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

by Christopher Freeburn | May 19, 2014 4:23 pm

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

On a mixed day for miners, Newmont Mining (NEM[1]) declined harder than other mining stocks. NEM stock ended the day down almost 3%.

Gold futures for June delivery added 40 cents to $1,293.80 per ounce on Monday, according to CME Group[2]. 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[3].

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[4]) rose 0.1%.
• The iShares Gold Trust (IAU[5]) was flat.
• The iShares Silver Trust (SLV[6]) added 0.1%.

Gold and Silver Mining ETFs

• The Market Vectors Gold Miners ETF (GDX[7]) was flat.
• The Market Vectors Junior Gold Miners ETF (GDXJ[8]) slipped 0.3%.
• The Global X Silver Miners ETF (SIL[9]) gained 0.6%.

Gold Miners

• Agnico Eagle Mines (AEM[10]) advanced 0.3%.
• Barrick Gold (ABX[11]) declined 0.4%.
• Eldorado Gold  rose 0.2%.
• Goldcorp (GG[12]) sank 0.2%.
• Kinross Gold (KGC[13]) climbed 2%.
• NEM stock dropped 2.7%.
• NovaGold Resources (NG[14]) climbed 1%.
• Yamana Gold (AUY[15]) added 1.5%.

Silver Miners

• Coeur d’Alene Mines (CDE[16]) gained 1.1%.
• Hecla Mining (HL[17]) slipped 0.2%.
• Pan American Silver (PAAS[18]) edged up 0.2%.
• Silver Wheaton (SLW[19]) gained 1.5%.
• Silver Standard Resources (SSRI[20]) climbed 2.1%.

As of this writing, Christopher Freeburn did not hold a position in any of the aforementioned securities. Adrian Ash of BullionVault[21] contributed to this report.

Source URL: https://investorplace.com/2014/05/gold-and-silver-report-nem-stock-sinks-gold-prices-higher/

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