Gold and Silver Report: Gold Prices Fall on Ukraine Diplomatic Agreement

The yellow metal has slipped back below $1,300 an ounce

   

Gold and Silver Report: Gold Prices Fall on Ukraine Diplomatic Agreement

Gold dropped modestly in Thursday trading after Ukraine and Russia reached a preliminary agreement to reduce tensions during negotiations in Switzerland. The talks included U.S. and European Union representatives. Gold prices have climbed in recent weeks as violence in Ukraine boosted the metal’s safe-haven appeal.

PreciousMetalsRecap Gold and Silver Report: Gold Prices Fall on Ukraine Diplomatic AgreementGold futures for June delivery sank 0.7% to $1,293.90 per ounce on Thursday, according to CME Group. Gold prices were as high as $1,304.40 and as low as $1,292.80. Bullion closed in London at $1,295, according to BullionVault.

11103054 gold bullion 200x200 Gold and Silver Report: Gold Prices Fall on Ukraine Diplomatic Agreement
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Silver futures for May delivery dipped 0.2% to settle at $19.60 per ounce. Thursday’s high for silver was $19.72, while the low was $19.49.

Here’s how metal-based funds and mining stocks fared on Thursday:

Gold and Silver Funds

  • The SPDR Gold Shares (GLD) slid 0.6%.
  • The iShares Gold Trust (IAU) fell 0.6%.
  • The iShares Silver Trust (SLV) was flat.

Gold and Silver Mining ETFs

  • The Market Vectors Gold Miners ETF (GDX) sank 1%.
  • The Market Vectors Junior Gold Miners ETF (GDXJ) declined 2.2%.
  • The Global X Silver Miners ETF (SIL) faded 1.2%.

Gold Miners

  • Agnico Eagle Mines (AEM) climbed 1.8%.
  • Barrick Gold (ABX) fell 1.8%.
  • Eldorado Gold (EGO) rose 0.5%.
  • Goldcorp (GG) sank 0.9%.
  • Kinross Gold (KGC) slid 0.7%.
  • Newmont Mining (NEM) dropped 0.9%.
  • NovaGold Resources (NG) rose 0.9%.
  • Yamana Gold (AUY) retreated 0.9%.

Silver Miners

  • Coeur d’Alene Mines (CDE) inched up 0.1%.
  • Hecla Mining (HL) fell 1.3%.
  • Pan American Silver (PAAS) declined 1.5%.
  • Silver Wheaton (SLW) sank 1%.
  • Silver Standard Resources (SSRI) pulled back 2.2%.

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/2014/04/gold-and-silver-gold-prices-ukraine/.

©2014 InvestorPlace Media, LLC

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