Senate leaders were in furious negotiations all morning and signaled during the afternoon that a deal had been reached, though no vote had yet been taken.
Gold futures for December delivery climbed 0.7% to $1,282.30 per ounce on Wednesday, according to CME Group. Gold traded as high as $1,289.20 and as low as $1,268.60. Bullion closed in London at $1,282, according to BullionVault.
Silver futures for December moved up 0.8% to $21.37 per ounce. Wednesday’s high for silver was $21.45, while the low was $21.12.
Metal funds edged lower in Wednesday trading.
- The SPDR Gold Shares (GLD) slipped 0.2%.
- The iShares Gold Trust (IAU) also dipped 0.2%.
- The iShares Silver Trust (SLV) fell 0.2%.
Mining ETFs declined during the day.
- The Market Vectors Gold Miners ETF (GDX) dropped 2.1%.
- The Market Vectors Junior Gold Miners ETF (GDXJ) sank 1.1%.
- The Global X Silver Miners ETF (SIL) slid 0.9%.
Gold mining shares pulled back on Wednesday.
- Agnico-Eagle Mines (AEM) dropped 3.1%.
- Barrick Gold (ABX) slid 0.8%.
- Eldorado Gold (EGO) fell 2.4%.
- Goldcorp (GG) moved down 1.6%.
- Kinross Gold (KGC) slipped 2.1%.
- Newmont Mining (NEM) decreased 0.8%.
- NovaGold Resources (NG) retreated 1.4%.
- Yamana Gold (AUY) declined 2%.
Silver mining shares fell during the day.
- Coeur d’Alene Mines (CDE) dipped 0.5%.
- Hecla Mining (HL) inched up 0.2%.
- Pan American Silver (PAAS) dropped 1%.
- Silver Wheaton (SLW) sank 0.9%.
- Silver Standard Resources (SSRI) declined 1.4%.
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.