Gold Edges Higher on Weakening U.S. Dollar

by Christopher Freeburn | November 19, 2013 4:38 pm

PreciousMetalsRecap Gold Edges Higher on Weakening U.S. Dollar[1]Gold futures gained fractionally in Tuesday trading as increasing investor confidence that the Federal Reserve will maintain economic stimulus efforts over the near term drove the U.S. dollar down against other currencies.

Gold futures for December delivery rose 0.1% to $1,273.50 per ounce on Tuesday, according to CME Group[2]. Gold traded as high as $1,278.20 and as low as $1,268. Bullion closed in London at $1,276, according to BullionVault[3].

Silver futures for December dipped 0.1% to $20.33 per ounce. Tuesday’s high for silver was $20.48, while the low was $20.20.

Metal funds were mixed in Tuesday trading.

Mining ETFs mostly declined during the day.

Gold stocks mostly improved on Tuesday.

Silver mining shares were mixed during the day.

As of this writing, Christopher Freeburn did not hold a position in any of the aforementioned securities. Adrian Ash of BullionVault[23] contributed to this report.

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