Gold Rebounds as U.S. Dollar, Equities Drop

by Christopher Freeburn | June 12, 2013 4:48 pm

Gold Rebounds as U.S. Dollar, Equities Drop

PreciousMetalsRecap Gold Rebounds as U.S. Dollar, Equities Drop[1]Gold climbed in Wednesday trading, countering a downward trend among global equities markets and a sliding U.S. dollar. Worldwide markets continued to sink on the heels of yesterday’s refusal by the Bank of Japan to increase stimulus efforts. The Japanese central bank’s move stoked investor uncertainty about whether the U.S. Federal Reserve will wind down its own economic stimulus efforts before the end of this year.

Gold futures for July delivery jumped 1.1% to $1,392.10 per ounce on Wednesday, according to CME Group[2]. Gold traded as high as $1,393.80 and as low as $1,373.20. Gold bullion closed in London at $1,391, according to BullionVault[3].

Silver futures for July delivery rose 0.7% to $21.80 per ounce. Wednesday’s high for silver was $21.95 while the low was $21.46.

Gold and silver funds moved higher in Wednesday trading.

Gold and silver mining ETFs were mixed during the day.

Gold mining shares mostly gained on Wednesday.

Silver mining shares mostly increased during the day.

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.

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2011/10/PreciousMetalsRecap.gif
  2. CME Group: http://www.cmegroup.com
  3. BullionVault: http://investorplace.com/2013/01/weak-jobs-report-lessens-gold-slide/www.bullionvault.com
  4. GLD: http://studio-5.financialcontent.com/investplace/quote?Symbol=GLD
  5. IAU: http://studio-5.financialcontent.com/investplace/quote?Symbol=IAU
  6. SLV: http://studio-5.financialcontent.com/investplace/quote?Symbol=SLV
  7. GDX: http://studio-5.financialcontent.com/investplace/quote?Symbol=GDX
  8. GDXJ: http://studio-5.financialcontent.com/investplace/quote?Symbol=GDXJ
  9. SIL: http://studio-5.financialcontent.com/investplace/quote?Symbol=SIL
  10. AEM: http://studio-5.financialcontent.com/investplace/quote?Symbol=AEM
  11. ABX: http://studio-5.financialcontent.com/investplace/quote?Symbol=ABX
  12. EGO: http://studio-5.financialcontent.com/investplace/quote?Symbol=EGO
  13. GG: http://studio-5.financialcontent.com/investplace/quote?Symbol=GG
  14. KGC: http://studio-5.financialcontent.com/investplace/quote?Symbol=KGC
  15. NEM: http://studio-5.financialcontent.com/investplace/quote?Symbol=NEM
  16. NG: http://studio-5.financialcontent.com/investplace/quote?Symbol=NG
  17. AUY: http://studio-5.financialcontent.com/investplace/quote?Symbol=AUY
  18. CDE: http://studio-5.financialcontent.com/investplace/quote?Symbol=CDE
  19. HL: http://studio-5.financialcontent.com/investplace/quote?Symbol=HL
  20. PAAS: http://studio-5.financialcontent.com/investplace/quote?Symbol=PAAS
  21. SLW: http://studio-5.financialcontent.com/investplace/quote?Symbol=SLW
  22. SSRI: http://studio-5.financialcontent.com/investplace/quote?Symbol=SSRI
  23. BullionVault: http://www.bullionvault.com/

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