[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.
- The SPDR Gold Trust (GLD[4]) slid 0.4%.
- The iShares Gold Trust (IAU[5]) also dipped 0.4%.
- The iShares Silver Trust (SLV[6]) was flat.
Gold and silver mining ETFs moved lower during the day.
- The Market Vectors Gold Miners ETF (GDX[7]) fell 1.9%.
- The Market Vectors Junior Gold Miners ETF (GDXJ[8]) decreased 0.9%.
- The Global X Silver Miners ETF (SIL[9]) tumbled 2.8%.
Gold mining shares mostly sank on Monday.
- Agnico-Eagle Mines (AEM[10]) edged down 0.1%.
- Barrick Gold (ABX[11]) slid 0.5%.
- Eldorado Gold (EGO[12]) dropped 2.3%.
- Goldcorp (GG[13]) fell 0.3%.
- Kinross Gold (KGC[14]) tumbled 3.6%.
- Newmont Mining (NEM[15]) declined 0.9%.
- NovaGold Resources (NG[16]) pulled back 2.9%.
- Yamana Gold (AUY[17]) climbed 0.6%.
Silver mining shares slumped during the day.
- Coeur d’Alene Mines (CDE[18]) slumped 3.5%.
- Hecla Mining (HL[19]) retreated 3.2%.
- Pan American Silver (PAAS[20]) dropped 3%.
- Silver Wheaton (SLW[21]) declined 0.9%.
- Silver Standard Resources (SSRI[22]) fell 1%.
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.