Gold extended yesterday’s gains, rising slightly in Friday trading. Gold benefitted from a selloff in major equities markets in Europe and the U.S., which deepened during the day. The metal ended the week with a gain of 1%.
Gold futures for February delivery inched up 0.2% to $1,264.30 per ounce on Friday, according to . Gold traded as high as $1,273.20 and as low as $1,256.80. Bullion closed in London at $1,270, according to .
Silver futures for March delivery sank 1.2%, to $19.77 per ounce. Friday’s high for silver was $20.99, while the low was $19.72.
Metal funds were mixed on Friday.
- The SPDR Gold Shares () added 0.4%.
- The iShares Gold Trust () rose 0.5%.
- The iShares Silver Trust () fell 0.4
Mining ETFs declined during the day.
- The Market Vectors Gold Miners ETF () dipped 0.2%.
- The Market Vectors Junior Gold Miners ETF () dropped 2.3%.
- The Global X Silver Miners ETF () slid 1.4%.
Gold stocks mostly retreated on Friday.
- Agnico-Eagle Mines () rose 1%.
- Barrick Gold () fell 1.5%.
- Eldorado Gold () was flat.
- Goldcorp () inched up 0.1%.
- Kinross Gold () slid 1.7%.
- Newmont Mining () sank 1.1%.
- NovaGold Resources () moved down 1%.
- Yamana Gold () faded 0.8%.
Silver mining shares pulled back during the day.
- Coeur d’Alene Mines () slid 2.1%.
- Hecla Mining () dropped 2.7%.
- Pan American Silver () sank 1.8%.
- Silver Wheaton () fell 2.1%.
- Silver Standard Resources () tumbled 3.2%.
As of this writing, Christopher Freeburn did not hold a position in any of the aforementioned securities. Adrian Ash of contributed to this report.
