Gold futures about traded 0.6% lower Tuesday, with a final bid of $1,610.50 per ounce, according to CME Group data. Gold prices reached a high of $1,627.50 and a low of $1,610. Gold bullion finished lower at $1,616 per ounce for Tuesday’s trading session in London, according to BullionVault.
“With wider markets setting the flow direction for gold bullion, underlying demand for the metal remains soft and has barely provided any significant direction,” Swiss precious metals refiner MKS said in a statement.
Silver futures traded 0.4% lower Tuesday, with a final bid of $27.89 per ounce. Tuesday’s high for silver reached $28.23, and the low was $28.07.
Gold and silver trusts were mixed.
- The SPDR Gold Trust (NYSE:GLD) finished down 0.6%.
- The iShares Gold Trust (NYSE:IAU) was 0.5% lower.
- The iShares Silver Trust (NYSE:SLV) climbed 0.9%.
Gold and silver mining ETFs showed 2% or greater losses.
- The Market Vectors Gold Miners ETF (NYSE:GDX) fell 2.2%.
- The Market Vectors Junior Gold Miners ETF (NYSE:GDXJ) finished 2.1% lower.
- The Global X Silver Miners ETF (NYSE:SIL) was 2% lower.
Gold mining shares showed varying losses.
- Agnico-Eagle Mines (NYSE:AEM) was down 1.1%.
- Barrick Gold (NYSE:ABX) finished 0.5% lower.
- Eldorado Gold (NYSE:EGO) dove 4.8%.
- Goldcorp (NYSE:GG) finished 1.5% lower, amid news that its Q2 earnings missed analyst estimates.
- Kinross Gold (NYSE:KGC) was 2.6% lower.
- Newmont Mining (NYSE:NEM) lost 1.8%.
- NovaGold Resources (AMEX:NG) was 0.3% lower.
- Yamana Gold (NYSE:AUY) finished down 2.3%.
Silver mining shares finished broadly lower Tuesday, with Pan American Silver (NASDAQ:PAAS) being the exception.
- Coeur d’Alene Mines (NYSE:CDE) was down 2.7%.
- Hecla Mining (NYSE:HL) finished 2.8% lower.
- Pan American Silver was 1.6% higher.
- Silver Wheaton (NYSE:SLW) dropped 1.9%.
- Silver Standard Resources (NASDAQ:SSRI) fell 2.1%.
As of this writing, Angela Nazworth did not hold a position in any of the aforementioned securities. Adrian Ash of BullionVault contributed to this report.
