Gold Climbs as U.S. Dollar Stalls

Gold and silver improved, while miners mostly fell

   

Gold Climbs as U.S. Dollar Stalls

PreciousMetalsRecap Gold Climbs as U.S. Dollar StallsGold rebounded in Monday trading as the U.S. dollar cooled against other currencies.

The precious metal recovered some of the ground lost in Friday trading after the U.S. posted better-than-expected June employment numbers.

11103054 gold bullion 200x200 Gold Climbs as U.S. Dollar Stalls
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Gold futures for August delivery climbed 1.8% to $1,234.90 per ounce on Monday, according to CME Group. Gold traded as high as $1,237.40 and as low as $1,214.40. Gold bullion closed in London at $1,238, according to BullionVault.

Silver futures for August delivery rose 1.6% to $19.03 per ounce. Monday’s high for silver was $19.23 while the low was $18.71.

Gold and silver funds gained in Monday trading.

  • The SPDR Gold Trust (GLD) rose 1.2%.
  • The iShares Gold Trust (IAU) also climbed 1.2%.
  • The iShares Silver Trust (SLV) added 1.1%.

Gold and silver mining ETFs mostly declined during the day.

  • The Market Vectors Gold Miners ETF (GDX) fell 2.2%.
  • The Market Vectors Junior Gold Miners ETF (GDXJ) rose 0.2%.
  • The Global X Silver Miners ETF (SIL) sank 1%.

Gold mining shares were mostly lower on Monday.

  • Agnico-Eagle Mines (AEM) climbed 3.3%.
  • Barrick Gold (ABX) rose 0.2%.
  • Eldorado Gold (EGO) fell 1.7%.
  • Goldcorp (GG) slid 2%.
  • Kinross Gold (KGC) dropped 3.2%.
  • Newmont Mining (NEM) moved down 2.7%.
  • NovaGold Resources (NG) dipped 0.5%.
  • Yamana Gold (AUY) sank 1.6%.

Silver mining shares mostly slid during the day.

  • Coeur d’Alene Mines (CDE) dropped 3.9%.
  • Hecla Mining (HL) fell 3.2%.
  • Pan American Silver (PAAS) declined 2.2%.
  • Silver Wheaton (SLW) rose 0.1%.
  • Silver Standard Resources (SSRI) sank 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.


Article printed from InvestorPlace Media, http://investorplace.com/2013/07/gold-climbs-as-u-s-dollar-stalls/.

©2014 InvestorPlace Media, LLC

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