Gold resumed its march toward a six-month high as the dollar slipped and investors sought security in the face of warnings of a U.S. credit downgrade from Moody’s.
Gold futures for December delivery rose to $1,734.10 on Tuesday, according to . Gold traded as high as $1,740.50 and as low as $1,728.70. Gold bullion closed in London at $1,735, according to .
Silver futures slipped slightly to $33.515 an ounce. Monday’s high for silver hit $33.875, while the low was $33.38.
Gold and silver funds edged up modestly on Tuesday.
- The SPDR Gold Trust (NYSE:) finished up 0.36%.
- The iShares Gold Trust (NYSE:) also was up 0.36%.
- The iShares Silver Trust (NYSE:) rose 0.37%.
Gold and silver mining ETFs also moved upward.
- The Market Vectors Gold Miners ETF (NYSE:) increased 0.67%.
- The Market Vectors Junior Gold Miners ETF (NYSE:) gained 1.26%.
- The Global X Silver Miners ETF (NYSE:) rose 0.53%.
Gold mining shares showed mostly small gains for the day, with Eldorado Gold
(NYSE:) leading the way.
- Agnico-Eagle Mines (NYSE:) inched up 0.40%.
- Barrick Gold (NYSE:) gained 0.20%.
- Eldorado Gold increased 2.75%.
- Goldcorp (NYSE:) rose 0.31%.
- Kinross Gold (NYSE:) edged up 0.21%.
- Newmont Mining (NYSE:) finished up 1.25%.
- NovaGold Resources (AMEX:) was unchanged.
- Yamana Gold (NYSE:) closed down 2.12%
Silver mining shares also experienced the uptick.
- Coeur d’Alene Mines (NYSE:) was flat.
- Hecla Mining (NYSE:) rose 0.88%.
- Pan American Silver (NASDAQ:) edged up 0.16%.
- Silver Wheaton (NYSE:) gained 0.36%.
- Silver Standard Resources (NASDAQ:) increased 1.55%.
As of this writing, Christopher Freeburn did not hold a position in any of the aforementioned securities. Adrian Ash of contributed to this report.
