Gold edged fractionally higher in Tuesday trading as U.S. equities markets hit record highs, dimming the metal’s appeal as a safe haven.
Gold futures for April delivery climbed 0.2% to $1574.90 per ounce on Tuesday, according to CME Group. Gold traded as high as $1,585.80 and as low as $1,571.10. Gold bullion closed in London at $1,578, according to BullionVault.
Silver futures for April delivery rose 0.4% to $28.58 per ounce. Tuesday’s high for silver was $29.05, while the low was $28.50.
Gold and silver funds mostly gained in Tuesday trading.
- The SPDR Gold Trust (NYSE:) rose 0.1%.
- The iShares Gold Trust (NYSE:) also gained 0.1%.
- The iShares Silver Trust (NYSE:) climbed 0.5%.
Gold and silver mining ETFs dropped during the day.
- The Market Vectors Gold Miners ETF (NYSE:) rose 0.1%
- The Market Vectors Junior Gold Miners ETF (NYSE:) gained 1%.
- The Global X Silver Miners ETF (NYSE:) dipped 0.1%.
Gold mining shares mostly retreated on Tuesday.
- Agnico-Eagle Mines (NYSE:) fell 1.6%.
- Barrick Gold (NYSE:) slid 0.5%.
- Eldorado Gold (NYSE:) declined 0.3%.
- Goldcorp (NYSE:) was flat.
- Kinross Gold (NYSE:) rose 0.1%.
- Newmont Mining (NYSE:) dropped 1%.
- NovaGold Resources (AMEX:) climbed 0.8%.
- Yamana Gold (NYSE:) sank 0.6%.
Silver mining shares moved lower.
- Coeur d’Alene Mines (NYSE:) climbed 0.7%.
- Hecla Mining (NYSE:) slid 1.5%.
- Pan American Silver (NASDAQ:) fell 0.6%.
- Silver Wheaton (NYSE:) dipped 0.1%.
- Silver Standard Resources (NASDAQ:) sank 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.
