Continued uncertainty over exactly when the Federal Reserve will begin reducing its monthly bond-buying helped gold trading waver Tuesday, and the metal settled lower for a third straight session.
Gold futures for December delivery fell 0.8% to $1,316.30 per ounce on Tuesday, according to . Gold traded as high as $1,329.40 and as low as $1,305.50. Gold bullion closed in London at $1,324, according to BullionVault.
Silver futures for December delivery dropped 1.2% to $21.59 per ounce. Tuesday’s high for silver was $22.04, while the low was $21.33.
Gold and silver funds edged higher in Tuesday trading.
- The SPDR Gold Shares () added 0.1%.
- The iShares Gold Trust () gained 0.2%.
- The iShares Silver Trust () moved higher 0.5%.
Gold and silver mining ETFs mostly fell during the day.
- The Market Vectors Gold Miners ETF () rose 0.1%.
- The Market Vectors Junior Gold Miners ETF () slid 0.3%.
- The Global X Silver Miners ETF () sank 1%.
Gold mining shares were mixed on Tuesday.
- Agnico-Eagle Mines () slipped 0.1%.
- Barrick Gold () climbed 1.1%.
- Eldorado Gold () fell 0.7%.
- Goldcorp () added 0.4%.
- Kinross Gold () sank 2.5%.
- Newmont Mining () rose 0.4%.
- NovaGold Resources () dropped 1.8%.
- Yamana Gold () dipped 0.1%.
Silver mining shares sank during the day.
- Coeur d’Alene Mines () fell 3%.
- Hecla Mining () moved down 0.6%.
- Pan American Silver () declined 0.7%.
- Silver Wheaton () retreated 0.4%.
- Silver Standard Resources () slid 0.5%.
As of this writing, Christopher Freeburn did not hold a position in any of the aforementioned securities. Adrian Ash of contributed to this report.
