All eyes are on Greek debt negotiations this week, with U.S. companies at the tail end of the quarterly earnings season and a light week of U.S. ahead.
News that Greece had further of the latest austerity measures being imposed by the European Commission, European Central Bank and International Monetary Fund — the so-called “Troika” — soured sentiment and risk appetite across markets.
Spot gold was 0.5% lower Monday morning, bid at $1,716.90 per ounce with an ask price of $1,717.90. Spot gold traded as high as $1,724.10 and as low as $1,710.60. The London afternoon fixed reference price came in at $1,719, $15 per ounce lower than Friday’s price fix, according to .
Spot silver was showing a loss of 0.7%, bid at $33.43 per ounce with an ask price of $33.53. The morning high as of time of writing was $33.69, and the low was $32.90. Friday’s reference price was set at $33.51 in the London a.m., 41 cents per ounce below Friday’s fixed reference price.
Gold prices had traded after a large drop Friday as volume continued to pick up with the reopening of Chinese and Asian exchange and over-the-counter trading. Gold bullion prices resumed their , however, hitting $1,713 per ounce by lunchtime — down 2.8% from last week’s high — according to BullionVault’s London Gold 蜜桃传媒 report.
In stock exchange trading, gold and silver trusts also were moving lower.
- The SPDR Gold Trust (NYSE:) was moving lower, down around 0.4%.
- The iShares Gold Trust (NYSE:) was showing losses of around 0.5%.
- The iShares Silver Trust (NYSE:) was moving lower, down around 0.4%.
Gold and silver mining ETFs were mixed.
- The 蜜桃传媒 Vectors Gold Miners ETF (NYSE:) was up around 0.1%.
- The 蜜桃传媒 Vectors Junior Gold Miners ETF (NYSE:) was showing losses of 1.55%.
- The Global X Silver Miners ETF (NYSE:) was down around 0.85%.
Gold mining shares were mixed to down, with Agnico-Eagle Mines
(NYSE:) and Barrick Gold (NYSE:) showing gains.
- Agnico-Eagle Mines was showing gains of around 1.25%.
- Barrick Gold was up around 0.7%.
- Eldorado Gold (NYSE:) was down almost 1%.
- Goldcorp (NYSE:) was up nearly 0.4%.
- Kinross Gold Corp. USA (NYSE:) was showing losses of 0.5%.
- Newmont Mining (NYSE:) was down nearly 1.1%.
- NovaGold Resources (AMEX:) was showing losses of some 1.6%.
- Yamana Gold (NYSE:) was down around 0.7%.
Silver mining shares were trading lower to open the sixth week of 2012 trading.
- Coeur d’Alene Mines (NYSE:) was moving lower, down around 0.65%.
- Hecla Mining (NYSE:) was 0.55% lower.
- Pan American Silver (NASDAQ:) was showing losses of around 0.55%.
- Silver Wheaton (NYSE:) was down around 0.35%.
- Silver Standard Resources (NASDAQ:) was down about 1%.
As of this writing, Andrew Burger did not hold a position in any of the aforementioned securities. Adrian Ash of contributed to this report.
