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