Gold extended yesterday’s gains, posting a modest increase on Friday and hitting a new six month high.
Gold futures for December delivery closed up at $1,772.70 on Friday, according to CME Group. Gold traded as high as $1,780.20 and as low as $1,767.70. Gold bullion closed in London at $1,774, according to BullionVault.
Silver futures closed at $34.656 per ounce. Friday’s high for silver was $34.985, while the low was $34.32.
Gold and silver funds posted small gains on Friday.
- The SPDR Gold Trust (NYSE:GLD) rose 0.3%.
- The iShares Gold Trust (NYSE:IAU) also was up 0.3%.
- The iShares Silver Trust (NYSE:SLV) edged up 0.02%.
Gold and silver mining ETFs also rose.
- The Market Vectors Gold Miners ETF (NYSE:GDX) gained 2.5%.
- The Market Vectors Junior Gold Miners ETF (NYSE:GDXJ) increased 2.5%.
- The Global X Silver Miners ETF (NYSE:SIL) soared 2.6%.
Gold mining shares posted gains for the day, with NovaGold Resources (AMEX:NG) again leading the way.
- Agnico-Eagle Mines (NYSE:AEM) increased 2.4%
- Barrick Gold (NYSE:ABX) rose 1.8%.
- Eldorado Gold (NYSE:EGO) climbed 4.2%.
- Goldcorp (NYSE:GG) moved up 1.7%.
- Kinross Gold (NYSE:KGC) gained 3.7%.
- Newmont Mining (NYSE:NEM) increased 3.1%.
- NovaGold Resources jumped 6.3%.
- Yamana Gold (NYSE:AUY) closed up 1.7%
Silver mining shares also continued their rise.
- Coeur d’Alene Mines (NYSE:CDE) gained 6.4%.
- Hecla Mining (NYSE:HL) moved up 1.8%.
- Pan American Silver (NASDAQ:PAAS) improved 4.8%.
- Silver Wheaton (NYSE:SLW) increased 2.6%.
- Silver Standard Resources (NASDAQ:SSRI) edged up 1%.
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.
