Gold, Silver Futures Edge Lower Tuesday

by Angela Nazworth | August 28, 2012 4:45 pm

Gold traded 0.4% lower Tuesday, with a final bid of $1,665.90 per ounce, according to CME Group data[1]. Gold prices reached a high of $1,670.90 and a low of $1,656. Gold bullion finished at $1,670 per ounce for Tuesday’s session in London[2].

“There’s a lot of talk of gold coming back as a safe-haven asset,”  Bernard Sin, head of currency and metal trading at Swiss refiner MKS, told BullionVault[3]. “As long as the QE3 discussion is on the table, gold will continue to trade higher.”

Silver futures dipped 0.5% Tuesday, with a final bid of $30.88 per ounce. Tuesday’s high for silver reached $30.98, and the low was $30.49.

Gold and silver funds traded higher on Tuesday.

Gold and silver mining ETFs suffered losses with the Market Vectors Junior Gold Miners ETF (NYSE:GDXJ[7]) faring the worst.

Gold mining shares were mixed Tuesday.

Silver mining shares also were mixed Tuesday.

As of this writing, Angela Nazworth did not hold a position in any of the aforementioned securities. Adrian Ash of BullionVault[23] contributed to this report.

  1. CME Group data:
  2. session in London:
  3. BullionVault:
  4. GLD:
  5. IAU:
  6. SLV:
  7. GDXJ:
  8. GDX:
  9. SIL:
  10. AEM:
  11. ABX:
  12. EGO:
  13. GG:
  14. KGC:
  15. NEM:
  16. NG:
  17. AUY:
  18. CDE:
  19. HL:
  20. PAAS:
  21. SLW:
  22. SSRI:
  23. BullionVault:

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