Gold Eases Slightly After Jump

by Christopher Freeburn | July 23, 2013 5:21 pm

Gold Silver GLD IAU SLV[1]Gold fell slightly in Tuesday trading as traders took a rest after yesterday’s sharp rise in prices. Rumors of new gold import restrictions in India, a major buyer of physical gold, also dampened the metal’s prospects.

Gold futures for August delivery dipped 0.1% to $1,334.70 per ounce on Tuesday, according to CME Group[2]. Gold traded as high as $1,337.80 and as low as $1,325.60. Gold bullion closed in London at $1,345, according to BullionVault[3].

Silver futures for August delivery slid 1.2% to $20.25 per ounce. Tuesday’s high for silver was $20.42, while the low was $20.13.

Gold and silver funds mostly gained in Tuesday trading.

Gold and silver mining ETFs advanced during the day.

Gold mining shares moved higher on Tuesday.

Silver mining shares improved 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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