Gold rose as investors mulled weaker-than-expected U.S. retail sales in October, rising violence around Syria and continued delays in implementing Greece’s latest bailout.
Gold futures for December delivery rose to $1,730.10 on Wednesday, 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 increased to $32.88 per ounce. Wednesday’s high for silver was $32.90, while the low was $32.37.
Gold and silver funds were mostly stationary in Wednesday trading.
- The SPDR Gold Trust (NYSE:) rose 0.2%.
- The iShares Gold Trust (NYSE:) also unchanged.
- The iShares Silver Trust (NYSE:) rose 0.8%.
Gold and silver mining ETFs retreated during the day.
- The Market Vectors Gold Miners ETF (NYSE:) slid 4.6%.
- The Market Vectors Junior Gold Miners ETF (NYSE:) declined 5%.
- The Global X Silver Miners ETF (NYSE:) declined 4.9%.
Gold mining shares moved lower on Wedesday, with NovaGold Resources (NYSE:
) falling the most.
- Agnico-Eagle Mines (NYSE:) moved down 1.4%.
- Barrick Gold (NYSE:) dropped 3.9%.
- Eldorado Gold (NYSE:) fell 2%.
- Goldcorp (NYSE:) declined 3.8%.
- Kinross Gold (NYSE:) sank 4.4%.
- Newmont Mining (NYSE:) moved down 3%.
- NovaGold Resources plunged 7.3%.
- Yamana Gold (NYSE:) slid 4.1%.
Silver mining shares retreated on Wednesday.
- Coeur d’Alene Mines (NYSE:) fell 2.7%.
- Hecla Mining (NYSE:) dropped 4.7%.
- Pan American Silver (NASDAQ:) sank 5.1%.
- Silver Wheaton (NYSE:) plunged 6.7%.
- Silver Standard Resources (NASDAQ:) moved down 6.7%.
As of this writing, Christopher Freeburn did not hold a position in any of the aforementioned securities. Adrian Ash of contributed to this report.
