Gold futures for December delivery dropped 1.2% to $1,396.10 per ounce on Friday, according to CME Group. Gold traded as high as $1,411.50 and as low as $1,391.80. Gold bullion closed in London at $1,398, according to BullionVault.
Silver futures for December delivery slid 2.6% to $23.51 per ounce. Friday’s high for silver was $24.07, while the low was $23.41.
Gold and silver funds sank in Friday trading.
- The SPDR Gold Shares (GLD) fell 0.9%.
- The iShares Gold Trust (IAU) slipped 1%.
- The iShares Silver Trust (SLV) dropped 1.7%.
Gold and silver mining ETFs moved lower during the day.
- The Market Vectors Gold Miners ETF (GDX) declined 1.5%.
- The Market Vectors Junior Gold Miners ETF (GDXJ) slid 1.9%.
- The Global X Silver Miners ETF (SIL) slumped 1.5%.
Gold mining shares declined on Friday.
- Agnico-Eagle Mines (AEM) fell 1.4%.
- Barrick Gold (ABX) sank 2.7%.
- Eldorado Gold (EGO) slipped 1%.
- Goldcorp (GG) decreased 1.4%.
- Kinross Gold (KGC) dipped 0.2%.
- Newmont Mining (NEM) also slid 0.2%.
- NovaGold Resources (NG) moved down 0.4%.
- Yamana Gold (AUY) pulled back 1.1%.
Silver mining shares retreated during the day.
- Coeur d’Alene Mines (CDE) dipped 1.3%.
- Hecla Mining (HL) sank 1.7%.
- Pan American Silver (PAAS) fell 1.4%.
- Silver Wheaton (SLW) declined 1.1%.
- Silver Standard Resources (SSRI) tumbled 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.