Gold and Silver Report: Ukraine Violence Pushes Gold Prices Higher

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.

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.

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