Global Slowdown Worries Keep Gold Flat

by Christopher Freeburn | October 10, 2012 4:49 pm

Gold Silver GLD IAU SLVGold remained mostly unchanged on Wednesday as fears of a global economic slowdown were reinforced by lowered outlooks from Alcoa (NYSE:AA[1]) and Chevron (NYSE:CVX[2]).

Gold futures for December delivery rose slightly to $1,765.10 on Wednesday, according to CME Group[3]. Gold traded as high as $1,770 and as low as $1,758.50. Gold bullion closed in London at $1,766, according to BullionVault[4].

Silver futures for December delivery also slipped, closing down at $33.11 per ounce. Wednesday’s high for silver was $34.19, while the low was $33.75.

Gold and silver funds were mixed in Wednesday trading.

Gold and silver mining ETFs were also mixed for the day.

Gold mining shares mostly edged higher on Wednesday, with Yamana Gold (NYSE:AUY[11]) posting the largest gain.

Silver mining shares closed higher in Wednesday trading.

As of this writing, Christopher Freeburn did not hold a position in any of the aforementioned securities. Adrian Ash of BullionVault[4] contributed to this report.

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

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