Gold and Silver Report: Gold Dips, CDE Stock Slides
by Christopher Freeburn | May 8, 2014 4:41 pm
Gold prices edged lower on Thursday, declining for the third consecutive session.
On a mixed day for silver miners, Coeur d’Alene Mining (CDE[1]) dropped sharply. CDE announced a first-quarter loss of 19 cents, which was better than the loss of 31 cents that analysts had expected[2]. 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[3]. 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[4].
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[5]) was flat.
- The iShares Gold Trust (IAU[6]) inched up 0.1%.
- The iShares Silver Trust (SLV[7]) sank 0.8%.
Gold and Silver Mining ETFs
- The Market Vectors Gold Miners ETF (GDX[8]) slipped 0.1%.
- The Market Vectors Junior Gold Miners ETF (GDXJ[9]) faded 0.5%.
- The Global X Silver Miners ETF (SIL[10]) fell 0.7%.
Gold Miners
- Agnico Eagle Mines (AEM[11]) rose 0.8%.
- Barrick Gold Corporation (ABX[12]) sank 0.6%.
- Eldorado Gold (EGO[13]) gained 0.5%.
- Goldcorp (GG[14]) edged up 0.1%.
- Kinross Gold (KGC[15]) was unchanged.
- Newmont Mining (NEM[16]) was flat.
- NovaGold (NG[17]) added 0.3%.
- Yamana Gold (AUY[18]) fell 0.8%.
Silver Miners
- CDE stock retreated 2.9%.
- Hecla Mining (HL[19]) rose 0.3%.
- Pan American Silver (PAAS[20]) sank 0.6%.
- Silver Wheaton (SLW[21]) added 0.7%.
- Silver Standard Resources (SSRI[22]) slid 1%.
As of this writing, Christopher Freeburn did not hold a position in any of the aforementioned securities. Adrian Ash of BullionVault[23] contributed to this report.
Endnotes:
- CDE: http://studio-5.financialcontent.com/investplace/quote?Symbol=CDE
- analysts had expected: http://www.mideasttime.com/coeur-mining-cde-releases-quarterly-earnings-beats-estimates-by-0-12-eps/137449/
- 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
- 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-gold-prices-cde-stock/