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Gold Edges Lower, Still Enjoys Best Quarter Since 2010

Gold mining stocks mixed, while silver miners mostly decline


Gold Silver GLD IAU SLVGold moved slightly lower on Friday, heading for an 11.5% gain for the third quarter — its best quarterly showing in two years — as oil prices moved up and investors regained confidence over European austerity measures.

Gold futures for December delivery fell to $1,773.90 on Friday, according to CME Group. Gold traded as high as $1,785.90 and as low as $1,769.50. Gold bullion closed in London at $1,774, according to BullionVault.

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Silver futures for December delivery also slipped, closing down at $34.57 per ounce. Friday’s high for silver was $34.92, while the low was $34.39.

Gold and silver funds moved lower in Friday trading.

  • The SPDR Gold Trust (NYSE:GLD) slipped 0.3%.
  • The iShares Gold Trust (NYSE:IAU) edged down 0.2%.
  • The iShares Silver Trust (NYSE:SLV) declined 0.3%.

Gold and silver mining ETFs also slipped during the day.

  • The Market Vectors Gold Miners ETF (NYSE:GDX) dipped 0.4%.
  • The Market Vectors Junior Gold Miners ETF (NYSE:GDXJ) fell 1%.
  • The Global X Silver Miners ETF (NYSE:SIL) slid 0.6%.

Gold mining shares mostly fell on Friday, with NovaGold Resources (AMEX:NG) falling the hardest.

  • Agnico-Eagle Mines (NYSE:AEM) moved up 0.2%
  • Barrick Gold (NYSE:ABX) slipped 0.2%.
  • Eldorado Gold (NYSE:EGO) rose 0.7%.
  • Goldcorp (NYSE:GG) fell 1.2%.
  • Kinross Gold (NYSE:KGC) increased 0.7%.
  • Newmont Mining (NYSE:NEM) dropped 0.9%.
  • NovaGold Resources moved down 1.4%.
  • Yamana Gold (NYSE:AUY) slipped 0.3%

Silver mining shares rose were mostly lower in Friday trading.

  • Coeur d’Alene Mines (NYSE:CDE) fell 1.2%.
  • Hecla Mining (NYSE:HL) tumbled 4.2%.
  • Pan American Silver (NASDAQ:PAAS) dipped 1.8%.
  • Silver Wheaton (NYSE:SLW) rose 0.7%.
  • Silver Standard Resources (NASDAQ:SSRI) declined 2.3%.

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,

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