Gold snapped a three-day streak of gains on Tuesday, falling modestly after U.S. House of Representatives Speaker John Boehner expressed hope that the U.S. fiscal cliff could be averted with a budget deal.
Gold futures for December delivery dipped $1709.20 on Tuesday, according to CME Group. Gold traded as high as $1,714.10 and as low as $1,705.90. Gold bullion closed in London at $1,713, according to BullionVault.
Silver futures for December delivery fell to $32.89 per ounce. Tuesday’s high for silver was $33.19, while the low was $32.78.
Gold and silver funds declined in Tuesday trading.
- The SPDR Gold Trust (NYSE:) dipped 0.1%.
- The iShares Gold Trust (NYSE:) also slipped 0.1%.
- The iShares Silver Trust (NYSE:) dropped 0.7%.
Gold and silver mining ETFs rose during the day.
- The Market Vectors Gold Miners ETF (NYSE:) fell 0.5%.
- The Market Vectors Junior Gold Miners ETF (NYSE:) edged up 0.1%.
- The Global X Silver Miners ETF (NYSE:) gained 0.4%.
Gold mining shares were mixed, with NovaGold Resources (NYSE:
) falling the most.
- Agnico-Eagle Mines (NYSE:) slid 1.1%.
- Barrick Gold (NYSE:) moved down 0.5%.
- Eldorado Gold (NYSE:) sank 0.8%.
- Goldcorp (NYSE:) dropped 1.1%.
- Kinross Gold (NYSE:) increased 0.8%.
- Newmont Mining (NYSE:) gained 0.3%.
- NovaGold Resources sank 1.9%.
- Yamana Gold (NYSE:) dipped 1.1%.
Silver mining shares moved higher on Tuesday.
- Coeur d’Alene Mines (NYSE:) rose 2.1%.
- Hecla Mining (NYSE:) climbed 0.5%.
- Pan American Silver (NASDAQ:) edged up 0.2%.
- Silver Wheaton (NYSE:) gained 0.5%.
- Silver Standard Resources (NASDAQ:) increased 1.5%.
As of this writing, Christopher Freeburn did not hold a position in any of the aforementioned securities. Adrian Ash of contributed to this report.
