11, 2013 4:33 pm

Gold Silver GLD IAU SLV[1]Gold rose modestly in Monday trading following last week’s trimming of Italy’s credit rating by Fitch Ratings. The downgrade renewed fears that Europe could slide back into economic turmoil. The metal rose for a third consecutive session as U.S. equities hit new record highs.

Gold futures for April delivery edged up slightly to $1,578 per ounce on Monday, according to CME Group[2]. Gold traded as high as $1,582.50 and as low as $1,574.50. Gold bullion closed in London at $1,582, according to BullionVault[3].

Silver futures for April delivery dipped 0.3% to $28.83 per ounce. Monday’s high for silver was $29.01, while the low was $28.74.

Gold and silver funds moved up in Monday trading.

Gold and silver mining ETFs were mixed during the day.

Several individual gold mining shares mostly fell on Monday.

Silver mining shares also mostly retreated.

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.

  1. [Image]:
  2. CME Group:
  3. BullionVault:
  4. GLD:
  5. IAU:
  6. SLV:
  7. GDX:
  8. GDXJ:
  9. SIL:
  10. AEM:
  11. ABX:
  12. EGO:
  13. GG:
  14. KGC:
  15. NEM:
  16. NG:
  17. AUY:
  18. CDE:
  19. HL:
  20. PAAS:
  21. SLW:
  22. SSRI:
  23. BullionVault:

Source URL:
Short URL: