Gold Gets Boost From Weaker U.S. Dollar

by Christopher Freeburn | August 7, 2013 4:34 pm

Gold Silver GLD IAU SLV[1]After sinking to a three-week low early in the session, gold rebounded in Wednesday trading to end the day with a small gain. The metal improved as the U.S. dollar sank against other currencies.

Gold futures for December delivery edged up 0.2% to $1,285.30 per ounce Wednesday, according to CME Group[2]. Gold traded as high as $1,289 and as low as $1,271.80. Gold bullion closed in London at $1,289, according to BullionVault[3].

Silver futures for December delivery dipped 0.1% $19.56 per ounce. Wednesday’s high for silver was $19.61, while the low was $19.15.

Gold and silver funds mostly showed a small improvement in Wednesday trading.

Gold and silver mining ETFs were mixed during the day.

Gold mining shares mostly declined on Wednesday.

Silver mining shares mostly gained 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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