Gold and Silver Report: NEM Stock Sinks as Gold Prices Edge Higher

Silver gained, while gold remained below $1,300 an ounce

   

Gold and Silver Report: NEM Stock Sinks as Gold Prices Edge Higher

Gold prices settled fractionally higher in Monday trading, the metal’s first gain in three sessions.

PreciousMetalsRecap Gold and Silver Report: NEM Stock Sinks as Gold Prices Edge HigherOn a mixed day for miners, Newmont Mining (NEM) declined harder than other mining stocks. NEM stock ended the day down almost 3%.

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Gold futures for June delivery added 40 cents to $1,293.80 per ounce on Monday, according to CME Group. Gold prices were as high as $1,305.70 and as low as $1,289.50. Bullion closed in London at $1,295, according to BullionVault.

Silver futures for July delivery inched up 0.1% to $19.35 per ounce. Monday’s high for silver was $19.69, while the low was $19.31.

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

Gold and Silver Funds

  • The SPDR Gold Shares (GLD) rose 0.1%.
  • The iShares Gold Trust (IAU) was flat.
  • The iShares Silver Trust (SLV) added 0.1%.

Gold and Silver Mining ETFs

  • The Market Vectors Gold Miners ETF (GDX) was flat.
  • The Market Vectors Junior Gold Miners ETF (GDXJ) slipped 0.3%.
  • The Global X Silver Miners ETF (SIL) gained 0.6%.

Gold Miners

  • Agnico Eagle Mines (AEM) advanced 0.3%.
  • Barrick Gold (ABX) declined 0.4%.
  • Eldorado Gold  rose 0.2%.
  • Goldcorp (GG) sank 0.2%.
  • Kinross Gold (KGC) climbed 2%.
  • NEM stock dropped 2.7%.
  • NovaGold Resources (NG) climbed 1%.
  • Yamana Gold (AUY) added 1.5%.

Silver Miners

  • Coeur d’Alene Mines (CDE) gained 1.1%.
  • Hecla Mining (HL) slipped 0.2%.
  • Pan American Silver (PAAS) edged up 0.2%.
  • Silver Wheaton (SLW) gained 1.5%.
  • Silver Standard Resources (SSRI) climbed 2.1%.

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, http://investorplace.com/2014/05/gold-and-silver-report-nem-stock-sinks-gold-prices-higher/.

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