After seven straight session losses, Gold reversed course on Monday posting a strong gain. The precious metal’s fortunes improved as equities slipped and the U.S. dollar declined against other currencies.
Gold futures for June delivery jumped 1.4% to $1,384.10 per ounce on Monday, according to . Gold traded as high as $1,397.90 and as low as $1,336.30. Gold bullion closed in London at $1,400, according to BullionVault.
Silver futures for June delivery gained 1% to $22.57 per ounce. Monday’s high for silver was $23.09 while the low was $20.24.
Gold and silver funds advanced in Monday trading.
- The SPDR Gold Trust () rose 3.1%.
- The iShares Gold Trust () added 3%.
- The iShares Silver Trust () improved 4%.
Gold and silver mining ETFs gained strongly during the day.
- The Market Vectors Gold Miners ETF () surged 6.3%.
- The Market Vectors Junior Gold Miners ETF () soared 7.7%.
- The Global X Silver Miners ETF () moved up 4.9%.
Gold mining shares shot up on Monday.
- Agnico-Eagle Mines () climbed 6.5%.
- Barrick Gold () jumped 7.3%.
- Eldorado Gold () soared 9.8%.
- Goldcorp () advanced 5.7%.
- Kinross Gold () increased 7.8%.
- Newmont Mining () improved 5.4%.
- NovaGold Resources () added 4.7%.
- Yamana Gold () rose 7.1%.
Silver mining shares advanced during the day.
- Coeur d’Alene Mines () added 7.5%.
- Hecla Mining () rose 6.3%.
- Pan American Silver () gained 10.2%.
- Silver Wheaton () rose 6.5%.
- Silver Standard Resources () jumped 10%.
As of this writing, Christopher Freeburn did not hold a position in any of the aforementioned securities. Adrian Ash of contributed to this report.
