Gold and Silver Report: Gold Moves to 3-Week High, Hecla Mining Climbs
by Christopher Freeburn | April 14, 2014 5:04 pm
Gold gained modestly in Monday trading, hitting a level not seen in three weeks as escalating clashes between government and pro-Russian mobs in Eastern Ukraine renewed fears of Russian intervention and deeper U.S. and European sanctions against Russia.
Hecla Mining (HL[1]) notably outperformed other silver miners during the session, gaining more than 3%.
Gold futures for June delivery added 0.6% to $1,327.50 per ounce on Monday, according to CME Group[2]. Gold prices were as high as $1,331.40 and as low as $1,318.70. Bullion closed in London at $1,327, according to BullionVault[3].
Silver futures for May delivery inched up 0.3% to settle at $20.01 per ounce. Monday’s high for silver was $20.14, while the low was $19.70.
Metal funds gained on Monday.
- The SPDR Gold Shares (GLD[4]) increased 0.7%.
- The iShares Gold Trust (IAU[5]) rose 0.8%.
- The iShares Silver Trust (SLV[6]) moved up 0.1%.
Mining ETFs advanced during the day.
- The Market Vectors Gold Miners ETF (GDX[7]) added 1.2%.
- The Market Vectors Junior Gold Miners ETF (GDXJ[8]) climbed 1.3%.
- The Global X Silver Miners ETF (SIL[9]) rose 1.6%.
Gold stocks mostly improved on Monday.
- Agnico-Eagle Mines (AEM[10]) gained 1.9%.
- Barrick Gold (ABX[11]) added 1.1%.
- Eldorado Gold (EGO[12]) increased 2.5%.
- Goldcorp (GG[13]) rose 0.9%.
- Kinross Gold (KGC[14]) fell 1%.
- Newmont Mining (NEM[15]) climbed 0.7%.
- NovaGold Resources (NG[16]) moved up 0.6%.
- Yamana Gold (AUY[17]) added 0.5%.
Silver mining shares mostly moved higher during the day.
- Coeur d’Alene Mines (CDE[18]) was flat.
- Hecla Mining surged 3.5%.
- Pan American Silver (PAAS[19]) rose 1.8%.
- Silver Wheaton (SLW[20]) gained 1.4%.
- Silver Standard Resources (SSRI[21]) increased 1.6%.
As of this writing, Christopher Freeburn did not hold a position in any of the aforementioned securities. Adrian Ash of BullionVault[22] contributed to this report.
Industrial[23], Precious Metals[24]
- HL: http://studio-5.financialcontent.com/investplace/quote?Symbol=HL
- 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
- NEM: http://studio-5.financialcontent.com/investplace/quote?Symbol=NEM
- 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
- 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/
- Industrial: https://investorplace.com/industries/industrial/
- Precious Metals: https://investorplace.com/industries/industrial/precious-metals/
Source URL: https://investorplace.com/2014/04/gold-silver-report-hecla-mining/