Gold Dips for Sixth Consecutive Session
by Christopher Freeburn | May 16, 2013 4:46 pm
[1]Gold 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[2]. Gold traded as high as $1,397 and as low as $1,368. Gold bullion closed in London at $1,389, according to BullionVault[3].
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[4]) dipped 0.4%.
- The iShares Gold Trust (NYSE:IAU[5]) also moved down 0.4%.
- The iShares Silver Trust (NYSE:SLV[6]) climbed 0.9%.
Gold and silver mining ETFs were mostly higher during the day.
- The Market Vectors Gold Miners ETF (NYSE:GDX[7]) rose 0.4%.
- The Market Vectors Junior Gold Miners ETF (NYSE:GDXJ[8]) gained 0.7%.
- The Global X Silver Miners ETF (NYSE:SIL[9]) slipped 0.1%.
Gold mining shares were mixed on Thursday.
- Agnico-Eagle Mines (NYSE:AEM[10]) climbed 2.9%.
- Barrick Gold (NYSE:ABX[11]) sank 0.9%.
- Eldorado Gold (NYSE:EGO[12]) rose 1.5%.
- Goldcorp (NYSE:GG[13]) fell 1.6%.
- Kinross Gold (NYSE:KGC[14]) climbed 2.8%.
- Newmont Mining (NYSE:NEM[15]) slipped 0.4%.
- NovaGold Resources (AMEX:NG[16]) dropped 2.2%.
- Yamana Gold (NYSE:AUY[17]) slid 0.5%.
Silver mining shares mostly gained during the day.
- Coeur d’Alene Mines (NYSE:CDE[18]) dipped 0.4%.
- Hecla Mining (NYSE:HL[19]) rose 3.9%.
- Pan American Silver (NASDAQ:PAAS[20]) added 1.1%.
- Silver Wheaton (NYSE:SLW[21]) climbed 1.8%.
- Silver Standard Resources (NASDAQ:SSRI[22]) rose 0.5%.
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.
- [Image]: https://investorplace.com/wp-content/uploads/2011/10/PreciousMetalsRecap.gif
- CME Group: http://www.cmegroup.com
- BullionVault: https://investorplace.com/2013/01/weak-jobs-report-lessens-gold-slide/www.bullionvault.com
- GLD: http://studio-5.financialcontent.com/investplace/quote?Symbol=GLD
- IAU: http://studio-5.financialcontent.com/investplace/quote?Symbol=IAU
- SLV: http://studio-5.financialcontent.com/investplace/quote?Symbol=SLV
- GDX: http://studio-5.financialcontent.com/investplace/quote?Symbol=GDX
- GDXJ: http://studio-5.financialcontent.com/investplace/quote?Symbol=GDXJ
- SIL: http://studio-5.financialcontent.com/investplace/quote?Symbol=SIL
- AEM: http://studio-5.financialcontent.com/investplace/quote?Symbol=AEM
- ABX: http://studio-5.financialcontent.com/investplace/quote?Symbol=ABX
- EGO: http://studio-5.financialcontent.com/investplace/quote?Symbol=EGO
- GG: http://studio-5.financialcontent.com/investplace/quote?Symbol=GG
- KGC: http://studio-5.financialcontent.com/investplace/quote?Symbol=KGC
- NEM: http://studio-5.financialcontent.com/investplace/quote?Symbol=NEM
- NG: http://studio-5.financialcontent.com/investplace/quote?Symbol=NG
- AUY: http://studio-5.financialcontent.com/investplace/quote?Symbol=AUY
- CDE: http://studio-5.financialcontent.com/investplace/quote?Symbol=CDE
- HL: http://studio-5.financialcontent.com/investplace/quote?Symbol=HL
- PAAS: http://studio-5.financialcontent.com/investplace/quote?Symbol=PAAS
- SLW: http://studio-5.financialcontent.com/investplace/quote?Symbol=SLW
- SSRI: http://studio-5.financialcontent.com/investplace/quote?Symbol=SSRI
- BullionVault: http://www.bullionvault.com/
Source URL: https://investorplace.com/2013/05/gold-dips-for-sixth-consecutive-session/