Gold backed away from Thursday’s 11-month high after the U.S. unemployment rate fell unexpectedly and oil prices continued to decline.
Gold futures for December delivery dropped to $1,780.80 on Friday, according to . Gold traded as high as $1,798.10 and as low as $1,774.50. Gold bullion closed in London at $1,785, according to .
Silver futures for December delivery also slipped, closing down at $34.57 per ounce. Friday’s high for silver was $35.15, while the low was $34.32.
Gold and silver funds edged lower in Friday trading.
- The SPDR Gold Trust (NYSE:) fell 0.6%.
- The iShares Gold Trust (NYSE:) also slipped 0.6%.
- The iShares Silver Trust (NYSE:) dropped 1.4%.
Gold and silver mining ETFs posted losses for the day.
- The Market Vectors Gold Miners ETF (NYSE:) slid 1.1%.
- The Market Vectors Junior Gold Miners ETF (NYSE:) declined 1.3%.
- The Global X Silver Miners ETF (NYSE:) dipped 0.7%.
Gold mining shares fell on Friday, with NovaGold Resources (AMEX:) and Yamana Gold
(NYSE:) dropping the hardest.
- Agnico-Eagle Mines (NYSE:) dipped 0.5%
- Barrick Gold (NYSE:) also slipped 0.5%.
- Eldorado Gold (NYSE:) fell 1.9%.
- Goldcorp (NYSE:) edged down 0.1%.
- Kinross Gold (NYSE:) dropped 2.2%.
- Newmont Mining (NYSE:) moved lower 0.7%.
- NovaGold Resources tumbled 3%.
- Yamana Gold also fell 3%.
Silver mining shares closed down in Friday trading.
- Coeur d’Alene Mines (NYSE:) slid 1.2%.
- Hecla Mining (NYSE:) fell 1.8%.
- Pan American Silver (NASDAQ:) dipped 0.6%.
- Silver Wheaton (NYSE:) declined 1.7%.
- Silver Standard Resources (NASDAQ:) lost 2.4%.
As of this writing, Christopher Freeburn did not hold a position in any of the aforementioned securities. Adrian Ash of contributed to this report.
