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Gold Inches Higher on Weaker U.S. Dollar, Equities

Silver dipped, but miners mostly moved modestly higher


Gold posted a slight gain in Thursday trading as equities markets stalled and the U.S. dollar softened against other currencies.

gold-prices-silver-prices-GLDGold futures for February delivery rose 0.2% to $1,240.20 per ounce on Thursday, according to CME Group. Gold traded as high as $1,244.90 and as low as $1,235.80. Bullion closed in London at $1,244, according to BullionVault.

All That Glitters Is Not Goldcorp – GG
All That Glitters Is Not Goldcorp – GG

Silver futures for March delivery sank 0.4%, to $20.5 per ounce. Thursday’s high for silver was $20.25, while the low was $19.97.

Metal funds were mixed on Thursday.

  • The SPDR Gold Shares (GLD) added 0.1%.
  • The iShares Gold Trust (IAU) rose 0.2%.
  • The iShares Silver Trust (SLV) dipped 0.4%.

Mining ETFs improved during the day.

  • The Market Vectors Gold Miners ETF (GDX) increased 1%.
  • The Market Vectors Junior Gold Miners ETF (GDXJ) climbed 1.5%.
  • The Global X Silver Miners ETF (SIL) moved up 1.7%.

Gold stocks mostly climbed on Thursday.

  • Agnico-Eagle Mines (AEM) fell 1%.
  • Barrick Gold (ABX) rose 0.9%.
  • Eldorado Gold (EGO) jumped 3.6%.
  • Goldcorp (GG) added 0.6%.
  • Kinross Gold (KGC) increased 0.8%.
  • Newmont Mining (NEM) gained 1.6%.
  • NovaGold Resources (NG) moved up 0.4%.
  • Yamana Gold (AUY) improved 0.8%.

Silver mining shares mostly advanced during the day.

  • Coeur d’Alene Mines (CDE) dipped 0.5%.
  • Hecla Mining (HL) added 0.6%.
  • Pan American Silver (PAAS) rose 1%.
  • Silver Wheaton (SLW) increased 1.2%.
  • Silver Standard Resources (SSRI) moved up 1%.

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.

Article printed from InvestorPlace Media,

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