Gold Climbs on Rising Stimulus Confidence

by Christopher Freeburn | January 15, 2013 4:50 pm

Gold Silver GLD IAU SLV[1]Signs of rising inflation in Japan and cooling investor concern that the Federal Reserve might reduce U.S. economic stimulus this year, sent gold higher in Tuesday trading.

Gold futures for February delivery climbed 0.9% to $1,683.90 on Tuesday, according to CME Group[2]. Gold traded as high as $1,684.90 and as low as $1,666.20. Gold bullion closed in London at $1,681, according to BullionVault[3].

Silver futures for February delivery gained 1.3% to $31.50 per ounce. Tuesday’s high for silver was $31.58, while the low was $30.97.

Gold and silver funds rose in Tuesday trading.

Gold and silver mining ETFs increased during the day.

Gold mining shares were mostly higher, with Kinross Gold (NYSE:KGC[10]) rising the most.

Silver mining shares mostly moved lower 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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  23. BullionVault:

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