Gold Drops for Third Consecutive Session

by Christopher Freeburn | September 24, 2013 4:28 pm

Gold Silver GLD IAU SLV[1]Continued uncertainty over exactly when the Federal Reserve will begin reducing its monthly bond-buying helped gold trading waver Tuesday, and the metal settled lower for a third straight session.

Gold futures for December delivery fell 0.8% to $1,316.30 per ounce on Tuesday, according to CME Group[2]. Gold traded as high as $1,329.40 and as low as $1,305.50. Gold bullion closed in London at $1,324, according to BullionVault[3].

Silver futures for December delivery dropped 1.2% to $21.59 per ounce. Tuesday’s high for silver was $22.04, while the low was $21.33.

Gold and silver funds edged higher in Tuesday trading.

Gold and silver mining ETFs mostly fell during the day.

Gold mining shares were mixed on Tuesday.

Silver mining shares sank 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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