Comments from the head of the European Central Bank, indicating that it would continue buy bonds and keep interest rates low, sent gold soaring to an 11-month high on Thursday and moving it closer to $1,800 per ounce.
Gold futures for December delivery jumped to $1,796.50 on Thursday, according to . Gold traded as high as $1,797.70 and as low as $1,779.90. Gold bullion closed in London at $1,792, according to .
Silver futures for December delivery also edged higher, closing up at $35.10 per ounce. Thursday’s high for silver was $35.17, while the low was $34.65.
Gold and silver funds moved up in Thursday trading.
- The SPDR Gold Trust (NYSE:) rose 0.7%.
- The iShares Gold Trust (NYSE:) increased 0.8%.
- The iShares Silver Trust (NYSE:) gained 1.3%.
Gold and silver mining ETFs posted solid gains during the day.
- The Market Vectors Gold Miners ETF (NYSE:) climbed 2.9%.
- The Market Vectors Junior Gold Miners ETF (NYSE:) jumped 3.2%.
- The Global X Silver Miners ETF (NYSE:) gained 3.5%.
Gold mining shares moved sharply higher Thursday, with Kinross Gold (NYSE:
) rising the most.
- Agnico-Eagle Mines (NYSE:) increased 2.5%
- Barrick Gold (NYSE:) rose 2.6%.
- Eldorado Gold moved up 1.9%.
- Goldcorp (NYSE:) climbed 2.4%.
- Kinross Gold jumped 6.2%.
- Newmont Mining (NYSE:) rose 1.4%.
- NovaGold Resources (AMEX:) edged up 0.4%.
- Yamana Gold (NYSE:) advanced 4.9%
Silver mining shares sprinted in Thursday trading.
- Coeur d’Alene Mines (NYSE:) gained 4.1%.
- Hecla Mining (NYSE:) increased 3.9%.
- Pan American Silver (NASDAQ:) climbed 2.6%.
- Silver Wheaton (NYSE:) leaped 5.1%.
- Silver Standard Resources (NASDAQ:) rose 4.9%.
As of this writing, Christopher Freeburn did not hold a position in any of the aforementioned securities. Adrian Ash of contributed to this report.
