Gold Jumps, Ends Week Up More than 4%

Silver vaulted higher and miners rose across the board

   

PreciousMetalsRecap 150x150 Gold Jumps, Ends Week Up More than 4%Gold extended its week-long rally on Friday, rising for an eighth consecutive session. The precious metal closed out the week with a gain of 4.4%.

Gold futures for April delivery added 1.4%, rising to $1,318.60 per ounce on Friday, according to CME Group. Gold traded as high as $1,321.50 and as low as $1,299.90. Bullion closed in London at $1,319, according to BullionVault.

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5 Mining Stocks to Buy Amid the Surge in Silver and Gold

Silver futures for March delivery soared 5% to $21.42 per ounce. Friday’s high for silver was $21.44, while the low was $20.45.

Metal funds climbed on Friday.

  • The SPDR Gold Shares (GLD) rose 1.3%.
  • The iShares Gold Trust (IAU) added 1.3%.
  • The iShares Silver Trust (SLV) surged 4.6%.

Mining ETFs gained during the day.

  • The Market Vectors Gold Miners ETF (GDX) increased 1.8%.
  • The Market Vectors Junior Gold Miners ETF (GDXJ) moved up 3.7%.
  • The Global X Silver Miners ETF (SIL) rose 3.2%.

Gold stocks advanced on Friday.

  • Agnico-Eagle Mines (AEM) rose 1%.
  • Barrick Gold (ABX) moved up 1.2%.
  • Eldorado Gold (EGO) inched up 0.6%.
  • Goldcorp (GG) added 2.1%.
  • Kinross Gold (KGC) increased 1.4%.
  • Newmont Mining (NEM) gained 1.4%.
  • NovaGold Resources (NG) surged 4.9%.
  • Yamana Gold (AUY) moved up 3%.

Silver mining shares improved during the day.

  • Coeur d’Alene Mines (CDE) rose 2%.
  • Hecla Mining (HL) jumped 4.2%.
  • Pan American Silver (PAAS) added 1.1%.
  • Silver Wheaton (SLW) climbed 2.6%.
  • Silver Standard Resources (SSRI) surged 4.8%.

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/2014/02/gold-jumps-ends-week-4/.

©2014 InvestorPlace Media, LLC

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