Despite falling crude oil prices and a stronger U.S. dollar, gold moved up slightly on Wednesday after payroll processor ADP delivered a better-than-expected report on the U.S. jobs market.
Gold futures for December delivery rose to $1,779.80 on Wednesday, according to . Gold traded as high as $1,784 and as low as $1,773. Gold bullion closed in London at $1,780, according to .
Silver futures for December delivery also edged higher, closing up at $34.69 per ounce. Wednesday’s high for silver was $34.90, while the low was $34.515.
Gold and silver funds trended up in Wednesday trading.
- The SPDR Gold Trust (NYSE:) inched up 0.2%.
- The iShares Gold Trust (NYSE:) also rose 0.2%.
- The iShares Silver Trust (NYSE:) was flat.
Gold and silver mining ETFs moved lower during the day.
- The Market Vectors Gold Miners ETF (NYSE:) dropped 1.6%.
- The Market Vectors Junior Gold Miners ETF (NYSE:) slipped 0.8%.
- The Global X Silver Miners ETF (NYSE:) declined 1.2%.
Gold mining shares mostly fell on Wednesday, with Eldorado Gold (NYSE:
) posting the sharpest decline.
- Agnico-Eagle Mines (NYSE:) rose 0.1%
- Barrick Gold (NYSE:) fell 1.2%.
- Eldorado Gold dropped 2.2%.
- Goldcorp (NYSE:) slid 0.9%.
- Kinross Gold (NYSE:) dipped 1%.
- Newmont Mining (NYSE:) moved lower 0.4%.
- NovaGold Resources (AMEX:) declined 1.8%.
- Yamana Gold (NYSE:) fell 1.6%
Silver mining shares declined in Wednesday trading.
- Coeur d’Alene Mines (NYSE:) fell 2.3%.
- Hecla Mining (NYSE:) also dropped 2.3%.
- Pan American Silver (NASDAQ:) slipped 0.9%.
- Silver Wheaton (NYSE:) edged lower 0.1%.
- Silver Standard Resources (NASDAQ:) tumbled 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.
