Gold prices edged higher for a second consecutive session on Tuesday, while U.S. equities markets retreated.
On a day with mixed movement for gold mining stocks, NovaGold Resources rose higher than rival miners. NovaGold Resources ended the session up more than 2%.
Gold futures for June delivery advanced 0.1% to $1,294.60 per ounce on Tuesday, according to CME Group. Gold prices were as high as $1,297.20 and as low as $1,286. Bullion closed in London at $1,296, according to BullionVault.
Silver futures for July delivery climbed 5 cents to $19.40 per ounce. Tuesday’s high for silver was $19.47, while the low was $19.23.
Here’s how metal-based funds and mining stocks fared on Tuesday:
Gold and Silver Funds
- The SPDR Gold Shares (GLD) increased 0.1%.
- The iShares Gold Trust (IAU) gained 0.1%.
- The iShares Silver Trust (SLV) rose 0.2%.
Gold and Silver Mining ETFs
- The Market Vectors Gold Miners ETF (GDX) slipped 0.2%.
- The Market Vectors Junior Gold Miners ETF (GDXJ) sank 0.6%.
- The Global X Silver Miners ETF (SIL) fell 0.9%.
Gold Miners
- Agnico Eagle Mines (AEM) slid 1.2%.
- Barrick Gold (ABX) rose 0.6%.
- Eldorado Gold added 0.7%.
- Goldcorp (GG) inched up 0.1%.
- Kinross Gold (KGC) sank 0.8%.
- Newmont Mining (NEM) climbed 1.2%.
- NovaGold Resources gained 2.3%.
- Yamana Gold (AUY) was flat.
Silver Miners
- Coeur d’Alene Mines (CDE) fell 2.9%.
- Hecla Mining (HL) sank 2.3%.
- Pan American Silver (PAAS) rose 0.2%.
- Silver Wheaton (SLW) declined 1.1%.
- Silver Standard Resources (SSRI) slid 1.9%.
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.
