Gold Rises to Post Small Weekly Gain

by Christopher Freeburn | December 13, 2013 4:30 pm

[1]Gold reversed course on Friday, rising modestly after tumbling in the previous session. The metal ended the week up 0.5%.

Gold futures for February added 0.8% to $1,234.60 per ounce on Friday, according to CME Group[2]. Gold traded as high as $1,238.10 and as low as $1,219.50. Bullion closed in London at $1,240, according to BullionVault[3].

Silver futures for March delivery moved up 0.8%, to $19.60 per ounce. Friday’s high for silver was $19.74, while the low was $19.28.

Metal funds advanced on Friday.

• The SPDR Gold Shares (GLD[4]) rose 0.9%.
• The iShares Gold Trust (IAU[5]) increased 0.9%.
• The iShares Silver Trust (SLV[6]) climbed 0.8%.

Mining ETFs moved higher during the day.

• The Market Vectors Gold Miners ETF (GDX[7]) added 0.4%.
• The Market Vectors Junior Gold Miners ETF (GDXJ[8]) gained 1.1%.
• The Global X Silver Miners ETF (SIL[9]) was flat.

Gold stocks mostly improved on Friday.

• Agnico-Eagle Mines (AEM[10]) rose 0.7%.
• Barrick Gold (ABX[11]) added 1.7%.
• Eldorado Gold (EGO[12]) gained 0.7%.
• Goldcorp (GG[13]) fell 0.3%.
• Kinross Gold (KGC[14]) sank 0.2%.
• Newmont Mining (NEM[15]) was flat.
• NovaGold Resources (NG[16]) surged 4.4%.
• Yamana Gold (AUY[17]) advanced 0.4%.

Silver mining shares mostly rose during the day.

• Coeur d’Alene Mines (CDE[18]) sank 0.4%.
• Hecla Mining (HL[19]) improved 0.7%.
• Pan American Silver (PAAS[20]) added 0.9%.
• Silver Wheaton (SLW[21]) gained 0.4%.
• Silver Standard Resources (SSRI[22]) climbed 3.6%.

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.

Source URL: https://investorplace.com/2013/12/gold-rises-post-small-weekly-gain/

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