Gold prices climbed on Wednesday as U.S. equities retreated, and the metal settled back above $1,300 per ounce for the first time since May 6.
Most gold mining stocks posted gains for the day, but Yamana Gold (AUY) outpaced other miners during the session; AUY closed up more than 5%.
Gold futures for June delivery rose 0.9% to $1,305.90 per ounce on Wednesday, according to CME Group. Gold prices were as high as $1,309.20 and as low as $1,291.60. Bullion closed in London at $1,308, according to BullionVault.
Silver futures for July delivery jumped 1.2% to $19.78 per ounce. Wednesday’s high for silver was $20.01, while the low was $19.51.
Here’s how metal-based funds and mining stocks fared on Wednesday:
Gold and Silver Funds
- The SPDR Gold Shares (GLD) rose 1%.
- The iShares Gold Trust (IAU) added 0.9%.
- The iShares Silver Trust (SLV) moved up 1.2%.
Gold and Silver Mining ETFs
- The Market Vectors Gold Miners ETF (GDX) climbed 1.2%.
- The Market Vectors Junior Gold Miners ETF (GDXJ) gained 1.7%.
- The Global X Silver Miners ETF (SIL) advanced 1.3%.
- Agnico Eagle Mines (AEM) increased 1%.
- Barrick Gold Corporation (ABX) added 0.9%.
- Eldorado Gold gained 2.7%.
- Goldcorp (GG) rose 1.7%.
- Kinross Gold (KGC) fell 0.7%.
- Newmont Mining (NEM) slipped 0.2%.
- NovaGold (NG) climbed 2.3%.
- AUY surged 5.5%.
- Coeur d’Alene Mines (CDE) fell 1%.
- Hecla Mining (HL) were flat.
- Pan American Silver (PAAS) added 1.5%.
- Silver Wheaton (SLW) rose 0.6%.
- Silver Standard Resources (SSRI) gained 3.2%.
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.