Gold, Silver, Miners Higher on Stronger Euro

Gold and silver were moving higher Friday morning as the euro strengthened
against the dollar. German Chancellor Angela Merkel and U.K. Prime Minister
David Cameron met and continued to agree to disagree about implementing a
financial transactions tax in the European Union, while the Conference Board
reported a greater-than-expected 0.9% rise in its Leading Economic Index for
October. Spot gold was around 0.25% higher at 10:15 a.m. Friday, while spot
silver was up about 1.36%. Spot gold was bid at $1,724.60 per ounce, with an ask
price of $1,725.60, up on the day so far but down around $20 per ounce during
the past 24 hours. The afternoon reference price fix was set at $1,719, and spot
gold traded as high as $1,731.40 and as low as $1,715 in New York, according to
Kitco market data . Spot silver was bid at $32.14 per ounce with an ask price of
$32.24. The morning high as of time of writing was $32.33, and the low was
$31.64. Mondays reference price was set at $32.25 in the London a.m. Gold and
silver trusts were moving higher to close out the week. The SPDR Gold Trust
(NYSE: GLD ) was around 0.9% higher. The iShares Gold Trust (NYSE: IAU ) was
between 0.8% and 0.9% higher. The iShares Silver Trust (NYSE: SLV ) was up
between 2.6% and 2.75%. Gold and silver mining ETFs were recovering ground and
moving higher as well. The Market Vectors Gold Miners ETF (NYSE: GDX ) was up
around 0.8%. The Market Vectors Junior Gold Miners ETF (NYSE: GDXJ ) was between
0.4% and 0.5% higher. The Global X Silver Miners ETF (NYSE: SIL ) was up nearly
1%. Shares of gold miners were showing strong gains, NovaGold Resources (AMEX:
NG ) in particular. Agnico-Eagle Mines (NYSE: AEM ) was more than 1.4% higher.
Barrick Gold Corp. (NYSE: ABX ) was nearly 1.6% higher. Goldcorp (NYSE: GG ) was
up 1.2%. Newmont Mining Corp. (NYSE: NEM ) was some 0.2% higher. NovaGold
Resources was sharply higher, up around 4.3% Silver miners shares were heading
higher. Coeur dAlene Mines Corp. (NYSE: CDE ) was around 1.7% higher. Hecla
Mining (NYSE: HL ) was up between 1.5% and 1.8%. Pan American Silver Corp.
(NASDAQ: PAAS ) was about 1.3% higher. Silver Wheaton Corp. (NYSE: SLW ) was
nearly 2% higher. Silver Standard Resources Inc. (NASDAQ: SSRI ) was up over 2%.
As of this writing, Andrew Burger did not own a position in any of the
aforementioned stocks.