Gold Posts Second Straight Monthly Decline

by Christopher Freeburn | November 30, 2012 5:01 pm

Gold Silver GLD IAU SLV[1]Rising worries over a lack of progress in negotiations to avert the U.S. fiscal cliff sent gold down about 1% on Friday, leading the metal to post its second consecutive monthly loss.

Gold futures for December delivery fell back to $1,710.90 on Friday, according to CME Group[2]. Gold traded as high as $1,731.20 and as low as $1,709.40. Gold bullion closed in London at $1,717, according to BullionVault[3].

Silver futures for December delivery slid to $33.20 per ounce. Friday’s high for silver was $34.35, while the low was $33.14.

Gold and silver funds moved lower in Friday trading.

Gold and silver mining ETFs retreated during the day.

Gold mining shares declined on Friday, with Kinross Gold (NYSE:KGC[10]) falling the most.

Silver mining shares mostly retreated 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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  21. SLW:
  22. SSRI:
  23. BullionVault:

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