Growing uncertainty in Europe fueled a rise in the U.S. dollar, which sent gold futures tumbling to a six-week low on Friday.
Gold futures for December delivery fell to $1,724 on Friday, according to CME Group. Gold traded as high as $1,744.70 and as low as $1,716. Gold bullion closed in London at $1,726, according to BullionVault.
Silver futures for December delivery also closed down at $32.10 per ounce. Friday’s high for silver was $32.92, while the low was $31.95.
Gold and silver funds slid in Friday trading.
- The SPDR Gold Trust (NYSE:GLD) dropped 1%.
- The iShares Gold Trust (NYSE:IAU) also moved down 1%.
- The iShares Silver Trust (NYSE:SLV) fell 2%.
Gold and silver mining ETFs were mixed during the day.
- The Market Vectors Gold Miners ETF (NYSE:GDX) edged up 0.4%.
- The Market Vectors Junior Gold Miners ETF (NYSE:GDXJ) declined 1.2%.
- The Global X Silver Miners ETF (NYSE:SIL) dipped 0.4%.
Gold mining shares were also mixed on Friday, with NovaGold Resources (AMEX:NG) falling the most.
- Agnico-Eagle Mines (NYSE:AEM) was flat.
- Barrick Gold (NYSE:ABX) slid 0.4%.
- Eldorado Gold (NYSE:EGO) rose 1.1%.
- Goldcorp (NYSE:GG) advanced 1.1%.
- Kinross Gold (NYSE:KGC) dipped 0.2%.
- Newmont Mining (NYSE:NEM) edged down 0.1%.
- NovaGold Resources dropped 2%.
- Yamana Gold (NYSE:AUY) gained 0.5%.
Silver mining shares were mixed in Friday trading.
- Coeur d’Alene Mines (NYSE:CDE) declined 0.9%.
- Hecla Mining (NYSE:HL) rose 0.3%.
- Pan American Silver (NASDAQ:PAAS) fell 1%.
- Silver Wheaton (NYSE:SLW) gained 0.2%.
- Silver Standard Resources (NASDAQ:SSRI) moved up 1.8%.
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.
