Better-than-expected reports on U.S. first-time unemployment claims and manufacturing activity rallied the dollar, sending gold down slightly in Thursday trading.
Gold futures for December delivery slipped to $1,715.50 on Thursday, according to CME Group. Gold traded as high as $1,727.50 and as low as $1,715.10. Gold bullion closed in London at $1,718, according to BullionVault.
Silver futures for December delivery also dipped, closing down at $32.25 per ounce. Thursday’s high for silver was $32.70, while the low was $32.90.
Gold and silver funds moved lower in Thursday trading.
- The SPDR Gold Trust (NYSE:) slipped 0.5%.
- The iShares Gold Trust (NYSE:) also dipped 0.5%.
- The iShares Silver Trust (NYSE:) edged down 0.2%.
Gold and silver mining ETFs mostly declined during the day.
- The Market Vectors Gold Miners ETF (NYSE:) fell 1.7%
- The Market Vectors Junior Gold Miners ETF (NYSE:) dropped 0.5%.
- The Global X Silver Miners ETF (NYSE:) increased 0.1%.
Gold mining shares mostly declined on Thursday, with Barrick Gold (NYSE:) falling hard after
.
- Agnico-Eagle Mines (NYSE:) slid 0.3%.
- Barrick Gold plunged 9.4%.
- Eldorado Gold (NYSE:) dipped 0.2%.
- Goldcorp (NYSE:) rose 0.3%.
- Kinross Gold (NYSE:) retreated 0.9%
- Newmont Mining (NYSE:) declined 2.5%.
- NovaGold Resources (AMEX:) edged down 0.2%.
- Yamana Gold (NYSE:) fell 0.6%.
Silver mining shares broadly climbed Thursday.
- Coeur d’Alene Mines (NYSE:) jumped 3%.
- Hecla Mining (NYSE:) increased 0.8%.
- Pan American Silver (NASDAQ:) gained 3%.
- Silver Wheaton (NYSE:) gained 1.6%.
- Silver Standard Resources (NASDAQ:) rose 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.
