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Gold Gains for Third Consecutive Session

Silver moved up and miners mostly advanced


Gold Silver GLD IAU SLVGold inched up in Thursday trading, rising for the third straight session.

Gold futures for February delivery added 0.3% to $1,251.10 per ounce on Monday, according to CME Group. Gold traded as high as $1,255.30 and as low as $1,243. Bullion closed in London at $1,251, according to BullionVault.

Will Gold’s Latest Rally Stick?
Will Gold’s Latest Rally Stick?

Silver futures for March delivery increased 0.8%, to $20.39 per ounce. Monday’s high for silver was $20.47, while the low was $19.96.

Metal funds improved on Monday.

  • The SPDR Gold Shares (GLD) rose 0.6%.
  • The iShares Gold Trust (IAU) climbed 0.7%.
  • The iShares Silver Trust (SLV) gained 1.6%.

Mining ETFs advanced during the day.

  • The Market Vectors Gold Miners ETF (GDX) added 2.9%.
  • The Market Vectors Junior Gold Miners ETF (GDXJ) surged 5.8%.
  • The Global X Silver Miners ETF (SIL) grew 2.9%.

Gold stocks mostly climbed on Monday.

  • Agnico-Eagle Mines (AEM) jumped 5%.
  • Barrick Gold (ABX) edged up 0.1%.
  • Eldorado Gold (EGO) surged 5%.
  • Goldcorp (GG) sank 0.3%.
  • Kinross Gold (KGC) added 1.8%.
  • Newmont Mining (NEM) inched up 0.3%.
  • NovaGold Resources (NG) improved 4.7%.
  • Yamana Gold (AUY) gained 2.8%.

Silver mining shares moved higher during the day.

  • Coeur d’Alene Mines (CDE) added 1.9%.
  • Hecla Mining (HL) increased 2.1%.
  • Pan American Silver (PAAS) gained 1.8%.
  • Silver Wheaton (SLW) rosed 2%.
  • Silver Standard Resources (SSRI) improved 2.1%.

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.

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