Gold futures declined for the third consecutive session in the face of continued strength for the U.S. dollar and after a report showed that U.S. retail sales rose more than forecast in April.
Shares of Silver Wheaton (NYSE:) fell 3.6% after the company reported a 9% decline in first-quarter earnings, compared to the same time last year.
Gold futures for June delivery dipped 0.2% to $1,434.30 per ounce on Monday, according to . Gold traded as high as $1,448.30 and as low as $1,424.70. Gold bullion closed in London at $1,434, according to BullionVault.
Silver futures for June delivery also fell 0.2% to $23.68 per ounce. Monday’s high for silver was $23.77 while the low was $23.50.
Gold and silver funds declined in Monday trading.
- The SPDR Gold Trust (NYSE:) slid 0.9%.
- The iShares Gold Trust (NYSE:) also fell 0.9%.
- The iShares Silver Trust (NYSE:) sank 0.7%.
Gold and silver mining ETFs pulled back during the day.
- The Market Vectors Gold Miners ETF (NYSE:) dropped 2.6%.
- The Market Vectors Junior Gold Miners ETF (NYSE:) moved down 2.2%.
- The Global X Silver Miners ETF (NYSE:) slumped 2.6%.
Gold mining shares retreated on Monday.
- Agnico-Eagle Mines (NYSE:) fell 2.5%.
- Barrick Gold (NYSE:) slid 2.8%.
- Eldorado Gold (NYSE:) dropped 3%.
- Goldcorp (NYSE:) dipped 1.9%.
- Kinross Gold (NYSE:) declined 2.7%.
- Newmont Mining (NYSE:) fell 1.5%.
- NovaGold Resources (AMEX:) sank 4%.
- Yamana Gold (NYSE:) slumped 3.1%.
Silver mining shares also moved lower.
- Coeur d’Alene Mines (NYSE:) dropped 2.6%.
- Hecla Mining (NYSE:) slipped 1.6%.
- Pan American Silver (NASDAQ:) fell 2.9%.
- Silver Wheaton sank 3.6%.
- Silver Standard Resources (NASDAQ:) moved down 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.
