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Gold and Silver Report: Gold Dips, CDE Stock Slides

Silver retreated while mining stocks were mixed


Gold prices edged lower on Thursday, declining for the third consecutive session.

gold and silver gold prices CDE stockOn 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%.

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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%.

Gold Miners

  • 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%.

Silver Miners

  • 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.

Article printed from InvestorPlace Media,

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