Squabbling by European leaders over measures to cut Greece’s debt undermined investor confidence in the eurozone, sending gold down in Tuesday trading.
Gold futures for December delivery dropped to $1,724.80 on Tuesday, according to CME Group. Gold traded as high as $1,733.30 and as low as $1,717.60. Gold bullion closed in London at $1,728, according to BullionVault.
Silver futures for December delivery fell slightly to $32.49 per ounce. Tuesday’s high for silver was $32.83, while the low was $32.10.
Gold and silver funds were mixed in Tuesday trading.
- The SPDR Gold Trust (NYSE:) edged down 0.2%.
- The iShares Gold Trust (NYSE:) also slid 0.2%.
- The iShares Silver Trust (NYSE:) inched up 0.1%.
Gold and silver mining ETFs pulled back during the day.
- The Market Vectors Gold Miners ETF (NYSE:) fell 1.1%.
- The Market Vectors Junior Gold Miners ETF (NYSE:) declined 2.3%.
- The Global X Silver Miners ETF (NYSE:) retreated 1.4%.
Gold mining shares were mostly lower on Tuesday, with Kinross Gold (NYSE:
) falling the most.
- Agnico-Eagle Mines (NYSE:) dipped 1.1%.
- Barrick Gold (NYSE:) slipped 1.6%.
- Eldorado Gold (NYSE:) rose 1.2%.
- Goldcorp (NYSE:) fell 1.5%.
- Kinross Gold declined 2.3%.
- Newmont Mining (NYSE:) moved down 1.1%.
- NovaGold Resources (NYSE:) dropped 1.3%.
- Yamana Gold (NYSE:) dipped 0.6%.
Silver mining shares mostly retreated on Tuesday.
- Coeur d’Alene Mines (NYSE:) inched up 0.1%.
- Hecla Mining (NYSE:) fell 1.2%.
- Pan American Silver (NASDAQ:) also dipped 1.2%.
- Silver Wheaton (NYSE:) slid 0.9%.
- Silver Standard Resources (NASDAQ:) declined 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.
