Gold Rises on Federal Reserve Expectations

by Christopher Freeburn | December 10, 2012 4:40 pm

Gold Silver GLD IAU SLV[1]Gold rose slightly in Monday trading in advance of this week’s Federal Reserve meeting as investors hope for an announcement of additional efforts to stimulate the U.S. economy.

Gold futures for December delivery climbed to $1712.70 on Monday, according to CME Group[2]. Gold traded as high as $1,717 and as low as $1,704.20. Gold bullion closed in London at $1,716, according to BullionVault[3].

Silver futures for December delivery rose to $33.25 per ounce. Monday’s high for silver was $33.40, while the low was $33.14.

Gold and silver funds advanced in Monday trading.

Gold and silver mining ETFs rose during the day.

Gold mining shares mostly rose, with NovaGold Resources (NYSE:NG[10]) outpacing the others.

Silver mining shares moved higher 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. NG:
  11. AEM:
  12. ABX:
  13. EGO:
  14. GG:
  15. KGC:
  16. NEM:
  17. AUY:
  18. CDE:
  19. HL:
  20. PAAS:
  21. SLW:
  22. SSRI:
  23. BullionVault:

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