How You Could Double Your Money at Least 6 TIMES This Year

On May 19, iconic growth investor Louis Navellier will reveal how his powerful quant-based stock system could accelerate your wealth and help fund your retirement.

Wed, May 19 at 4:00PM ET

Gold, Silver Sent Skyward on QE3’s Wings

Gold Silver GLD IAU SLVGold jumped about 2% on Thursday after the Federal Reserve said it would launch a new round of quantitative easing, signaling to investors that the Fed is more concerned with spurring growth than keeping inflation low.

Gold futures for December delivery rose to $1,772.10 on Thursday, according to CME Group. Gold traded as high as $1,775 and as low as $1,720. Gold bullion closed in London at $1,767, according to BullionVault.

Silver futures climbed 4.5% to $34.78 per ounce. Thursday’s high for silver hit $34.87, while the low was $32.72.

Gold and silver funds posted strong gains on Thursday.

  • The SPDR Gold Trust (NYSE:GLD) rose 2%.
  • The iShares Gold Trust (NYSE:IAU) also was up 2%.
  • The iShares Silver Trust (NYSE:SLV) gained 4.4%.

Gold and silver mining ETFs also cruised.

  • The Market Vectors Gold Miners ETF (NYSE:GDX) jumped 5%.
  • The Market Vectors Junior Gold Miners ETF (NYSE:GDXJ) increased 4.2%.
  • The Global X Silver Miners ETF (NYSE:SIL) soared 7.5%.

Gold mining shares rose strongly for the day, with NovaGold Resources (AMEX:NG) leading the way.

  • Agnico-Eagle Mines (NYSE:AEM) was up 3.8%
  • Barrick Gold (NYSE:ABX) gained 4.8%.
  • Eldorado Gold (NYSE:EGO) rose 4.4%.
  • Goldcorp (NYSE:GG) jumped 5.5%.
  • Kinross Gold (NYSE:KGC) moved up 3.6%.
  • Newmont Mining (NYSE:NEM) increased 5.5%.
  • NovaGold Resources leaped 7%.
  • Yamana Gold (NYSE:AUY) closed up 6%

Silver mining shares also boldly marched north.

  • Coeur d’Alene Mines (NYSE:CDE) rose 6.9%.
  • Hecla Mining (NYSE:HL) jumped 7.4%.
  • Pan American Silver (NASDAQ:PAAS) improved 5.5%.
  • Silver Wheaton (NYSE:SLW) increased 5.7%.
  • Silver Standard Resources (NASDAQ:SSRI) move up 5.6%.

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,

©2021 InvestorPlace Media, LLC