Gold Jumps, Ends Week Up More than 4%

by Christopher Freeburn | February 14, 2014 4:32 pm

[1]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[2]. 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[3].

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[4]) rose 1.3%.
• The iShares Gold Trust (IAU[5]) added 1.3%.
• The iShares Silver Trust (SLV[6]) surged 4.6%.

Mining ETFs gained during the day.

• The Market Vectors Gold Miners ETF (GDX[7]) increased 1.8%.
• The Market Vectors Junior Gold Miners ETF (GDXJ[8]) moved up 3.7%.
• The Global X Silver Miners ETF (SIL[9]) rose 3.2%.

Gold stocks advanced on Friday.

• Agnico-Eagle Mines (AEM[10]) rose 1%.
• Barrick Gold (ABX[11]) moved up 1.2%.
• Eldorado Gold (EGO[12]) inched up 0.6%.
• Goldcorp (GG[13]) added 2.1%.
• Kinross Gold (KGC[14]) increased 1.4%.
• Newmont Mining (NEM[15]) gained 1.4%.
• NovaGold Resources (NG[16]) surged 4.9%.
• Yamana Gold (AUY[17]) moved up 3%.

Silver mining shares improved during the day.

• Coeur d’Alene Mines (CDE[18]) rose 2%.
• Hecla Mining (HL[19]) jumped 4.2%.
• Pan American Silver (PAAS[20]) added 1.1%.
• Silver Wheaton (SLW[21]) climbed 2.6%.
• Silver Standard Resources (SSRI[22]) surged 4.8%.

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.

Source URL: https://investorplace.com/2014/02/gold-jumps-ends-week-4/

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