Gold and Silver Report: Ukraine Violence Pushes Gold Prices Higher

Silver edged up, while mining stocks were mixed

By Christopher Freeburn, InvestorPlace Writer

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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 and silver gold pricesGold 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.

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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.


Article printed from InvestorPlace Media, https://investorplace.com/2014/05/gold-and-silver-gold-prices/.

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