Gold fell modestly on Thursday, marking the sixth consecutive session decline for the precious metal. Gold continued its decline even after a series of weak economic reports caused the U.S. dollar to stall against other currencies.
Gold futures for June delivery slid 0.7% to $1,386.90 per ounce on Thursday, according to CME Group. Gold traded as high as $1,397 and as low as $1,368. Gold bullion closed in London at $1,389, according to BullionVault.
Silver futures for June delivery were flat at $22.65 per ounce. Thursday’s high for silver was $22.75 while the low was $22.07.
Gold and silver funds were mixed in Thursday trading.
- The SPDR Gold Trust (NYSE:GLD) dipped 0.4%.
- The iShares Gold Trust (NYSE:IAU) also moved down 0.4%.
- The iShares Silver Trust (NYSE:SLV) climbed 0.9%.
Gold and silver mining ETFs were mostly higher during the day.
- The Market Vectors Gold Miners ETF (NYSE:GDX) rose 0.4%.
- The Market Vectors Junior Gold Miners ETF (NYSE:GDXJ) gained 0.7%.
- The Global X Silver Miners ETF (NYSE:SIL) slipped 0.1%.
Gold mining shares were mixed on Thursday.
- Agnico-Eagle Mines (NYSE:AEM) climbed 2.9%.
- Barrick Gold (NYSE:ABX) sank 0.9%.
- Eldorado Gold (NYSE:EGO) rose 1.5%.
- Goldcorp (NYSE:GG) fell 1.6%.
- Kinross Gold (NYSE:KGC) climbed 2.8%.
- Newmont Mining (NYSE:NEM) slipped 0.4%.
- NovaGold Resources (AMEX:NG) dropped 2.2%.
- Yamana Gold (NYSE:AUY) slid 0.5%.
Silver mining shares mostly gained during the day.
- Coeur d’Alene Mines (NYSE:CDE) dipped 0.4%.
- Hecla Mining (NYSE:HL) rose 3.9%.
- Pan American Silver (NASDAQ:PAAS) added 1.1%.
- Silver Wheaton (NYSE:SLW) climbed 1.8%.
- Silver Standard Resources (NASDAQ:SSRI) rose 0.5%.
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.
