Gold posted a modest rise in Wednesday trading, marking the sixth straight positive session for the precious metal. Gold improved a day after Federal Reserve Chair Janet Yellen told Congress that she would continue the loose monetary policy of her predecessor. Gold closed near $1,300 an ounce, a level not seen since early November.
Gold futures for April delivery jumped 0.4% to $1,295 per ounce on Wednesday, according to . Gold traded as high as $1,296.40 and as low as $1,283.90. Bullion closed in London at $1,291, according to .
Silver futures for March delivery climbed 0.9% to $20.34 per ounce. Wednesday’s high for silver was $20.39, while the low was $20.08.
Metal funds were mixed on Wednesday.
- The SPDR Gold Shares () inched up 0.1%.
- The iShares Gold Trust () also rose 0.1%.
- The iShares Silver Trust () slipped 0.1%.
Mining ETFs sank during the day.
- The Market Vectors Gold Miners ETF () fell 3.4%.
- The Market Vectors Junior Gold Miners ETF () dropped 4.4%.
- The Global X Silver Miners ETF () slid 2.6%.
Gold stocks declined on Wednesday.
- Agnico-Eagle Mines () fell 3.5%.
- Barrick Gold () slipped 3.1%.
- Eldorado Gold () fell back 3.4%.
- Goldcorp () sank 2.7%.
- Kinross Gold () tumbled 4.1%.
- Newmont Mining () moved down 1.7%.
- NovaGold Resources () decreased 3.7%.
- Yamana Gold () slid 3%.
Silver mining shares pulled back during the day.
- Coeur d’Alene Mines () tumbled 5%.
- Hecla Mining () sank 2.7%.
- Pan American Silver () fell 3.3%.
- Silver Wheaton () slid 2.3%.
- Silver Standard Resources () faded 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.
