The Commerce Department reported that consumer spending climbed a seasonally-adjusted 0.5% in November, matching economists’ predictions. That marked the highest gain in consumer spending since June.
Gold futures for February delivery fell 0.6% to $1,197 per ounce on Monday, according to CME Group. Gold traded as high as $1,205.60 and as low as $1,191.80. Bullion closed in London at $1,197, according to BullionVault.
Silver futures for March delivery slipped 0.2%, to $19.41 per ounce. Monday’s high for silver was $19.52, while the low was $19.27.
Metal funds were mixed on Monday.
- The SPDR Gold Shares (GLD) fell 0.3%.
- The iShares Gold Trust (IAU) dipped 0.2%.
- The iShares Silver Trust (SLV) gained 0.6%.
Mining ETFs declined during the day.
- The Market Vectors Gold Miners ETF (GDX) sank 0.7%.
- The Market Vectors Junior Gold Miners ETF (GDXJ) dropped 1.5%.
- The Global X Silver Miners ETF (SIL) slid 0.6%.
Gold stocks were mixed on Monday.
- Agnico-Eagle Mines (AEM) added 0.9%.
- Barrick Gold (ABX) moved up 0.5%.
- Eldorado Gold (EGO) fell 0.4%.
- Goldcorp (GG) edged up 0.1%.
- Kinross Gold (KGC) rose 0.5%.
- Newmont Mining (NEM) fell 0.7%.
- NovaGold Resources (NG) slid 0.9%.
- Yamana Gold (AUY) gained 0.1%.
Silver mining shares mostly climbed during the day.
- Coeur d’Alene Mines (CDE) rose 0.6.
- Hecla Mining (HL) increased 1.1%.
- Pan American Silver (PAAS) climbed 1.2%.
- Silver Wheaton (SLW) fell 0.4%.
- Silver Standard Resources (SSRI) sank 0.6%.
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.