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Gold Futures Gain in Weak-Volume Session

Funds and miners a mixed bag of minimal moves


Gold Silver GLD IAU SLVGold futures edged higher in a session marked by low trading volume due to the Bank Day holiday in London.

Comments from European Central Bank President Mario Draghi, signaling a willingness to cut interest rates even more to keep the eurozone economy from stalling, had little effect on traders.

Send These 2 Gold Miners Packing
Send These 2 Gold Miners Packing

Gold futures for June delivery climbed 0.2% to $1,468 per ounce on Monday, according to CME Group. Gold traded as high as $1,478.40 and as low as $1,463.80. Gold bullion closed in London at $1,472, according to BullionVault.

Silver futures for June delivery slipped 0.2% to $23.94 per ounce. Monday’s high for silver was $24.37, while the low was $23.82.

Gold and silver funds were listless in Monday trading.

  • The SPDR Gold Trust (NYSE:GLD) was flat.
  • The iShares Gold Trust (NYSE:IAU) was unchanged.
  • The iShares Silver Trust (NYSE:SLV) fell 0.5%.

Gold and silver mining ETFs were mixed during the day.

  • The Market Vectors Gold Miners ETF (NYSE:GDX) was unchanged.
  • The Market Vectors Junior Gold Miners ETF (NYSE:GDXJ) rose 0.3%.
  • The Global X Silver Miners ETF (NYSE:SIL) sank 1.1%.

Gold mining shares were also mixed on Monday.

  • Agnico-Eagle Mines (NYSE:AEM) slid 0.9%.
  • Barrick Gold (NYSE:ABX) climbed 1.8%.
  • Eldorado Gold (NYSE:EGO) fell 1.8%.
  • Goldcorp (NYSE:GG) was flat.
  • Kinross Gold (NYSE:KGC) dipped 0.4%.
  • Newmont Mining (NYSE:NEM) rose 0.2%.
  • NovaGold Resources (AMEX:NG) dropped 2%.
  • Yamana Gold (NYSE:AUY) inched up 0.1%.

Silver mining shares mostly retreated.

  • Coeur d’Alene Mines (NYSE:CDE) dropped 0.7%.
  • Hecla Mining (NYSE:HL) declined 1.2%.
  • Pan American Silver (NASDAQ:PAAS) slumped 1.4%.
  • Silver Wheaton (NYSE:SLW) sank 1%.
  • Silver Standard Resources (NASDAQ:SSRI) gained 2.4%.

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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