Gold Posts Weekly Gain of Nearly 4%

Metals dip in Friday trading, and miners end with mixed results

   

Gold Silver GLD IAU SLVGold fell back slightly in Friday trading as investors took profits after yesterday’s sharp rise. Despite today’s dip, the metal closed out the week up 3.7%.

Gold futures for December delivery sank 0.6% to $1,314.60 per ounce on Friday, according to CME Group. Gold traded as high as $1,328.90 and as low as $1,311.20. Bullion closed in London at $1,317, according to BullionVault.

If You Have to Trade Gold, Know This
If You Have to Trade Gold, Know This

Silver futures for December edged down 0.2% to $21.91 per ounce. Friday’s high for silver was $22.05, while the low was $21.74.

Metal funds were mixed in Friday trading.

  • The SPDR Gold Shares (GLD) slid 0.4%.
  • The iShares Gold Trust (IAU) also declined 0.4%.
  • The iShares Silver Trust (SLV) rose 0.3%.

Mining ETFs were also mixed during the day.

  • The Market Vectors Gold Miners ETF (GDX) sank 0.5%.
  • The Market Vectors Junior Gold Miners ETF (GDXJ) dropped 1.4%.
  • The Global X Silver Miners ETF (SIL) added 0.9%.

Gold stocks mostly sank on Friday.

  • Agnico-Eagle Mines (AEM) fell 2.2%.
  • Barrick Gold (ABX) inched up 0.2%.
  • Eldorado Gold (EGO) slid 1.5%.
  • Goldcorp (GG) moved down 0.7%.
  • Kinross Gold (KGC) dipped 0.2%.
  • Newmont Mining (NEM) retreated 0.5%.
  • NovaGold Resources (NG) declined 1.3%.
  • Yamana Gold (AUY) dropped 2%.

Silver mining shares were mixed during the day.

  • Coeur d’Alene Mines (CDE) climbed 1.1%.
  • Hecla Mining (HL) added 0.3%.
  • Pan American Silver (PAAS) edged up 0.1%.
  • Silver Wheaton (SLW) slipped 0.8%.
  • Silver Standard Resources (SSRI) fell 1.2%.

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.


Article printed from InvestorPlace Media, http://investorplace.com/2013/10/gold-posts-weekly-gain-nearly-4/.

©2016 InvestorPlace Media, LLC

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