Gold futures for June delivery gained 0.9% to $1,391.30 per ounce on Wednesday, according to CME Group. Gold traded as high as $1,393.80 and as low as $1,379.10. Gold bullion closed in London at $1,393, according to BullionVault.
Silver futures for June delivery rose 1.2% to $22.44 per ounce. Wednesday’s high for silver was $22.46 while the low was $22.12.
Gold and silver funds advanced in Wednesday trading.
- The SPDR Gold Trust (GLD) added 1%.
- The iShares Gold Trust (IAU) also increased 1%.
- The iShares Silver Trust (SLV) rose 0.8%.
Gold and silver mining ETFs jumped during the day.
- The Market Vectors Gold Miners ETF (GDX) climbed 4.7%.
- The Market Vectors Junior Gold Miners ETF (GDXJ) surged 5.3%.
- The Global X Silver Miners ETF (SIL) gained 3.5%.
Gold mining shares improved sharply on Wednesday.
- Agnico-Eagle Mines (AEM) soared 7.5%.
- Barrick Gold (ABX) advanced 4.6%.
- Eldorado Gold (EGO) rose 4.9%.
- Goldcorp (GG) gained 4.6%.
- Kinross Gold (KGC) added 3.5%.
- Newmont Mining (NEM) increased 3.2%.
- NovaGold Resources (NG) moved up 4.4%.
- Yamana Gold (AUY) climbed 3.8%.
Silver mining shares also rose strongly during the day.
- Coeur d’Alene Mines (CDE) gained 3.2%.
- Hecla Mining (HL) surged 11.4%.
- Pan American Silver (PAAS) rose 3.7%.
- Silver Wheaton (SLW) increased 4%.
- Silver Standard Resources (SSRI) jumped 9.2%.
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.