Gold Rises Slightly After ADP Report

by Christopher Freeburn | October 3, 2012 4:52 pm

Gold Silver GLD IAU SLV[1]Despite falling crude oil prices and a stronger U.S. dollar, gold moved up slightly on Wednesday after payroll processor ADP delivered a better-than-expected report on the U.S. jobs market[2].

Gold futures for December delivery rose to $1,779.80 on Wednesday, according to CME Group[3]. Gold traded as high as $1,784 and as low as $1,773. Gold bullion closed in London at $1,780, according to BullionVault[4].

Silver futures for December delivery also edged higher, closing up at $34.69 per ounce. Wednesday’s high for silver was $34.90, while the low was $34.515.

Gold and silver funds trended up in Wednesday trading.

Gold and silver mining ETFs moved lower during the day.

Gold mining shares mostly fell on Wednesday, with Eldorado Gold (NYSE:EGO[11]) posting the sharpest decline.

Silver mining shares declined 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.

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  2. ADP delivered a better-than-expected report on the U.S. jobs market:
  3. CME Group:
  4. BullionVault:
  5. GLD:
  6. IAU:
  7. SLV:
  8. GDX:
  9. GDXJ:
  10. SIL:
  11. EGO:
  12. AEM:
  13. ABX:
  14. GG:
  15. KGC:
  16. NEM:
  17. NG:
  18. AUY:
  19. CDE:
  20. HL:
  21. PAAS:
  22. SLW:
  23. SSRI:

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