Gold and Silver Report: Gold Rises Again, NEM Stock Climbs on Beat
by Christopher Freeburn | April 25, 2014 4:43 pm
Gold prices posted a modest gain in Friday trading, rising for a third straight session as tensions in eastern Ukraine continue. Gold prices ended the week up 0.5%, bolstered by strengthening safe-haven appeal. U.S. equities markets retreated during the day.
Newmont Mining (NEM[1]) reported adjusted first-quarter earnings[2] of 22 cents a share, topping the 19 cents that Wall Street was expecting. NEM stock moved up 3.8%, outpacing gains by other gold miners during the session.
Gold futures for June delivery added 0.8% to $1,300.80 per ounce on Friday, according to CME Group[3]. Gold prices were as high as $1,305.20 and as low as $1,290.40. Bullion closed in London at $1,304, according to BullionVault[4].
Silver futures for May delivery were flat at $19.69 per ounce. Friday’s high for silver was $19.81, while the low was $19.52.
Here’s how metal-based funds and mining stocks fared on Friday:
Gold and Silver Funds
- The SPDR Gold Shares (GLD[5]) rose 0.7%.
- The iShares Gold Trust (IAU[6]) increased 0.7%.
- The iShares Silver Trust (SLV[7]) inched up 0.1%.
Gold and Silver Mining ETFs
- The Market Vectors Gold Miners ETF (GDX[8]) climbed 2.2%.
- The Market Vectors Junior Gold Miners ETF (GDXJ[9]) surged 4.5%.
- The Global X Silver Miners ETF (SIL[10]) added 0.4%.
Gold Miners
- Agnico Eagle Mines (AEM[11]) rose 2.7%.
- Barrick Gold (ABX[12]) climbed 2.4%.
- Eldorado Gold (EGO[13]) added 2.2%.
- Goldcorp (GG[14]) gained 1.3%.
- Kinross Gold (KGC[15]) increased 2.2%.
- NEM advanced 3.8%.
- NovaGold (NG[16]) moved up 2.2%.
- Yamana Gold (AUY[17]) edged higher 0.3%.
Silver Miners
- Coeur d’Alene Mines (CDE[18]) slipped 0.1%.
- Hecla Mining (HL[19]) added 0.3%.
- Pan American Silver (PAAS[20]) rose 1.5%.
- Silver Wheaton (SLW[21]) gained 1.1%.
- Silver Standard Resources (SSRI[22]) climbed 3.8%.
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.
- NEM: http://studio-5.financialcontent.com/investplace/quote?Symbol=NEM
- adjusted first-quarter earnings: http://www.reuters.com/article/2014/04/24/newmont-results-idUSL2N0NG2NW20140424
- CME Group: http://www.cmegroup.com
- BullionVault: http://www.bullionvault.com
- GLD: http://studio-5.financialcontent.com/investplace/quote?Symbol=GLD
- IAU: http://studio-5.financialcontent.com/investplace/quote?Symbol=IAU
- SLV: http://studio-5.financialcontent.com/investplace/quote?Symbol=SLV
- GDX: http://studio-5.financialcontent.com/investplace/quote?Symbol=GDX
- GDXJ: http://studio-5.financialcontent.com/investplace/quote?Symbol=GDXJ
- SIL: http://studio-5.financialcontent.com/investplace/quote?Symbol=SIL
- AEM: http://studio-5.financialcontent.com/investplace/quote?Symbol=AEM
- ABX: http://studio-5.financialcontent.com/investplace/quote?Symbol=ABX
- EGO: http://studio-5.financialcontent.com/investplace/quote?Symbol=EGO
- GG: http://studio-5.financialcontent.com/investplace/quote?Symbol=GG
- KGC: http://studio-5.financialcontent.com/investplace/quote?Symbol=KGC
- NG: http://studio-5.financialcontent.com/investplace/quote?Symbol=NG
- AUY: http://studio-5.financialcontent.com/investplace/quote?Symbol=AUY
- CDE: http://studio-5.financialcontent.com/investplace/quote?Symbol=CDE
- HL: http://studio-5.financialcontent.com/investplace/quote?Symbol=HL
- PAAS: http://studio-5.financialcontent.com/investplace/quote?Symbol=PAAS
- SLW: http://studio-5.financialcontent.com/investplace/quote?Symbol=SLW
- SSRI: http://studio-5.financialcontent.com/investplace/quote?Symbol=SSRI
- BullionVault: http://www.bullionvault.com/
Source URL: https://investorplace.com/2014/04/gold-and-silver-report-nem-stock/