Gold and silver prices were moving higher in Friday morning trading, even as a healthy print on September retail sales gave investors a bit more confidence that the U.S. economy wasn’t falling into another black hole.
Spot gold briefly breached the $1,680-per-ounce level early today and was trading at $1,672.50 Bid, $1,673.50 Ask, having hit a high of $1,685 and a low of $1,671.70. The London p.m. gold fix was set at $1,678 by the London Bullion Market Association.
Spot silver was bid at $32.16 with an ask price of $32.26, having hit a morning high of $32.65 and a low of $31.94. The reference price for spot delivery of an ounce of silver was set at $31.82 by the LBMA in the London a.m.
In stock exchange trading, gold and silver trusts were moving up.
- The SPDR Gold Trust (NYSE:GLD) was around 0.25% higher.
- The iShares Gold Trust (NYSE:IAU) also was up about 0.25%.
- The iShares Silver Trust (NYSE:SLV) was around 1.4% higher.
Gold and silver mining ETFs started the day up strongly.
- The Market Vectors Gold Miners ETF (NYSE:GDX) was more than 1.5% higher.
- The Market Vector Junior Gold Miners ETF (NYSE:GDXJ) was up more than 1.4%.
- The Global X Silver Miners ETF (NYSE:SIL) was some 1.7% higher.
Shares of gold miners were broadly higher, with NovaGold Resources the exception.
- Agnico Eagle Mines (USA) (NYSE:AEM) was around 0.3% higher.
- Barrick Gold Corp. (NYSE:ABX) was up around 1.45%.
- Goldcorp (NYSE:GG) was up around 1.4%.
- Newmont Mining Corp. (NYSE:NEM) was some 2% higher.
- NovaGold Resources (USA) (AMEX:NG) was off more than 1.5%.
Silver mining shares also were moving higher Friday morning.
- Coeur D’Alene Mines Corp. (NYSE:CDE) was 1.6% higher.
- Hecla Mining (NYSE:HL) was moving between gains of 1.5% and 1.9%.
- Pan American Silver Corp. (USA) (NASDAQ:PAAS) was around 0.9%.
- Silver Wheaton Corp. (USA) (NYSE:SLW) was showing gains of 2.1%.
- Silver Standard Resources Inc. (USA) (NASDAQ:SSRI) was up around 1.4%.
As of this writing, Andrew Burger did not hold a position in any of the aforementioned investments.
