Gold futures for December delivery dropped 2.7% to $1,332.50 per ounce on Friday, according to CME Group. Gold traded as high as $1,368.40 and as low as $1,327.20. Gold bullion closed in London at $1,328, according to BullionVault.
Silver futures for December delivery slid 5.9%to $21.93 per ounce. Friday’s high for silver was $23.18, while the low was $21.78.
Gold and silver funds sank in Friday trading.
- The SPDR Gold Shares (GLD) fell 2.9%.
- The iShares Gold Trust (IAU) also dropped 2.9%.
- The iShares Silver Trust (SLV) tumbled 5.4%.
Gold and silver mining ETFs declined sharply during the day.
- The Market Vectors Gold Miners ETF (GDX) dropped 6.1%.
- The Market Vectors Junior Gold Miners ETF (GDXJ) plunged 9.1%.
- The Global X Silver Miners ETF (SIL) sank 6.4%.
Gold mining shares pulled back on Friday.
- Agnico-Eagle Mines (AEM) fell 6.6%.
- Barrick Gold (ABX) moved down 4.3%.
- Eldorado Gold (EGO) tumbled 9%.
- Goldcorp (GG) dropped 5.5%.
- Kinross Gold (KGC) slid 6.5%.
- Newmont Mining (NEM) declined 5.7%.
- NovaGold Resources (NG) plunged 8.9%.
- Yamana Gold (AUY) decreased 6.8%.
Silver mining shares retreated during the day.
- Coeur d’Alene Mines (CDE) dropped 7.4%.
- Hecla Mining (HL) fell 6%.
- Pan American Silver (PAAS) declined 5.8%.
- Silver Wheaton (SLW) sank 6.3%.
- Silver Standard Resources (SSRI) dipped 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.