Gold remained mostly unchanged on Wednesday as fears of a global economic slowdown were reinforced by lowered outlooks from Alcoa (NYSE:) and Chevron (NYSE:).
Gold futures for December delivery rose slightly to $1,765.10 on Wednesday, according to . Gold traded as high as $1,770 and as low as $1,758.50. Gold bullion closed in London at $1,766, according to .
Silver futures for December delivery also slipped, closing down at $33.11 per ounce. Wednesday’s high for silver was $34.19, while the low was $33.75.
Gold and silver funds were mixed in Wednesday trading.
- The SPDR Gold Trust (NYSE:) edged down 0.1%.
- The iShares Gold Trust (NYSE:) also slipped 0.1%.
- The iShares Silver Trust (NYSE:) moved up 0.4%.
Gold and silver mining ETFs were also mixed for the day.
- The Market Vectors Gold Miners ETF (NYSE:) rose 0.8%.
- The Market Vectors Junior Gold Miners ETF (NYSE:) increased 0.9%.
- The Global X Silver Miners ETF (NYSE:) dipped 0.5%.
Gold mining shares mostly edged higher on Wednesday, with Yamana Gold (NYSE:) posting the largest gain.
- Agnico-Eagle Mines (NYSE:) slipped 0.4%
- Barrick Gold (NYSE:) declined 0.8%.
- Eldorado Gold (NYSE:) fell 0.9%.
- Goldcorp (NYSE:) tumbled improved 0.2%.
- Kinross Gold (NYSE:) gained 0.3%.
- Newmont Mining (NYSE:) rose 0.6%.
- NovaGold Resources (AMEX:) climbed 1.2%.
- Yamana Gold moved up 1.7%.
Silver mining shares closed higher in Wednesday trading.
- Coeur d’Alene Mines (NYSE:) rose 1.1%.
- Hecla Mining (NYSE:) edged up 0.2%.
- Pan American Silver (NASDAQ:) gained 0.1%.
- Silver Wheaton (NYSE:) increased 0.9%.
- Silver Standard Resources (NASDAQ:) climbed 1.1%.
As of this writing, Christopher Freeburn did not hold a position in any of the aforementioned securities. Adrian Ash of contributed to this report.
