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Gold Advances on Japan and U.K. News

Gold and silver ETFs gained, while mining stocks surged


Gold Silver GLD IAU SLVGold recovered from yesterday’s losses, moving back above $1,700 an ounce in Thursday trading, buoyed by signals that the Japan’s central bank will ease monetary policy and better-than-expected economic news from the U.K.

Gold futures for December delivery rose to $1,713 on Thursday, according to CME Group. Gold traded as high as $1,718.90 and as low as $1,702.30. Gold bullion closed in London at $1,716, according to BullionVault.

3 Metals and Mining Stocks to Sell Now
3 Metals and Mining Stocks to Sell Now

Silver futures for December delivery also increased, closing up at $32.08 per ounce. Thursday’s high for silver was $32.26, while the low was $31.74.

Gold and silver funds moved higher in Thursday trading.

  • The SPDR Gold Trust (NYSE:GLD) rose 0.7%.
  • The iShares Gold Trust (NYSE:IAU) also inched up 0.7%.
  • The iShares Silver Trust (NYSE:SLV) climbed 1.3%.

Gold and silver mining ETFs advanced during the day.

  • The Market Vectors Gold Miners ETF (NYSE:GDX) jumped 3%
  • The Market Vectors Junior Gold Miners ETF (NYSE:GDXJ) gained 1.9%.
  • The Global X Silver Miners ETF (NYSE:SIL) rose 1.3%.

Gold mining shares moved higher on Thursday, with Agnico-Eagle Mines (NYSE:AEM) rising the most.

  • Agnico-Eagle Mines soared 9.1%.
  • Barrick Gold (NYSE:ABX) gained 2.7%.
  • Eldorado Gold (NYSE:EGO) climbed 2.5%.
  • Goldcorp (NYSE:GG) surged 6.8%.
  • Kinross Gold (NYSE:KGC) edged up 0.8%
  • Newmont Mining (NYSE:NEM) increased 1.9%.
  • NovaGold Resources (NYSE:NG) added 1.8%.
  • Yamana Gold (NYSE:AUY) rose 2.5

Silver mining shares posted gains on Thursday.

  • Coeur d’Alene Mines (NYSE:CDE) jumped 4.7%.
  • Hecla Mining (NYSE:HL) advanced 4%.
  • Pan American Silver (NASDAQ:PAAS) increased 2.3%.
  • Silver Wheaton (NYSE:SLW) rose 4.3%.
  • Silver Standard Resources (NASDAQ:SSRI) moved up 3.1%.

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.

Article printed from InvestorPlace Media,

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