The euro continues to appreciate from its recent lows and gold and silver prices have been up again today in early trading. The spot gold price was set at $1552.50 at the London afternoon fix and was trading at $1,553 Bid, $1,554 Ask in early precious metals trading. Spot silver was set at $35.91 in London and was trading at $36.54 Bid, $36.64 Ask in early trading.
The main gold and silver ETFs were also trading higher in early morning trade: the SPDR Gold Trust ETF (NYSE: GLD) was up slightly this morning, while the iShares Silver Trust (NYSE: SLV) ETF fund was up about 1%. The iShares Gold Trust (NYSE: IAU) was also up marginally in early gold and silver trading.
Gold and silver mining ETFs were also higher in early trading Wednesday.
- Market Vectors Gold Miners ETF (NYSE: GDX) had gained about 1.4% in early trading Wednesday
- Market Vectors Junior Gold Miners ETF (NYSE: GDXJ) was up about 2.2%
- Global X Silver Miners Fund (NYSE: SIL) was up about 0.7%
Individual gold mining shares were trading up in tandem, with Barrick (NYSE: ABX) and GoldCorp (NYSE: GG) leading the way with gains of more than 2% in early trading.
- Agnico Eagle Mines Ltd. (NYSE:AEM) was up about 1.3% in early Wednesday trading
- Barrick Gold (NYSE:ABX) was up about 2.1%
- GoldCorp (NYSE:GG) was up about 2.3%
- Kinross Gold (NYSE: KGC) was up about 1.5%
- Newmont Mining (NYSE:NEM) was up about 1.8%
- NovaGold Resources (AMEX: NG) was up about 0.9%
Leading silver mining stocks were also trading up, with the exception of Silver Wheaton, trading flat from its opening price.
Coeur D’Alene Mines (NYSE: CDE) was up about 1.5% in early stock market trading.
Hecla Mining (NYSE: HL) was up about 1.9%
Pan American Silver (NASDAQ: PAAS) was up about 0.6%
Silver Wheaton (NYSE: SLW) was flat in early trading with little or no change in price
Silver Standard Resources Inc. (NASDAQ: SSRI) was up 1.1% in early trading
