National parks and other federal government operations closed their doors as congressional Republicans and the White House remained in a stand-off over GOP attempts to link continued federal funding to a delay in the implementation of the Affordable Care Act, a key provision of which launched today.
Gold futures for December delivery fell 3.1% to $1,286.10 per ounce on Tuesday, according to CME Group. Gold traded as high as $1,337.80 and as low as $1,282.40. Bullion closed in London at $1,291, according to BullionVault.
Silver futures for December delivery dropped 2.5% to $21.18 per ounce. Tuesday’s high for silver was $21.97, while the low was $20.63.
Metal funds dropped in Tuesday trading.
- The SPDR Gold Shares (GLD) sank 2.8%.
- The iShares Gold Trust (IAU) also fell 2.8%.
- The iShares Silver Trust (SLV) declined 2.4%.
Mining ETFs pulled back during the day.
- The Market Vectors Gold Miners ETF (GDX) dropped 2.4%.
- The Market Vectors Junior Gold Miners ETF (GDXJ) slid 3.2%.
- The Global X Silver Miners ETF (SIL) dipped 2.1%.
Gold mining shares declined on Tuesday.
- Agnico-Eagle Mines (AEM) fell 3.2%.
- Barrick Gold (ABX) slid 2.6%.
- Eldorado Gold (EGO) sank 1.9%.
- Goldcorp (GG) dropped 3%.
- Kinross Gold (KGC) moved down 2.4%.
- Newmont Mining (NEM) pulled back 3.2%.
- NovaGold Resources (NG) waned 1.7%.
- Yamana Gold (AUY) decreased 3%.
Silver mining shares sank during the day.
- Coeur d’Alene Mines (CDE) slid 1.5%.
- Hecla Mining (HL) fell 2.2%.
- Pan American Silver (PAAS) retreated 2.4%.
- Silver Wheaton (SLW) dropped 2.7%.
- Silver Standard Resources (SSRI) declined 1.8%.
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.