Gold futures about traded 0.5% lower Wednesday, with a final bid of $1,604.20 per ounce, according to . Gold prices reached a high of $1,618 and a low of $1,594.70. Gold bullion finished lower at $1,605 per ounce for Wednesday’s trading session in London, according to .
“Investors (are) continuing to favor the U.S. Dollar over bullion as the key safe-haven trade,” . “However we see this changing in the next six months as heightened negative sentiment surrounding Europe eases and the US Dollar loses some ground to a cheap Euro.”
Silver futures traded 1.4% lower Wednesday, with a final bid of $27.53 per ounce. Wednesday’s high for silver reached $28.02, and the low was $27.06.
Gold and silver trusts finished down Wednesday.
- The SPDR Gold Trust (NYSE:) finished down 0.9%.
- The iShares Gold Trust (NYSE:) was 0.9% lower.
- The iShares Silver Trust (NYSE:) stumbled 2.1%.
Gold and silver mining ETFs showed broad losses.
- The 蜜桃传媒 Vectors Gold Miners ETF (NYSE:) fell 1.2%.
- The 蜜桃传媒 Vectors Junior Gold Miners ETF (NYSE) finished 0.7% lower.
- The Global X Silver Miners ETF (NYSE:) was 1.2% lower.
Gold mining shares showed varying losses Wednesday, with Kinross Gold (NYSE:) taking the worst of it.
- Agnico-Eagle Mines (NYSE:) was up 0.6%.
- Barrick Gold (NYSE:) finished 1.2% lower.
- Eldorado Gold (NYSE:) dipped 1.5%.
- Goldcorp (NYSE:) finished 1.4% lower.
- Kinross Gold dove 4.5%.
- Newmont Mining (NYSE:) lost 0.1%.
- NovaGold Resources (AMEX:) gained 0.5%.
- Yamana Gold (NYSE:) finished down 0.6%.
Silver mining shares finished broadly lower Wednesday, with Silver Standard Resources (NASDAQ:) falling hard.
- Coeur d’Alene Mines (NYSE:) was down 2.9%.
- Hecla Mining (NYSE:) finished 2.2% lower.
- Pan American Silver (NASDAQ:) was 1.2% lower.
- Silver Wheaton (NYSE:) dropped 1.3%.
- Silver Standard Resources fell 4.5%.
As of this writing, Angela Nazworth did not hold a position in any of the aforementioned securities. Adrian Ash of contributed to this report.
