Gold Gains Checked by Stronger U.S. Dollar

by Christopher Freeburn | August 22, 2013 4:19 pm

Gold Silver GLD IAU SLV[1]Gold edged ever so slightly higher in Thursday trading. The metal gained steam after the HSBC Purchasing Managers’ Index for China showed signs of improved Chinese manufacturing output, but fell back as the U.S. dollar strengthened during the day.

Gold futures for December delivery inched up 0.1% to $1,370.80 per ounce on Thursday, according to CME Group[2]. Gold traded as high as $1,381.40 and as low as $1,354.50. Gold bullion closed in London at $1,374, according to BullionVault[3].

Silver futures for December delivery rose 0.3% to $23.08 per ounce. Thursday’s high for silver was $23.37, while the low was $22.50.

Gold and silver funds gained in Thursday trading.

Gold and silver mining ETFs moved higher during the day.

Gold mining shares mostly advanced on Thursday.

Silver mining shares climbed 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.

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