Gold Slips on Profit-Taking

by Christopher Freeburn | August 19, 2013 4:16 pm

Gold Silver GLD IAU SLV[1]Gold took a breather on Monday, falling back slightly after last week’s almost 5% rise, as investors looked to cash in on profits. Silver also cooled after surging 14% during the prior week.

Gold futures for December delivery dipped 0.4% to $1,365.70 per ounce on Monday, according to CME Group[2]. Gold traded as high as $1,384.10 and as low as $1,362. Gold bullion closed in London at $1,370, according to BullionVault[3].

Silver futures for December delivery sank 0.7% to $23.22 per ounce. Monday’s high for silver was $23.64, while the low was $23.01.

Gold and silver funds declined slightly in Monday trading.

Gold and silver mining ETFs moved lower during the day.

Gold mining shares mostly sank on Monday.

Silver mining shares slumped 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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