Millions of People Will Soon Be Blindsided. Will You Be One of Them?

On April 20 at 7 p.m. ET, Louis Navellier and Matt McCall will reveal an event that’s about to rock the stock market and how you could use it to beat the markets by nearly 11X.

Tue, April 20 at 7:00PM ET
 
 
 
 

Gold Tumbles With the Rest of the Market

Gold Silver GLD IAU SLVA weaker-than-expected report on U.S. private sector job creation in March renewed worries over continued economic growth and sent just about everything — the U.S. dollar, equities, gold and other commodities — down sharply in Wednesday trading. The metal continued to show little safe-haven appeal, despite rising concerns among U.S. defense officials about escalating rhetoric from North Korea.

Gold futures for May delivery slid 1.4% to $1,553.10 per ounce on Wednesday, according to CME Group. Gold traded as high as $1,576.40 and as low as $1,549.40. Gold bullion closed in London at $1,561, according to BullionVault.

Silver futures for May delivery fell 1.7% to $26.80 per ounce. Wednesday’s high for silver was $27.32, while the low was $26.67.

Gold and silver funds retreated in Wednesday trading.

  • The SPDR Gold Trust (NYSE:GLD) slid 1.1%.
  • The iShares Gold Trust (NYSE:IAU) fell 1.2%.
  • The iShares Silver Trust (NYSE:SLV) sank 1%.

Gold and silver mining ETFs dropped sharply during the day.

  • The Market Vectors Gold Miners ETF (NYSE:GDX) tumbled 4.5%.
  • The Market Vectors Junior Gold Miners ETF (NYSE:GDXJ) plunged 6.4%.
  • The Global X Silver Miners ETF (NYSE:SIL) dropped 3.7%.

Gold mining shares pulled back strongly on Wednesday.

  • Agnico-Eagle Mines (NYSE:AEM) sank 5.4%.
  • Barrick Gold (NYSE:ABX) declined 5.6%.
  • Eldorado Gold (NYSE:EGO) slumped 4.9%.
  • Goldcorp (NYSE:GG) retreated 3.6%.
  • Kinross Gold (NYSE:KGC) plunged 6%.
  • Newmont Mining (NYSE:NEM) fell 3.4%.
  • NovaGold Resources (AMEX:NG) plummeted 7%.
  • Yamana Gold (NYSE:AUY) declined 4.5%.

Silver mining shares fell forcefully during the day, too.

  • Coeur d’Alene Mines (NYSE:CDE) dropped 5%.
  • Hecla Mining (NYSE:HL) sank 4.6%.
  • Pan American Silver (NASDAQ:PAAS) fell 4.1%.
  • Silver Wheaton (NYSE:SLW) retreated 4.3%.
  • Silver Standard Resources (NASDAQ:SSRI) tumbled 6.7%.

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.


Article printed from InvestorPlace Media, https://investorplace.com/2013/04/gold-tumbles-with-the-rest-of-the-market/.

©2021 InvestorPlace Media, LLC