Gold Inches Up Ahead of December Jobs Report

Silver climbed, but mining stocks mostly dropped

   

Gold Inches Up Ahead of December Jobs Report

PreciousMetalsRecap Gold Inches Up Ahead of December Jobs ReportGold gained slightly in Thursday trading, breaking a three-session losing streak. The metal’s gain comes as investors await the release of the Labor Department’s December jobs report on Friday morning.

Gold futures for February delivery rose 0.3% to $1,229.40 per ounce on Thursday, according to CME Group. Gold traded as high as $1,230.90 and as low as $1,222.80. Bullion closed in London at $1,230, according to BullionVault.

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Silver futures for March delivery climbed 0.7%, to $19.68 per ounce. Thursday’s high for silver was $19.71, while the low was $19.38.

Metal funds improved on Thursday.

  • The SPDR Gold Shares (GLD) moved up 0.3%.
  • The iShares Gold Trust (IAU) added 0.2%.
  • The iShares Silver Trust (SLV) was flat.

Mining ETFs sank during the day.

  • The Market Vectors Gold Miners ETF (GDX) fell 1.5%.
  • The Market Vectors Junior Gold Miners ETF (GDXJ) dropped 2.1%.
  • The Global X Silver Miners ETF (SIL) slid 2.3%.

Gold stocks mostly declined on Thursday.

  • Agnico-Eagle Mines (AEM) dropped 3%.
  • Barrick Gold (ABX) fell 1.3%.
  • Eldorado Gold (EGO) slid 2.6%.
  • Goldcorp (GG) rose 1.3%.
  • Kinross Gold (KGC) sank 2.4%.
  • Newmont Mining (NEM) faded 0.9%.
  • NovaGold Resources (NG) was flat.
  • Yamana Gold (AUY) slumped 3.1%.

Silver mining shares retreated during the day.

  • Coeur d’Alene Mines (CDE) tumbled 4.4%.
  • Hecla Mining (HL) dropped 3.8%.
  • Pan American Silver (PAAS) fell 1.4%.
  • Silver Wheaton (SLW) sank 3.3%.
  • Silver Standard Resources (SSRI) pulled back 2.9%.

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.


Article printed from InvestorPlace Media, http://investorplace.com/2014/01/gold-inches-ahead-december-jobs-report/.

©2014 InvestorPlace Media, LLC

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