Fading prospects of a U.S. military strike on Syria weakened gold’s safe-haven appeal, sending the metal lower in Friday trading. Still, gold closed out the month with a 6.3% gain.
Gold futures for December delivery dropped 1.2% to $1,396.10 per ounce on Friday, according to . Gold traded as high as $1,411.50 and as low as $1,391.80. Gold bullion closed in London at $1,398, according to BullionVault.
Silver futures for December delivery slid 2.6% to $23.51 per ounce. Friday’s high for silver was $24.07, while the low was $23.41.
Gold and silver funds sank in Friday trading.
- The SPDR Gold Shares () fell 0.9%.
- The iShares Gold Trust () slipped 1%.
- The iShares Silver Trust () dropped 1.7%.
Gold and silver mining ETFs moved lower during the day.
- The Market Vectors Gold Miners ETF () declined 1.5%.
- The Market Vectors Junior Gold Miners ETF () slid 1.9%.
- The Global X Silver Miners ETF () slumped 1.5%.
Gold mining shares declined on Friday.
- Agnico-Eagle Mines () fell 1.4%.
- Barrick Gold () sank 2.7%.
- Eldorado Gold () slipped 1%.
- Goldcorp () decreased 1.4%.
- Kinross Gold () dipped 0.2%.
- Newmont Mining () also slid 0.2%.
- NovaGold Resources () moved down 0.4%.
- Yamana Gold () pulled back 1.1%.
Silver mining shares retreated during the day.
- Coeur d’Alene Mines () dipped 1.3%.
- Hecla Mining () sank 1.7%.
- Pan American Silver () fell 1.4%.
- Silver Wheaton () declined 1.1%.
- Silver Standard Resources () tumbled 3%.
As of this writing, Christopher Freeburn did not hold a position in any of the aforementioned securities. Adrian Ash of contributed to this report.
