Gold Cools on Bernanke Housing Remarks

by Christopher Freeburn | November 16, 2012 4:40 pm

Gold Silver GLD IAU SLV[1]Gold ended the week down about 1% as investors digested discouraging remarks from Federal Reserve Chairman Ben Bernanke on credit challenges facing a recoverying the U.S. housing market.

Gold futures for December delivery edged up to $1,714.7 on Friday, according to CME Group[2]. Gold traded as high as $1,717.20 and as low as $1,705.60. Gold bullion closed in London at $1,716, according to BullionVault[3].

Silver futures for December delivery slipped to $32.37 per ounce. Friday’s high for silver was $32.68, while the low was $32.02.

Gold and silver funds moved lower in Friday trading.

Gold and silver mining ETFs improved during the day.

Gold mining shares gained on Friday, with NovaGold Resources (NYSE:NG[10]) rising highest.

Silver mining shares also rose on Friday.

As of this writing, Christopher Freeburn did not hold a position in any of the aforementioned securities. Adrian Ash of BullionVault[23] contributed to this report.

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  10. NG:
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  22. SSRI:
  23. BullionVault:

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