Gold edged higher in Friday trading as the U.S. dollar fell against other currencies and a government report showed rising consumer prices. The metal posted a small gain for the week.
Gold futures for April delivery inched up 0.1% to $1,592.60 per ounce on Friday, according to CME Group. Gold traded as high as $1,597.90 and as low as $1,587.30. Gold bullion closed in London at $1,595, according to BullionVault.
Silver futures for April delivery rose 0.2% to $28.83 per ounce. Friday’s high for silver was $28.96, while the low was $28.72.
Gold and silver funds were mostly higher in Friday trading.
- The SPDR Gold Trust (NYSE:GLD) climbed 0.2%.
- The iShares Gold Trust (NYSE:IAU) also rose 0.2%.
- The iShares Silver Trust (NYSE:SLV) was flat.
Gold and silver mining ETFs moved up during the day.
- The Market Vectors Gold Miners ETF (NYSE:GDX) rose 0.2%.
- The Market Vectors Junior Gold Miners ETF (NYSE:GDXJ) increased 1.6%.
- The Global X Silver Miners ETF (NYSE:SIL) edged up 0.2%.
Gold mining shares mostly gained on Friday.
- Agnico-Eagle Mines (NYSE:AEM) fell 0.4%.
- Barrick Gold (NYSE:ABX) rose 0.2%
- Eldorado Gold (NYSE:EGO) increased 0.9%.
- Goldcorp (NYSE:GG) was flat.
- Kinross Gold (NYSE:KGC) slipped 0.4%.
- Newmont Mining (NYSE:NEM) advanced 0.2%.
- NovaGold Resources (AMEX:NG) climbed 1.3%.
- Yamana Gold (NYSE:AUY) slipped 0.1%.
Silver mining shares also mostly advanced.
- Coeur d’Alene Mines (NYSE:CDE) increased 2%.
- Hecla Mining (NYSE:HL) rose 1.4%.
- Pan American Silver (NASDAQ:PAAS) improved 0.7%.
- Silver Wheaton (NYSE:SLW) dipped 0.8%.
- Silver Standard Resources (NASDAQ:SSRI) gained 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.