Gold resumed its march toward a six-month high as the dollar slipped and investors sought security in the face of warnings of a U.S. credit downgrade from Moody’s.
Gold futures for December delivery rose to $1,734.10 on Tuesday, according to CME Group. Gold traded as high as $1,740.50 and as low as $1,728.70. Gold bullion closed in London at $1,735, according to BullionVault.
Silver futures slipped slightly to $33.515 an ounce. Monday’s high for silver hit $33.875, while the low was $33.38.
Gold and silver funds edged up modestly on Tuesday.
- The SPDR Gold Trust (NYSE:GLD) finished up 0.36%.
- The iShares Gold Trust (NYSE:IAU) also was up 0.36%.
- The iShares Silver Trust (NYSE:SLV) rose 0.37%.
Gold and silver mining ETFs also moved upward.
- The Market Vectors Gold Miners ETF (NYSE:GDX) increased 0.67%.
- The Market Vectors Junior Gold Miners ETF (NYSE:GDXJ) gained 1.26%.
- The Global X Silver Miners ETF (NYSE:SIL) rose 0.53%.
Gold mining shares showed mostly small gains for the day, with Eldorado Gold (NYSE:EGO) leading the way.
- Agnico-Eagle Mines (NYSE:AEM) inched up 0.40%.
- Barrick Gold (NYSE:ABX) gained 0.20%.
- Eldorado Gold increased 2.75%.
- Goldcorp (NYSE:GG) rose 0.31%.
- Kinross Gold (NYSE:KGC) edged up 0.21%.
- Newmont Mining (NYSE:NEM) finished up 1.25%.
- NovaGold Resources (AMEX:NG) was unchanged.
- Yamana Gold (NYSE:AUY) closed down 2.12%
Silver mining shares also experienced the uptick.
- Coeur d’Alene Mines (NYSE:CDE) was flat.
- Hecla Mining (NYSE:HL) rose 0.88%.
- Pan American Silver (NASDAQ:PAAS) edged up 0.16%.
- Silver Wheaton (NYSE:SLW) gained 0.36%.
- Silver Standard Resources (NASDAQ:SSRI) increased 1.55%.
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.