Gold Flat as U.S. Budget Talks Move Forward

by Christopher Freeburn | December 17, 2012 4:46 pm

Gold Silver GLD IAU SLV[1]After rising in early Monday trading on comments by the Japanese Prime Minister that sparked hope for more Bank of Japan stimulus spending, gold ended the day almost unchanged.

A second meeting between Speaker of the House John Boehner and President Barack Obama suggested that a deal may be close in U.S. budget negotiations, cooling investor enthusiasm for the metal.

Gold futures for February delivery moved up slightly to $1,699.50 on Monday, according to CME Group[2]. Gold traded as high as $1,701 and as low as $1,687.50. Gold bullion closed in London at $1,701, according to BullionVault[3].

Silver futures for February delivery dipped fractionally to $32.30 per ounce. Monday’s high for silver was $32.40, while the low was $32.14.

Gold and silver funds climbed in Monday trading.

Gold and silver mining ETFs were mixed during the day.

Gold mining shares were also mixed, with Eldorado Gold (NYSE:EGO[10]) rising the highest.

Silver mining shares mostly moved lower 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.

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

Source URL:
Short URL: