Gold Rebounds to Post Slight Gain

Silver slipped and mining stocks were mixed

   

Gold Rebounds to Post Slight Gain

PreciousMetalsRecap Gold Rebounds to Post Slight GainGold inched higher on Tuesday, after dropping sharply during the previous session. The metal ended today’s trading with fractional gain ahead of the expiration of April options on Wednesday.

Gold futures for April rose 20 cents to $1,311.40 per ounce on Tuesday, according to CME Group. Gold traded as high as $1,318 and as low as $1,306. Bullion closed in London at $1,314, according to BullionVault.

gold bars Gold Rebounds to Post Slight Gain
Lean Against the Crowd With Gold Stocks and Silver Stocks

Silver futures for May delivery slipped 0.4% to $19.98 per ounce. Tuesday’s high for silver was $20.22, while the low was $19.91.

Metal funds improved on Tuesday.

  • The SPDR Gold Shares (GLD) inched up 0.2%.
  • The iShares Gold Trust (IAU) added 0.1%.
  • The iShares Silver Trust (SLV) increased 0.1%.

Mining ETFs advanced during the day.

  • The Market Vectors Gold Miners ETF (GDX) rose 0.6%.
  • The Market Vectors Junior Gold Miners ETF (GDXJ) climbed 2.1%.
  • The Global X Silver Miners ETF (SIL) gained 1%.

Gold stocks were mixed on Tuesday.

  • Agnico-Eagle Mines (AEM) rose 0.8%.
  • Barrick Gold (ABX) dipped 0.1%.
  • Eldorado Gold (EGO) slipped 0.3%.
  • Goldcorp (GG) fell 0.1%.
  • Kinross Gold (KGC) declined 1.8%.
  • Newmont Mining (NEM) edged up 0.2%.
  • NovaGold Resources (NG) was flat.
  • Yamana Gold (AUY) added 1.5%.

Silver mining shares gained during the day.

  • Coeur d’Alene Mines (CDE) rose 0.2%.
  • Hecla Mining (HL) increased 2.2%.
  • Pan American Silver (PAAS) added 1.3%.
  • Silver Wheaton (SLW) increased 0.8%.
  • Silver Standard Resources (SSRI) advanced 1.8%.

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/2014/03/gold-posts-slight-gain-technical-buying/.

©2014 InvestorPlace Media, LLC

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