Gold climbed fractionally in Tuesday trading after the U.S. dollar slipped in the wake of a negative economic report.
The Conference Board’s consumer confidence index dropped to a reading of 70.4 in November, down from a reading of 72.4 in October. That marked the index’s lowest reading since April, disappointing economists who had predicted a slight gain. The report sent the dollar lower against other currencies.
Gold futures for December delivery rose 20 cents to $1,241.40 per ounce on Tuesday, according to . Gold traded as high as $1,257.80 and as low as $1,239.20. Bullion closed in London at $1,245, according to .
Silver futures for December fell 0.2% to $19.85 per ounce. Tuesday’s high for silver was $20.29, while the low was $19.81.
Metal funds dipped on Tuesday.
- The SPDR Gold Shares () slid 0.6%.
- The iShares Gold Trust () sank 0.6%.
- The iShares Silver Trust () fell 0.8%.
Mining ETFs declined during the day.
- The Market Vectors Gold Miners ETF () dropped 2.4%.
- The Market Vectors Junior Gold Miners ETF () fell 2%.
- The Global X Silver Miners ETF () moved down 2.3%.
Gold stocks mostly retreated on Tuesday.
- Agnico-Eagle Mines () dipped 0.4%.
- Barrick Gold () fell 1%.
- Eldorado Gold () dropped 4%.
- Goldcorp () sank 2.5%.
- Kinross Gold () declined 1.5%.
- Newmont Mining () slid 3.1%.
- NovaGold Resources () climbed 1.4%.
- Yamana Gold () slipped 1.5%.
Silver mining shares pulled back during the day.
- Coeur d’Alene Mines () dropped 2.4%.
- Hecla Mining () tumbled 4%.
- Pan American Silver () fell 3.1%.
- Silver Wheaton () dipped 0.1%.
- Silver Standard Resources () sank 2.5%.
As of this writing, Christopher Freeburn did not hold a position in any of the aforementioned securities. Adrian Ash of contributed to this report.
