Gold soared in Tuesday trading, posting its biggest daily gain in seven weeks as investors awaited the outcome of the U.S. presidential election.
Gold futures for December delivery jumped to $1,715 on Tuesday, according to CME Group. Gold traded as high as $1,720.90 and as low as $1,683.50. Gold bullion closed in London at $1,719, according to BullionVault.
Silver futures for December delivery also gained, closing up at $32.03 per ounce. Tuesday’s high for silver was $32.28, while the low was $31.07.
Gold and silver funds moved higher in Tuesday trading.
- The SPDR Gold Trust (NYSE:GLD) jumped 1.9%.
- The iShares Gold Trust (NYSE:IAU) also climbed 1.9%.
- The iShares Silver Trust (NYSE:SLV) surged 2.8%.
Gold and silver mining ETFs advanced during the day.
- The Market Vectors Gold Miners ETF (NYSE:GDX) gained 1.9%.
- The Market Vectors Junior Gold Miners ETF (NYSE:GDXJ) rose 2.1%.
- The Global X Silver Miners ETF (NYSE:SIL) edged 0.5%.
Gold mining shares were moved higher on Tuesday, with Eldorado Gold (NYSE:EGO) rising the most.
- Agnico-Eagle Mines (NYSE:AEM) rose 1.7%.
- Barrick Gold (NYSE:ABX) climbed 1.4%.
- Eldorado Gold jumped 4.3%.
- Goldcorp (NYSE:GG) increased 1.7%.
- Kinross Gold (NYSE:KGC) rose 1.5%
- Newmont Mining (NYSE:NEM) edged up 0.2%.
- NovaGold Resources (NYSE:NG) gained 1.5%.
- Yamana Gold (NYSE:AUY) advanced 3.4%.
Silver mining shares were mixed on Tuesday.
- Coeur d’Alene Mines (NYSE:CDE) plunged 20.7%.
- Hecla Mining (NYSE:HL) dropped 6.5%.
- Pan American Silver (NASDAQ:PAAS) rose 1%.
- Silver Wheaton (NYSE:SLW) gained 1.4%.
- Silver Standard Resources (NASDAQ:SSRI) climbed 3.2%.
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.
