Growing uncertainty in Europe fueled a rise in the U.S. dollar, which sent gold futures tumbling to a six-week low on Friday.
Gold futures for December delivery fell to $1,724 on Friday, according to . Gold traded as high as $1,744.70 and as low as $1,716. Gold bullion closed in London at $1,726, according to BullionVault.
Silver futures for December delivery also closed down at $32.10 per ounce. Friday’s high for silver was $32.92, while the low was $31.95.
Gold and silver funds slid in Friday trading.
- The SPDR Gold Trust (NYSE:) dropped 1%.
- The iShares Gold Trust (NYSE:) also moved down 1%.
- The iShares Silver Trust (NYSE:) fell 2%.
Gold and silver mining ETFs were mixed during the day.
- The Market Vectors Gold Miners ETF (NYSE:) edged up 0.4%.
- The Market Vectors Junior Gold Miners ETF (NYSE:) declined 1.2%.
- The Global X Silver Miners ETF (NYSE:) dipped 0.4%.
Gold mining shares were also mixed on Friday, with NovaGold Resources (AMEX:)
falling the most.
- Agnico-Eagle Mines (NYSE:) was flat.
- Barrick Gold (NYSE:) slid 0.4%.
- Eldorado Gold (NYSE:) rose 1.1%.
- Goldcorp (NYSE:) advanced 1.1%.
- Kinross Gold (NYSE:) dipped 0.2%.
- Newmont Mining (NYSE:) edged down 0.1%.
- NovaGold Resources dropped 2%.
- Yamana Gold (NYSE:) gained 0.5%.
Silver mining shares were mixed in Friday trading.
- Coeur d’Alene Mines (NYSE:) declined 0.9%.
- Hecla Mining (NYSE:) rose 0.3%.
- Pan American Silver (NASDAQ:) fell 1%.
- Silver Wheaton (NYSE:) gained 0.2%.
- Silver Standard Resources (NASDAQ:) moved up 1.8%.
As of this writing, Christopher Freeburn did not hold a position in any of the aforementioned securities. Adrian Ash of contributed to this report.
