Gold Rises on Eve of U.S. Elections

Gold Silver GLD IAU SLVGold recovered modestly on Monday after falling sharply last week as the U.S. presidential election — and a decision about future American economic policy — loomed.

Gold futures for December delivery rose to $1,683.20 on Monday, according to CME Group. Gold traded as high as $1,686.20 and as low as $1,672.50. Gold bullion closed in London at $1,688, according to BullionVault.

Silver futures for December delivery also gained, closing up at $31.13 per ounce. Monday’s high for silver was $31.23, while the low was $30.66.

Gold and silver funds moved higher in Monday trading.

  • The SPDR Gold Trust (NYSE:GLD) rose 0.4%.
  • The iShares Gold Trust (NYSE:IAU) also gained 0.4%.
  • The iShares Silver Trust (NYSE:SLV) increased 0.7%.

Gold and silver mining ETFs retreated during the day.

  • The Market Vectors Gold Miners ETF (NYSE:GDX) fell 0.7%.
  • The Market Vectors Junior Gold Miners ETF (NYSE:GDXJ) dipped 0.5%.
  • The Global X Silver Miners ETF (NYSE:SIL) slid 0.9%.

Gold mining shares were mixed on Monday, with NovaGold Resources (NYSE:NG) falling the most.

  • Agnico-Eagle Mines (NYSE:AEM) climbed 2%.
  • Barrick Gold (NYSE:ABX) fell 0.9%.
  • Eldorado Gold (NYSE:EGO) dropped 1.7%.
  • Goldcorp (NYSE:GG) rose 0.5%.
  • Kinross Gold (NYSE:KGC) declined 1.6%
  • Newmont Mining (NYSE:NEM) fell 0.7%.
  • NovaGold Resources tumbled 2.8%.
  • Yamana Gold (NYSE:AUY) edged up 0.2%.

Silver mining shares declined on Monday.

  • Coeur d’Alene Mines (NYSE:CDE) jumped 2.5%.
  • Hecla Mining (NYSE:HL) slipped 0.3%.
  • Pan American Silver (NASDAQ:PAAS) retreated 1.7%.
  • Silver Wheaton (NYSE:SLW) fell 1.3%.
  • Silver Standard Resources (NASDAQ:SSRI) plunged 4.6%.

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, https://investorplace.com/2012/11/gold-rises-on-eve-of-u-s-elections/.

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