Gold Rises on Global Economic Optimism

by Christopher Freeburn | November 19, 2012 4:54 pm

Gold Silver GLD IAU SLV[1]Gold gained about 1% in Monday trading as investors shook off fears of a renewed global downturn. Improving sentiment was buoyed by optimism over Greek debt negotiations and the prospect of a political compromise regarding the U.S. fiscal cliff.

Gold futures for December delivery jumped to $1,732.10 on Monday, according to CME Group[2]. Gold traded as high as $1,735.50 and as low as $1,713.40. Gold bullion closed in London at $1,734, according to BullionVault[3].

Silver futures for December delivery rose to $33.13 per ounce. Monday’s high for silver was $33.22, while the low was $32.29.

Gold and silver funds moved higher in Monday trading.

Gold and silver mining ETFs advanced during the day.

Gold mining shares gained on Monday, with Agnico-Eagle Mines (NYSE:AEM[10]) rising the most.

Silver mining shares also rose on Monday.

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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  2. CME Group:
  3. BullionVault:
  4. GLD:
  5. IAU:
  6. SLV:
  7. GDX:
  8. GDXJ:
  9. SIL:
  10. AEM:
  11. ABX:
  12. EGO:
  13. GG:
  14. KGC:
  15. NEM:
  16. NG:
  17. AUY:
  18. CDE:
  19. HL:
  20. PAAS:
  21. SLW:
  22. SSRI:
  23. BullionVault:

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