Gold Climbs as U.S. Dollar, Equities Slide

by Christopher Freeburn | May 20, 2013 4:30 pm

Gold Silver GLD IAU SLV[1]After seven straight session losses, Gold reversed course on Monday posting a strong gain. The precious metal’s fortunes improved as equities slipped and the U.S. dollar declined against other currencies.

Gold futures for June delivery jumped 1.4% to $1,384.10 per ounce on Monday, according to CME Group[2]. Gold traded as high as $1,397.90 and as low as $1,336.30. Gold bullion closed in London at $1,400, according to BullionVault[3].

Silver futures for June delivery gained 1% to $22.57 per ounce. Monday’s high for silver was $23.09 while the low was $20.24.

Gold and silver funds advanced in Monday trading.

Gold and silver mining ETFs gained strongly during the day.

Gold mining shares shot up on Monday.

Silver mining shares advanced during the day.

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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