Gold gained slightly in Thursday trading, breaking a three-session losing streak. The metal’s gain comes as investors await the release of the Labor Department’s December jobs report on Friday morning.
Gold futures for February delivery rose 0.3% to $1,229.40 per ounce on Thursday, according to CME Group. Gold traded as high as $1,230.90 and as low as $1,222.80. Bullion closed in London at $1,230, according to BullionVault.
Silver futures for March delivery climbed 0.7%, to $19.68 per ounce. Thursday’s high for silver was $19.71, while the low was $19.38.
Metal funds improved on Thursday.
- The SPDR Gold Shares (GLD) moved up 0.3%.
- The iShares Gold Trust (IAU) added 0.2%.
- The iShares Silver Trust (SLV) was flat.
Mining ETFs sank during the day.
- The Market Vectors Gold Miners ETF (GDX) fell 1.5%.
- The Market Vectors Junior Gold Miners ETF (GDXJ) dropped 2.1%.
- The Global X Silver Miners ETF (SIL) slid 2.3%.
Gold stocks mostly declined on Thursday.
- Agnico-Eagle Mines (AEM) dropped 3%.
- Barrick Gold (ABX) fell 1.3%.
- Eldorado Gold (EGO) slid 2.6%.
- Goldcorp (GG) rose 1.3%.
- Kinross Gold (KGC) sank 2.4%.
- Newmont Mining (NEM) faded 0.9%.
- NovaGold Resources (NG) was flat.
- Yamana Gold (AUY) slumped 3.1%.
Silver mining shares retreated during the day.
- Coeur d’Alene Mines (CDE) tumbled 4.4%.
- Hecla Mining (HL) dropped 3.8%.
- Pan American Silver (PAAS) fell 1.4%.
- Silver Wheaton (SLW) sank 3.3%.
- Silver Standard Resources (SSRI) pulled back 2.9%.
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.