Gold prices posted a modest gain in Friday trading, rising for a third straight session as tensions in eastern Ukraine continue. Gold prices ended the week up 0.5%, bolstered by strengthening safe-haven appeal. U.S. equities markets retreated during the day.
Newmont Mining (NEM) reported adjusted first-quarter earnings of 22 cents a share, topping the 19 cents that Wall Street was expecting. NEM stock moved up 3.8%, outpacing gains by other gold miners during the session.
Gold futures for June delivery added 0.8% to $1,300.80 per ounce on Friday, according to CME Group. Gold prices were as high as $1,305.20 and as low as $1,290.40. Bullion closed in London at $1,304, according to BullionVault.
Silver futures for May delivery were flat at $19.69 per ounce. Friday’s high for silver was $19.81, while the low was $19.52.
Here’s how metal-based funds and mining stocks fared on Friday:
Gold and Silver Funds
- The SPDR Gold Shares (GLD) rose 0.7%.
- The iShares Gold Trust (IAU) increased 0.7%.
- The iShares Silver Trust (SLV) inched up 0.1%.
Gold and Silver Mining ETFs
- The Market Vectors Gold Miners ETF (GDX) climbed 2.2%.
- The Market Vectors Junior Gold Miners ETF (GDXJ) surged 4.5%.
- The Global X Silver Miners ETF (SIL) added 0.4%.
Gold Miners
- Agnico Eagle Mines (AEM) rose 2.7%.
- Barrick Gold (ABX) climbed 2.4%.
- Eldorado Gold (EGO) added 2.2%.
- Goldcorp (GG) gained 1.3%.
- Kinross Gold (KGC) increased 2.2%.
- NEM advanced 3.8%.
- NovaGold (NG) moved up 2.2%.
- Yamana Gold (AUY) edged higher 0.3%.
Silver Miners
- Coeur d’Alene Mines (CDE) slipped 0.1%.
- Hecla Mining (HL) added 0.3%.
- Pan American Silver (PAAS) rose 1.5%.
- Silver Wheaton (SLW) gained 1.1%.
- Silver Standard Resources (SSRI) climbed 3.8%.
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.
