Gold and Silver Report: AUY Surges as Gold Prices Top $1,300
by Christopher Freeburn | May 14, 2014 4:38 pm
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.
[1]Most gold mining stocks posted gains for the day, but Yamana Gold (AUY[2]) 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[3]. 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[4].
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[5]) rose 1%.
- The iShares Gold Trust (IAU[6]) added 0.9%.
- The iShares Silver Trust (SLV[7]) moved up 1.2%.
Gold and Silver Mining ETFs
- The Market Vectors Gold Miners ETF (GDX[8]) climbed 1.2%.
- The Market Vectors Junior Gold Miners ETF (GDXJ[9]) gained 1.7%.
- The Global X Silver Miners ETF (SIL[10]) advanced 1.3%.
Gold Miners
- Agnico Eagle Mines (AEM[11]) increased 1%.
- Barrick Gold Corporation (ABX[12]) added 0.9%.
- Eldorado Gold gained 2.7%.
- Goldcorp (GG[13]) rose 1.7%.
- Kinross Gold (KGC[14]) fell 0.7%.
- Newmont Mining (NEM[15]) slipped 0.2%.
- NovaGold (NG[16]) climbed 2.3%.
- AUY surged 5.5%.
Silver Miners
- Coeur d’Alene Mines (CDE[17]) fell 1%.
- Hecla Mining (HL[18]) were flat.
- Pan American Silver (PAAS[19]) added 1.5%.
- Silver Wheaton (SLW[20]) rose 0.6%.
- Silver Standard Resources (SSRI[21]) gained 3.2%.
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.
Endnotes:
- [Image]: https://investorplace.com/wp-content/uploads/2011/10/PreciousMetalsRecap.gif
- AUY: http://studio-5.financialcontent.com/investplace/quote?Symbol=AUY
- 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
- 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
- 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/2014/05/gold-and-silver-report-auy-gold-prices-1300/