Gold Slips on Boehner Budget Remarks

by Christopher Freeburn | December 11, 2012 5:23 pm

Gold Silver GLD IAU SLV[1]Gold snapped a three-day streak of gains on Tuesday, falling modestly after U.S. House of Representatives Speaker John Boehner expressed hope that the U.S. fiscal cliff could be averted with a budget deal.

Gold futures for December delivery dipped $1709.20 on Tuesday, according to CME Group[2]. Gold traded as high as $1,714.10 and as low as $1,705.90. Gold bullion closed in London at $1,713, according to BullionVault[3].

Silver futures for December delivery fell to $32.89 per ounce. Tuesday’s high for silver was $33.19, while the low was $32.78.

Gold and silver funds declined in Tuesday trading.

Gold and silver mining ETFs rose during the day.

Gold mining shares were mixed, with NovaGold Resources (NYSE:NG[10]) falling the most.

Silver mining shares moved higher on Tuesday.

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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  3. BullionVault:
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  22. SSRI:
  23. BullionVault:

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