Gold recovered from yesterday’s losses, moving back above $1,700 an ounce in Thursday trading, buoyed by signals that the Japan’s central bank will ease monetary policy and better-than-expected economic news from the U.K.
Gold futures for December delivery rose to $1,713 on Thursday, according to CME Group. Gold traded as high as $1,718.90 and as low as $1,702.30. Gold bullion closed in London at $1,716, according to BullionVault.
Silver futures for December delivery also increased, closing up at $32.08 per ounce. Thursday’s high for silver was $32.26, while the low was $31.74.
Gold and silver funds moved higher in Thursday trading.
- The SPDR Gold Trust (NYSE:) rose 0.7%.
- The iShares Gold Trust (NYSE:) also inched up 0.7%.
- The iShares Silver Trust (NYSE:) climbed 1.3%.
Gold and silver mining ETFs advanced during the day.
- The Market Vectors Gold Miners ETF (NYSE:) jumped 3%
- The Market Vectors Junior Gold Miners ETF (NYSE:) gained 1.9%.
- The Global X Silver Miners ETF (NYSE:) rose 1.3%.
Gold mining shares moved higher on Thursday, with Agnico-Eagle Mines (NYSE:) rising the most.
- Agnico-Eagle Mines soared 9.1%.
- Barrick Gold (NYSE:) gained 2.7%.
- Eldorado Gold (NYSE:) climbed 2.5%.
- Goldcorp (NYSE:) surged 6.8%.
- Kinross Gold (NYSE:) edged up 0.8%
- Newmont Mining (NYSE:) increased 1.9%.
- NovaGold Resources (NYSE:) added 1.8%.
- Yamana Gold (NYSE:) rose 2.5
Silver mining shares posted gains on Thursday.
- Coeur d’Alene Mines (NYSE:) jumped 4.7%.
- Hecla Mining (NYSE:) advanced 4%.
- Pan American Silver (NASDAQ:) increased 2.3%.
- Silver Wheaton (NYSE:) rose 4.3%.
- Silver Standard Resources (NASDAQ:) moved up 3.1%.
As of this writing, Christopher Freeburn did not hold a position in any of the aforementioned securities. Adrian Ash of contributed to this report.
