After sinking to a three-week low early in the session, gold rebounded in Wednesday trading to end the day with a small gain. The metal improved as the U.S. dollar sank against other currencies.
Gold futures for December delivery edged up 0.2% to $1,285.30 per ounce Wednesday, according to CME Group. Gold traded as high as $1,289 and as low as $1,271.80. Gold bullion closed in London at $1,289, according to BullionVault.
Silver futures for December delivery dipped 0.1% $19.56 per ounce. Wednesday’s high for silver was $19.61, while the low was $19.15.
Gold and silver funds mostly showed a small improvement in Wednesday trading.
- The SPDR Gold Trust (GLD) rose 0.2%.
- The iShares Gold Trust (IAU) inched up 0.1%.
- The iShares Silver Trust (SLV) was unchanged.
Gold and silver mining ETFs were mixed during the day.
- The Market Vectors Gold Miners ETF (GDX) slipped 0.4%.
- The Market Vectors Junior Gold Miners ETF (GDXJ) climbed 0.5%.
- The Global X Silver Miners ETF (SIL) was flat.
Gold mining shares mostly declined on Wednesday.
- Agnico-Eagle Mines (AEM) added 0.9%.
- Barrick Gold (ABX) dipped 0.6%.
- Eldorado Gold (EGO) advanced 0.7%.
- Goldcorp (GG) fell 0.9%.
- Kinross Gold (KGC) slid 0.6%.
- Newmont Mining (NEM) also fell 0.6%.
- NovaGold Resources (NG) tumbled 3.3%.
- Yamana Gold (AUY) moved down 0.5%.
Silver mining shares mostly gained during the day.
- Coeur d’Alene Mines (CDE) sank 0.2%.
- Hecla Mining (HL) climbed 0.3%.
- Pan American Silver (PAAS) rose 0.6%.
- Silver Wheaton (SLW) added 0.2%.
- Silver Standard Resources (SSRI) was flat.
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.
