Investors gave gold the cold shoulder on Thursday, sending the metal down again. Gold’s safe-haven appeal has been greatly diminished since Bernanke said the Fed could reduce monthly bond-buying by the end of this year.

While gold tumbles, equities markets are surging, regaining most of the ground lost immediately after Bernanke’s remarks. The U.S. dollar also extended its gains against other currencies during the day.

Gold futures for July delivery dropped 1.5% to $1,211.40 per ounce on Thursday, according to CME Group. Gold traded as high as $1,241.60 and as low as $1,199.50. Gold bullion closed in London at $1,204, according to BullionVault.

Silver futures for July delivery dipped 0.3% to $18.53 per ounce. Thursday’s high for silver was $18.93 while the low was $18.34.

Gold and silver funds declined in Thursday trading.

• The SPDR Gold Trust (GLD) slipped 2%.
• The iShares Gold Trust (IAU) also moved down 2%.
• The iShares Silver Trust (SLV) edged lower 0.1%.

Gold and silver mining ETFs improved during the day.

• The Market Vectors Gold Miners ETF (GDX) rose 2.5%.
• The Market Vectors Junior Gold Miners ETF (GDXJ) gained 2.3%.
• The Global X Silver Miners ETF (SIL) climbed 1.8%.

Gold mining shares mostly advanced on Thursday.

• Agnico-Eagle Mines (AEM) added 1%.
• Barrick Gold (ABX) rose 0.6%.
• Eldorado Gold (EGO) climbed 1.4%.
• Goldcorp (GG) moved up 2%.
• Kinross Gold (KGC) increased 1.8%.
• Newmont Mining (NEM) also improved 1.8%.
• NovaGold Resources (NG) fell 0.5%.
• Yamana Gold (AUY) surged 2.3%.

Silver mining shares recovered during the day.

• Coeur d’Alene Mines (CDE) soared 5.7%.
• Hecla Mining (HL) gained 2.3%.
• Pan American Silver (PAAS) climbed 5.3%.
• Silver Wheaton (SLW) rose 2.9%.
• Silver Standard Resources (SSRI) added 2.3%.

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.