Gold Advances as U.S. Dollar Retreats

by Christopher Freeburn | December 16, 2013 4:38 pm

Gold Silver GLD IAU SLV[1]Gold gained modestly in Monday trading as the U.S. dollar declined against other currencies and crude oil surged. The metal rose as investors looked ahead to the outcome of the Federal Reserve’s Federal Open Markets Committee meeting later this week, which could yield signals as to the timing of stimulus tapering.

Gold futures for February increased 0.8% to $1,244.40 per ounce on Monday, according to CME Group[2]. Gold traded as high as $1,251.70 and as low as $1,227.20. Bullion closed in London at $1,242, according to BullionVault[3].

Silver futures for March delivery jumped 2.5%, to $20.10 per ounce. Monday’s high for silver was $20.29, while the low was $19.45.

Metal funds moved higher on Monday.

Mining ETFs improved during the day.

Gold stocks were mixed on Monday.

Silver mining shares 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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