by Christopher Freeburn | August 26, 2013 4:21 pm
Gold rose in Monday trading after the government reported a sharp drop U.S. durable goods orders in July, but the rally stalled and gold settled slightly lower for the session. Investors speculate that weaker economic reports could force the Federal Reserve to delay any tapering of the Fed’s monthly bond-buying. The precious metal briefly topped $1,400 an ounce before retreating.
Gold futures for December delivery slipped 0.2% to $1,393.10 per ounce on Monday, according to CME Group. Gold traded as high as $1,407 and as low as $1,388.40. Gold bullion closed in London at $1,399, according to BullionVault.
Silver futures for December delivery climbed 1.2% to $24.06 per ounce. Monday’s high for silver was $24.47, while the low was $23.85.
Gold and silver funds improved in Monday trading.
Gold and silver mining ETFs climbed during the day.
Gold mining shares moved higher on Monday.
Silver mining shares mostly gained during the day.
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.
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