Gold Inches Up Ahead of December Jobs Report
by Christopher Freeburn | January 9, 2014 4:39 pm
[1]Gold 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[2]. 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[3].
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[4]) moved up 0.3%.
- The iShares Gold Trust (IAU[5]) added 0.2%.
- The iShares Silver Trust (SLV[6]) was flat.
Mining ETFs sank during the day.
- The Market Vectors Gold Miners ETF (GDX[7]) fell 1.5%.
- The Market Vectors Junior Gold Miners ETF (GDXJ[8]) dropped 2.1%.
- The Global X Silver Miners ETF (SIL[9]) slid 2.3%.
Gold stocks mostly declined on Thursday.
- Agnico-Eagle Mines (AEM[10]) dropped 3%.
- Barrick Gold (ABX[11]) fell 1.3%.
- Eldorado Gold (EGO[12]) slid 2.6%.
- Goldcorp (GG[13]) rose 1.3%.
- Kinross Gold (KGC[14]) sank 2.4%.
- Newmont Mining (NEM[15]) faded 0.9%.
- NovaGold Resources (NG[16]) was flat.
- Yamana Gold (AUY[17]) slumped 3.1%.
Silver mining shares retreated during the day.
- Coeur d’Alene Mines (CDE[18]) tumbled 4.4%.
- Hecla Mining (HL[19]) dropped 3.8%.
- Pan American Silver (PAAS[20]) fell 1.4%.
- Silver Wheaton (SLW[21]) sank 3.3%.
- Silver Standard Resources (SSRI[22]) 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[23] contributed to this report.
Endnotes:
- [Image]: https://investorplace.com/wp-content/uploads/2011/10/PreciousMetalsRecap.gif
- CME Group: http://www.cmegroup.com
- BullionVault: http://www.bullionvault.com
- GLD: http://studio-5.financialcontent.com/investplace/quote?Symbol=GLD
- IAU: http://studio-5.financialcontent.com/investplace/quote?Symbol=IAU
- SLV: http://studio-5.financialcontent.com/investplace/quote?Symbol=SLV
- GDX: http://studio-5.financialcontent.com/investplace/quote?Symbol=GDX
- GDXJ: http://studio-5.financialcontent.com/investplace/quote?Symbol=GDXJ
- SIL: http://studio-5.financialcontent.com/investplace/quote?Symbol=SIL
- AEM: http://studio-5.financialcontent.com/investplace/quote?Symbol=AEM
- ABX: http://studio-5.financialcontent.com/investplace/quote?Symbol=ABX
- EGO: http://studio-5.financialcontent.com/investplace/quote?Symbol=EGO
- GG: http://studio-5.financialcontent.com/investplace/quote?Symbol=GG
- KGC: http://studio-5.financialcontent.com/investplace/quote?Symbol=KGC
- NEM: http://studio-5.financialcontent.com/investplace/quote?Symbol=NEM
- NG: http://studio-5.financialcontent.com/investplace/quote?Symbol=NG
- AUY: http://studio-5.financialcontent.com/investplace/quote?Symbol=AUY
- CDE: http://studio-5.financialcontent.com/investplace/quote?Symbol=CDE
- HL: http://studio-5.financialcontent.com/investplace/quote?Symbol=HL
- PAAS: http://studio-5.financialcontent.com/investplace/quote?Symbol=PAAS
- SLW: http://studio-5.financialcontent.com/investplace/quote?Symbol=SLW
- SSRI: http://studio-5.financialcontent.com/investplace/quote?Symbol=SSRI
- BullionVault: http://www.bullionvault.com/
Source URL: https://investorplace.com/2014/01/gold-inches-ahead-december-jobs-report/