Gold and Silver Report: Gold Dips, CDE Stock Slides

Gold prices edged lower on Thursday, declining for the third consecutive session.

gold and silver gold prices CDE stockOn a mixed day for silver miners, Coeur d’Alene Mining (CDE) dropped sharply. CDE announced a first-quarter loss of 19 cents, which was better than the loss of 31 cents that analysts had expected. However, quarterly revenue of $159.6 million, down 7% year-over-year, fell short of the $164.5 million that Wall Street had anticipated. CDE stock closed down almost 3%.

Gold futures for June delivery dipped 0.1% to $1,287.70 per ounce on Thursday, according to CME Group. Gold prices were as high as $1,295.50 and as low as $1,284.80. Bullion closed in London at $1,292, according to BullionVault.

Silver futures for July delivery fell 1% to $19.14 per ounce. Thursday’s high for silver was $19.39, while the low was $19.13.

Here’s how metal-based funds and mining stocks fared on Thursday:

Gold and Silver Funds

  • The SPDR Gold Shares (GLD) was flat.
  • The iShares Gold Trust (IAU) inched up 0.1%.
  • The iShares Silver Trust (SLV) sank 0.8%.

Gold and Silver Mining ETFs

  • The Market Vectors Gold Miners ETF (GDX) slipped 0.1%.
  • The Market Vectors Junior Gold Miners ETF (GDXJ) faded 0.5%.
  • The Global X Silver Miners ETF (SIL) fell 0.7%.

Gold Miners

  • Agnico Eagle Mines (AEM) rose 0.8%.
  • Barrick Gold Corporation (ABX) sank 0.6%.
  • Eldorado Gold (EGO) gained 0.5%.
  • Goldcorp (GG) edged up 0.1%.
  • Kinross Gold (KGC) was unchanged.
  • Newmont Mining (NEM) was flat.
  • NovaGold (NG) added 0.3%.
  • Yamana Gold (AUY) fell 0.8%.

Silver Miners

  • CDE stock retreated 2.9%.
  • Hecla Mining (HL) rose 0.3%.
  • Pan American Silver (PAAS) sank 0.6%.
  • Silver Wheaton (SLW) added 0.7%.
  • Silver Standard Resources (SSRI) slid 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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