A weaker-than-expected report on U.S. hiring in May sent the U.S. dollar down and equities tumbling in Wednesday trading. Despite the news, gold managed to eek out just a small gain as worries over the Federal Reserve’s commitment to economic stimulus continued to gain traction with investors.
Gold futures for July delivery edged up 0.1% to $1,398.40 per ounce on Wednesday, according to . Gold traded as high as $1,410.20 and as low as $1,395.10. Gold bullion closed in London at $1,405, according to BullionVault.
Gold and silver funds were mostly higher in Wednesday trading.
- The SPDR Gold Trust () increased 0.2%.
- The iShares Gold Trust () also rose 0.2%.
- The iShares Silver Trust () dipped 0.1%.
Gold and silver mining ETFs mostly slipped during the day.
- The Market Vectors Gold Miners ETF () inched up 0.2%.
- The Market Vectors Junior Gold Miners ETF () fell 0.5%.
- The Global X Silver Miners ETF () dropped 1.6%.
Gold mining shares advanced modestly on Wednesday.
- Agnico-Eagle Mines () gained 1.4%.
- Barrick Gold () added 0.6%.
- Eldorado Gold () increased 0.6%.
- Goldcorp () dipped 0.1%.
- Kinross Gold () climbed 0.9%.
- Newmont Mining () improved 0.4%.
- NovaGold Resources () rose 1%.
- Yamana Gold () was flat.
Silver mining shares were mixed during the day.
- Coeur d’Alene Mines () slipped 0.2%.
- Hecla Mining () was unchanged.
- Pan American Silver () increased 0.6%.
- Silver Wheaton () was flat.
- Silver Standard Resources () dipped 0.1%.
As of this writing, Christopher Freeburn did not hold a position in any of the aforementioned securities. Adrian Ash of contributed to this report.
