Gold Inches Higher on Weaker U.S. Dollar, Equities

Silver dipped, but miners mostly moved modestly higher

   

Gold Inches Higher on Weaker U.S. Dollar, Equities

Gold posted a slight gain in Thursday trading as equities markets stalled and the U.S. dollar softened against other currencies.

PreciousMetalsRecap Gold Inches Higher on Weaker U.S. Dollar, EquitiesGold futures for February delivery rose 0.2% to $1,240.20 per ounce on Thursday, according to CME Group. Gold traded as high as $1,244.90 and as low as $1,235.80. Bullion closed in London at $1,244, according to BullionVault.

gold bars Gold Inches Higher on Weaker U.S. Dollar, Equities
All That Glitters Is Not Goldcorp – GG

Silver futures for March delivery sank 0.4%, to $20.5 per ounce. Thursday’s high for silver was $20.25, while the low was $19.97.

Metal funds were mixed on Thursday.

  • The SPDR Gold Shares (GLD) added 0.1%.
  • The iShares Gold Trust (IAU) rose 0.2%.
  • The iShares Silver Trust (SLV) dipped 0.4%.

Mining ETFs improved during the day.

  • The Market Vectors Gold Miners ETF (GDX) increased 1%.
  • The Market Vectors Junior Gold Miners ETF (GDXJ) climbed 1.5%.
  • The Global X Silver Miners ETF (SIL) moved up 1.7%.

Gold stocks mostly climbed on Thursday.

  • Agnico-Eagle Mines (AEM) fell 1%.
  • Barrick Gold (ABX) rose 0.9%.
  • Eldorado Gold (EGO) jumped 3.6%.
  • Goldcorp (GG) added 0.6%.
  • Kinross Gold (KGC) increased 0.8%.
  • Newmont Mining (NEM) gained 1.6%.
  • NovaGold Resources (NG) moved up 0.4%.
  • Yamana Gold (AUY) improved 0.8%.

Silver mining shares mostly advanced during the day.

  • Coeur d’Alene Mines (CDE) dipped 0.5%.
  • Hecla Mining (HL) added 0.6%.
  • Pan American Silver (PAAS) rose 1%.
  • Silver Wheaton (SLW) increased 1.2%.
  • Silver Standard Resources (SSRI) moved up 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.


Article printed from InvestorPlace Media, http://investorplace.com/2014/01/gold-inches-higher-weaker-u-s-dollar-equities/.

©2014 InvestorPlace Media, LLC

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