Gold and silver continued to move lower Friday despite ongoing weakness in the
U.S. economy and persisting sovereign debt problems in the European Union. The
U.S. dollar and Treasuries have become the preferred safe havens for traders
after the Feds announcement of Operation Twist. Spot gold breached the
$1,700-per-ounce level and kept plummeting. It was trading at $1,647 Bid, $1,648
Ask on Friday afternoon, hitting a high of $1,697.90 and a low of $1,628.60. The
London p.m. gold fix was set at $1,689 by the LBMA . Spot silver was bid at
$30.63 with an ask price of $30.73, hitting a mid-afternoon high of $33.44 and a
low of $29.76. The reference price for spot delivery of an ounce of silver was
set at $32.90 by the LBMA in the London a.m. Gold and silver trusts continued
their steep slide Friday. The SPDR Gold Trust (NYSE: GLD ) was around 5.1%
lower. The iShares Gold Trust (NYSE: IAU ) was down around 5.2%. The iShares
Silver Trust (NYSE: SLV ) was around 14.2% lower. Gold and silver miners ETFs
continued to fall sharply. The Market Vectors Gold Miners ETF (NYSE: GDX ) was
more than 5.7% lower. The Market Vector Junior Gold Miners ETF (NYSE: GDXJ ) was
down 7.2%. The Global X Silver Miners ETF (NYSE: SIL ) was off more than 7%.
Shares of gold miners continued their downward slide. Agnico Eagle Mines (USA)
(NYSE: AEM ) was around 6.6% lower. Barrick Gold Corp. (NYSE: ABX ) was showing
losses of around 4.7%. Goldcorp (NYSE: GG ) was down around 4.5%. Newmont Mining
Corp. (NYSE: NEM ) was down some 4.6%. NovaGold Resources (USA) (AMEX: NG ) was
off nearly 6%. Silver miners shares were hammered as well. Coeur DAlene Mines
Corp. (NYSE: CDE ) was around 6.2% lower. Hecla Mining (NYSE: HL ) was down
around 6%. Pan American Silver Corp. (USA) (NASDAQ: PAAS ) was 5.2% lower.
Silver Wheaton Corp. (USA) (NYSE: SLW ) was showing losses of around 9.6%.
Silver Standard Resources Inc. (USA) (NASDAQ: SSRI ) was down more than 7.6%.
The author does not hold positions in any of the above-mentioned investments.
Gold, Mining, silver, index, prices, today, oil, crude, dow jones, nasdaq, s&p 500, TSX, barrick gold, toromocho, CUP, goog, msft, aapl, finance, yahoo, bing, google,currency converter, currency, rates, currency tool, currency trading, currency transfers, foreign exchange, conversion, , live currency rates, mid-market, obsolete, precious metals, rate calculations, save money, save time, special units, tips, trade currency, up to the minute, world currency, xe trade, currency symbols
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment