U.S. President Barack Obama’s televised speech Tuesday night appeared to indefinitely delay any American military action against the regime of Syrian dictator Bashar al-Assad and left gold virtually unchanged in Wednesday trading.
Gold futures for December delivery dipped 20 cents to $1,363.80 per ounce on Wednesday, according to . Gold traded as high as $1,368.70 and as low as $1,356. Gold bullion closed in London at $1,365, according to BullionVault.
Silver futures for December delivery rose 0.7% to $23.17 per ounce. Wednesday’s high for silver was $23.25, while the low was $22.79.
Gold and silver funds were mostly flat in Wednesday trading.
- The SPDR Gold Shares () were flat.
- The iShares Gold Trust () was unchanged.
- The iShares Silver Trust () climbed 0.7%.
Gold and silver mining ETFs advanced during the day.
- The Market Vectors Gold Miners ETF () rose 1%.
- The Market Vectors Junior Gold Miners ETF () moved up 0.5%.
- The Global X Silver Miners ETF () added 0.8%.
Gold mining shares mostly gained on Wednesday.
- Agnico-Eagle Mines () dipped 0.1%.
- Barrick Gold () rose 1.1%.
- Eldorado Gold () was flat.
- Goldcorp () gained 2%.
- Kinross Gold () added 1.5%.
- Newmont Mining () increased 0.9%.
- NovaGold Resources () moved up 0.7%.
- Yamana Gold () climbed 1.2%.
Silver mining shares were mostly higher during the day.
- Coeur d’Alene Mines () slid 1.7%.
- Hecla Mining () rose 1.9%.
- Pan American Silver () added 1%.
- Silver Wheaton () climbed 2.3%.
- Silver Standard Resources () edged up 0.3%.
As of this writing, Christopher Freeburn did not hold a position in any of the aforementioned securities. Adrian Ash of contributed to this report.
