Gold 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.
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.