Gold futures for December delivery sank 0.2% to $1,268.40 per ounce on Wednesday, according to CME Group. Gold traded as high as $1,279.80 and as low as $1,265. Bullion closed in London at $1,276, according to BullionVault.
Silver futures for December fell 1.6% to $20.44 per ounce. Wednesday’s high for silver was $20.86, while the low was $20.41.
Metal funds were mixed in Wednesday trading.
- The SPDR Gold Shares (GLD) rose 0.3%.
- The iShares Gold Trust (IAU) moved up 0.3%.
- The iShares Silver Trust (SLV) fell 1.1%.
Mining ETFs moved higher during the day.
- The Market Vectors Gold Miners ETF (GDX) gained 0.4%.
- The Market Vectors Junior Gold Miners ETF (GDXJ) climbed 1.1%.
- The Global X Silver Miners ETF (SIL) advanced 0.8%.
Gold stocks mostly improved on Wednesday.
- Agnico-Eagle Mines (AEM) added .5%.
- Barrick Gold (ABX) edged up 0.3%.
- Eldorado Gold (EGO) slipped 0.3%.
- Goldcorp (GG) climbed 1%.
- Kinross Gold (KGC) gained 1.6%.
- Newmont Mining (NEM) rose 1.2%.
- NovaGold Resources (NG) increased 2.3%.
- Yamana Gold (AUY) moved up 0.4%.
Silver mining shares mostly advanced during the day.
- Coeur d’Alene Mines (CDE) increased 0.4%.
- Hecla Mining (HL) added 0.6%.
- Pan American Silver (PAAS) moved up 0.6%.
- Silver Wheaton (SLW) gained 1.7%.
- Silver Standard Resources (SSRI) fell 1.5%.
As of this writing, Christopher Freeburn did not hold a position in any of the aforementioned securities. Adrian Ash of BullionVault contributed to this report.