Gold rose strongly in Monday trading ahead of tomorrow’s testimony by new Federal Reserve Chairwoman Janet Yellen before the U.S. House Financial Services Committee. The metal climbed for a fourth consecutive session, hitting its highest close since mid-November.
Gold futures for April delivery rose 0.9% to $1,274.70 per ounce on Monday, according to . Gold traded as high as $1,277.80 and as low as $1,264.70. Bullion closed in London at $1,275, according to .
Silver futures for March delivery gained 0.9% to $20.11 per ounce. Monday’s high for silver was $20.28, while the low was $19.96.
Metal funds improved on Monday.
- The SPDR Gold Shares () rose 0.6%.
- The iShares Gold Trust () added 0.5%.
- The iShares Silver Trust () inched up 0.1%.
Mining ETFs advanced during the day.
- The Market Vectors Gold Miners ETF () climbed 3.3%.
- The Market Vectors Junior Gold Miners ETF () surged 4.3%.
- The Global X Silver Miners ETF () gained 4.2%.
Gold stocks sprinted higher on Monday.
- Agnico-Eagle Mines () jumped 5.1%.
- Barrick Gold () rose 2.1%.
- Eldorado Gold () surged 5.6%.
- Goldcorp () added 2%.
- Kinross Gold () vaulted 5.8%.
- Newmont Mining () moved up 3.1%.
- NovaGold Resources () advanced 3.6%.
- Yamana Gold () soared 6.3%.
Silver mining shares climbed during the day.
- Coeur d’Alene Mines () gained 4.6%.
- Hecla Mining () added 1.6%.
- Pan American Silver () rose 1%.
- Silver Wheaton () advanced 3.4%.
- Silver Standard Resources () increased 2.4%.
As of this writing, Christopher Freeburn did not hold a position in any of the aforementioned securities. Adrian Ash of contributed to this report.
