Gold prices gained modestly in Monday trading as spreading unrest in Ukraine stoked the metal’s safe haven appeals. Bloody clashes between Ukrainian military forces and pro-Russian militias over the weekend reignited fears that Ukraine could degenerate into civil war, raising the possibility of a Russian invasion.
Gold futures for June delivery rose 0.5% to $1,309.30 per ounce on Monday, according to CME Group. Gold prices were as high as $1,315.80 and as low as $1,266.80. Bullion closed in London at $1,312, according to BullionVault.
Silver futures for July delivery inched up 0.1% to $19.57 per ounce. Monday’s high for silver was $19.75, while the low was $18.78.
Here’s how metal-based funds and mining stocks fared on Monday:
Gold and Silver Funds
- The SPDR Gold Shares (GLD) rose 0.9%.
- The iShares Gold Trust (IAU) gained 1%.
- The iShares Silver Trust (SLV) added 0.8%.
Gold and Silver Mining ETFs
- The Market Vectors Gold Miners ETF (GDX) increased 0.4%.
- The Market Vectors Junior Gold Miners ETF (GDXJ) climbed 1.2%.
- The Global X Silver Miners ETF (SIL) sank 0.5%.
Gold Miners
- Agnico Eagle Mines (AEM) slid 0.9%.
- Barrick Gold Corporation (ABX) rose 0.4%.
- Eldorado Gold (EGO) added 0.8%.
- Goldcorp (GG) gained 0.3%.
- Kinross Gold (KGC) increased 0.2%.
- Newmont Mining (NEM) moved up 0.5%.
- NovaGold (NG) retreated 2%.
- Yamana Gold (AUY) sank 0.5%.
Silver Miners
- Coeur d’Alene Mines (CDE) fell 1.6%.
- Hecla Mining (HL) decreased 1.3%.
- Pan American Silver (PAAS) slid 0.6%.
- Silver Wheaton (SLW) declined 0.8%.
- Silver Standard Resources (SSRI) dropped 1.1%.
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.
