Gold was moving lower but trading above $1,810 early Wednesday amid a mixed bag of economic reports.
Spot gold was trading at $1,821 Bid, $1,822 Ask, having hit a high of $1,834.50 and a low of $1,810.70. The London p.m. gold fix was set at $1,813.50. Spot silver was trading at $41.43 Bid, $41.53 Ask, hitting a high of $41.99 and a low of $41.08. The London a.m. fix price was set at $41.35.
The August ADP Employment Change report came in at a lower-than-expected 91,000, while the Chicago Purchasing Managers Index and July factory manufactured goods orders rose to higher-than-expected levels.
Looking at trading on the exchanges, gold trusts were lower and the iShares Silver Trust was higher early Wednesday.
- The SPDR Gold Trust (NYSE:GLD) was around 0.9% lower.
- The iShares Gold Trust (NYSE:IAU) was down 0.95%.
- The iShares Silver Trust (NYSE:SLV) was up around 0.2%
Gold mining ETFs were almost flat while the Global X Silver Miners ETF was up over 2%.
- The Market Vectors Gold Miners ETF (NYSE:GDX) was showing no to slight gains.
- The Market Vector Junior Gold Miners ETF (NYSE:GDXJ) was up around 0.1%.
- The Global X Silver Miners ETF (NYSE:SIL) was more than 2% higher.
Shares of gold miners were mixed early Wednesday.
- Agnico Eagle Mines (USA) (NYSE:AEM) was down nearly 0.5%.
- Barrick Gold Corp. (NYSE:ABX) was up around 0.3%.
- Goldcorp (NYSE:GG) was lower by about 0.4%.
- Newmont Mining Corp. (NYSE:NEM) was around 0.3% higher.
- NovaGold Resources (USA) (AMEX:NG) was about 0.1% higher.
Silver mining shares were moving higher.
- Coeur D’Alene Mines Corp. (NYSE:CDE) was up more than 0.3%.
- Hecla Mining (NYSE:HL) was more than 0.6% higher.
- Pan American Silver Corp. (USA) (NASDAQ:PAAS) was up around 1.15%.
- Silver Wheaton Corp. (USA) (NYSE:SLW) was around 1.3% higher.
- Silver Standard Resources Inc. (USA) (NASDAQ:SSRI) was around 1% higher.
The author does not hold positions in any of the above-mentioned investments.