Gold soared in Tuesday trading, posting its biggest daily gain in seven weeks as investors awaited the outcome of the U.S. presidential election.
Gold futures for December delivery jumped to $1,715 on Tuesday, according to CME Group. Gold traded as high as $1,720.90 and as low as $1,683.50. Gold bullion closed in London at $1,719, according to BullionVault.
Silver futures for December delivery also gained, closing up at $32.03 per ounce. Tuesday’s high for silver was $32.28, while the low was $31.07.
Gold and silver funds moved higher in Tuesday trading.
- The SPDR Gold Trust (NYSE:) jumped 1.9%.
- The iShares Gold Trust (NYSE:) also climbed 1.9%.
- The iShares Silver Trust (NYSE:) surged 2.8%.
Gold and silver mining ETFs advanced during the day.
- The Market Vectors Gold Miners ETF (NYSE:) gained 1.9%.
- The Market Vectors Junior Gold Miners ETF (NYSE:) rose 2.1%.
- The Global X Silver Miners ETF (NYSE:) edged 0.5%.
Gold mining shares were moved higher on Tuesday, with Eldorado Gold (NYSE:
) rising the most.
- Agnico-Eagle Mines (NYSE:) rose 1.7%.
- Barrick Gold (NYSE:) climbed 1.4%.
- Eldorado Gold jumped 4.3%.
- Goldcorp (NYSE:) increased 1.7%.
- Kinross Gold (NYSE:) rose 1.5%
- Newmont Mining (NYSE:) edged up 0.2%.
- NovaGold Resources (NYSE:) gained 1.5%.
- Yamana Gold (NYSE:) advanced 3.4%.
Silver mining shares were mixed on Tuesday.
- Coeur d’Alene Mines (NYSE:) plunged 20.7%.
- Hecla Mining (NYSE:) dropped 6.5%.
- Pan American Silver (NASDAQ:) rose 1%.
- Silver Wheaton (NYSE:) gained 1.4%.
- Silver Standard Resources (NASDAQ:) climbed 3.2%.
As of this writing, Christopher Freeburn did not hold a position in any of the aforementioned securities. Adrian Ash of contributed to this report.
