Gold and Silver Report: NG Stock, SSRI Plunge as Gold Prices Slip

by Christopher Freeburn | May 9, 2014 4:57 pm

Gold prices drifted fractionally lower in Friday trading. The metal remained below the $1,300 per ounce level, finishing the week down 1.2%.

PreciousMetalsRecap Gold and Silver Report: NG Stock, SSRI Plunge as Gold Prices SlipDuring a session that saw mixed tepid movement for miners, NovaGold (NG[1]) and Silver Standard Resources (SSRI[2]) dropped sharply. NG stock closed down more than 5%. SSRI reported a wider quarterly loss on falling revenue[3], sending SSRI shares plummeting more than 10%.

Gold futures for June delivery shed 10 cents, dipping to $1,287.60 per ounce on Friday, according to CME Group[4]. Gold prices were as high as $1,294.50 and as low as $1,285.50. Bullion closed in London at $1,290, according to BullionVault[5].

Silver futures for July delivery slipped almost 2 cents to $19.12 per ounce. Friday’s high for silver was $19.32, while the low was $19.05.

Here’s how metal-based funds and mining stocks fared on Friday:

Gold and Silver Funds

Gold and Silver Mining ETFs

Gold Miners

Silver Miners

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.

  1. NG:
  2. SSRI:
  3. wider quarterly loss on falling revenue:
  4. CME Group:
  5. BullionVault:
  6. GLD:
  7. IAU:
  8. SLV:
  9. GDX:
  10. GDXJ:
  11. SIL:
  12. AEM:
  13. ABX:
  14. EGO:
  15. GG:
  16. KGC:
  17. NEM:
  18. AUY:
  19. CDE:
  20. HL:
  21. PAAS:
  22. SLW:
  23. BullionVault:

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