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%.
During a session that saw mixed tepid movement for miners, NovaGold (NG) and Silver Standard Resources (SSRI) dropped sharply. NG stock closed down more than 5%. SSRI reported a wider quarterly loss on falling revenue, 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. 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.
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:
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.
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