Gold Edges Higher on Continued Fed Uncertainty

by Christopher Freeburn | June 10, 2013 5:02 pm

Gold Silver GLD IAU SLV[1]Gold rose slightly in Monday trading as investors weighed the prospect that the Federal Reserve would maintain current efforts to stimulate the U.S. economy in the coming months. Recent economic reports have painted a decidedly mixed picture of the U.S. recovery’s strength, offering evidence both for and against diminished Fed action.

Gold futures for July delivery inched up 0.2% to $1,386.30 per ounce on Monday, according to CME Group[2]. Gold traded as high as $1,388.50 and as low as $1,376.30. Gold bullion closed in London at $1,388, according to BullionVault[3].

Silver futures for July delivery rose 0.8% to $21.93 per ounce. Monday’s high for silver was $22.03 while the low was $21.33.

Gold and silver funds gained in Monday trading.

Gold and silver mining ETFs moved up slightly during the day.

Gold mining shares were mixed 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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