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Gold Dips for Sixth Consecutive Session

Gold dipped, silver was unchanged and miners were mixed


Gold Silver GLD IAU SLVGold fell modestly on Thursday, marking the sixth consecutive session decline for the precious metal. Gold continued its decline even after a series of weak economic reports caused the U.S. dollar to stall against other currencies.

Gold futures for June delivery slid 0.7% to $1,386.90 per ounce on Thursday, according to CME Group. Gold traded as high as $1,397 and as low as $1,368. Gold bullion closed in London at $1,389, according to BullionVault.

Deciding if You Should You Go For the Gold
Deciding if You Should You Go For the Gold

Silver futures for June delivery were flat at $22.65 per ounce. Thursday’s high for silver was $22.75 while the low was $22.07.

Gold and silver funds were mixed in Thursday trading.

  • The SPDR Gold Trust (NYSE:GLD) dipped 0.4%.
  • The iShares Gold Trust (NYSE:IAU) also moved down 0.4%.
  • The iShares Silver Trust (NYSE:SLV) climbed 0.9%.

Gold and silver mining ETFs were mostly higher during the day.

  • The Market Vectors Gold Miners ETF (NYSE:GDX) rose 0.4%.
  • The Market Vectors Junior Gold Miners ETF (NYSE:GDXJ) gained 0.7%.
  • The Global X Silver Miners ETF (NYSE:SIL) slipped 0.1%.

Gold mining shares were mixed on Thursday.

  • Agnico-Eagle Mines (NYSE:AEM) climbed 2.9%.
  • Barrick Gold (NYSE:ABX) sank 0.9%.
  • Eldorado Gold (NYSE:EGO) rose 1.5%.
  • Goldcorp (NYSE:GG) fell 1.6%.
  • Kinross Gold (NYSE:KGC) climbed 2.8%.
  • Newmont Mining (NYSE:NEM) slipped 0.4%.
  • NovaGold Resources (AMEX:NG) dropped 2.2%.
  • Yamana Gold (NYSE:AUY) slid 0.5%.

Silver mining shares mostly gained during the day.

  • Coeur d’Alene Mines (NYSE:CDE) dipped 0.4%.
  • Hecla Mining (NYSE:HL) rose 3.9%.
  • Pan American Silver (NASDAQ:PAAS) added 1.1%.
  • Silver Wheaton (NYSE:SLW) climbed 1.8%.
  • Silver Standard Resources (NASDAQ:SSRI) rose 0.5%.

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,

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