Gold and Silver Report: NovaGold Resources Falls as Gold Prices Dip

Silver fell and gold remained below $1,300 an ounce

   

Gold and Silver Report: NovaGold Resources Falls as Gold Prices Dip

Gold prices moved fractionally lower on Friday, but closed out the week with a 0.5% gain.

PreciousMetalsRecap Gold and Silver Report: NovaGold Resources Falls as Gold Prices DipGold mining stocks mostly declined during the day, with NovaGold Resources (NG) falling harder than most. NovaGold Resources ended the session down more than 3%.

11103054 gold bullion 200x200 Gold and Silver Report: NovaGold Resources Falls as Gold Prices Dip
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Gold futures for June delivery shed 20 cents to $1,293.40 per ounce on Friday, according to CME Group. Gold prices were as high as $1,298.30 and as low as $1,287.70. Bullion closed in London at $1,295, according to BullionVault.

Silver futures for July delivery slid 0.7% to $19.33 per ounce. Friday’s high for silver was $19.53, while the low was $19.26.

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

Gold and Silver Funds

  • The SPDR Gold Shares (GLD) sank 0.2%.
  • The iShares Gold Trust (IAU) also dipped 0.2%.
  • The iShares Silver Trust (SLV) fell 0.8%.

Gold and Silver Mining ETFs

  • The Market Vectors Gold Miners ETF (GDX) declined 0.9%.
  • The Market Vectors Junior Gold Miners ETF (GDXJ) edged down 0.1%.
  • The Global X Silver Miners ETF (SIL) dropped 1%.

Gold Miners

  • Agnico Eagle Mines (AEM) faded 1.2%.
  • Barrick Gold (ABX) sank 1.4%.
  • Eldorado Gold  dropped 2.2%.
  • Goldcorp (GG) fell 1.4%.
  • Kinross Gold (KGC) declined 1%.
  • Newmont Mining (NEM) slid 1.2%.
  • NovaGold Resources tumbled 3.2%.
  • Yamana Gold (AUY) climbed 0.8%.

Silver Miners

  • Coeur d’Alene Mines (CDE) dipped 0.1%.
  • Hecla Mining (HL) climbed 0.7%.
  • Pan American Silver (PAAS) gained 1.5%.
  • Silver Wheaton (SLW) sank 1.6%.
  • Silver Standard Resources (SSRI) edged down 0.4%.

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-novagold-resources-falls-gold-prices-dip/.

©2014 InvestorPlace Media, LLC

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