Gold prices edged lower on Thursday, declining for the third consecutive session.
On a mixed day for silver miners, Coeur d’Alene Mining (CDE) dropped sharply. CDE announced a first-quarter loss of 19 cents, which was better than the loss of 31 cents that analysts had expected. However, quarterly revenue of $159.6 million, down 7% year-over-year, fell short of the $164.5 million that Wall Street had anticipated. CDE stock closed down almost 3%.
Gold futures for June delivery dipped 0.1% to $1,287.70 per ounce on Thursday, according to CME Group. Gold prices were as high as $1,295.50 and as low as $1,284.80. Bullion closed in London at $1,292, according to BullionVault.
Silver futures for July delivery fell 1% to $19.14 per ounce. Thursday’s high for silver was $19.39, while the low was $19.13.
Here’s how metal-based funds and mining stocks fared on Thursday:
Gold and Silver Funds
- The SPDR Gold Shares (GLD) was flat.
- The iShares Gold Trust (IAU) inched up 0.1%.
- The iShares Silver Trust (SLV) sank 0.8%.
Gold and Silver Mining ETFs
- The Market Vectors Gold Miners ETF (GDX) slipped 0.1%.
- The Market Vectors Junior Gold Miners ETF (GDXJ) faded 0.5%.
- The Global X Silver Miners ETF (SIL) fell 0.7%.
- Agnico Eagle Mines (AEM) rose 0.8%.
- Barrick Gold Corporation (ABX) sank 0.6%.
- Eldorado Gold (EGO) gained 0.5%.
- Goldcorp (GG) edged up 0.1%.
- Kinross Gold (KGC) was unchanged.
- Newmont Mining (NEM) was flat.
- NovaGold (NG) added 0.3%.
- Yamana Gold (AUY) fell 0.8%.
- CDE stock retreated 2.9%.
- Hecla Mining (HL) rose 0.3%.
- Pan American Silver (PAAS) sank 0.6%.
- Silver Wheaton (SLW) added 0.7%.
- Silver Standard Resources (SSRI) slid 1%.
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.