Gold Slips As Equities Rally

by Christopher Freeburn | June 17, 2013 4:59 pm

Gold Silver GLD IAU SLV[1]Gold dipped slightly in Monday trading as equities markets rebounded from Friday’s decline. Investors are awaiting the outcome of the Federal Reserve’s meeting this week for hints as to whether the Fed will move to wind down stimulus efforts this later this year.

Gold futures for July delivery slipped 0.3% to $1,383 per ounce on Monday, according to CME Group[2]. Gold traded as high as $1,390.20 and as low as $1,380.20. Gold bullion closed in London at $1,386, according to BullionVault[3].

Silver futures for July delivery also fell 0.9% to $21.76 per ounce. Monday’s high for silver was $22.06 while the low was $21.61.

Gold and silver funds declined in Monday trading.

Gold and silver mining ETFs were mostly lower during the day.

Gold mining shares mostly advanced on Monday.

Silver mining shares mostly retreated 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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