Gold futures traded 0.8% higher Thursday, with a final bid of $1,616.50 per ounce, according to . Gold prices reached a high of $1,617.30 and a low of $1,601.50. Gold bullion finished up at $1,618 per ounce for Thursday’s trading session in London, according to .
“Gold’s performance reflects the continuing challenging economic climate,” . “A softness in India and China, who between them represent over 45% of the total second quarter jewelry and investment demand, accounts for much of the slowing of global gold demand.”
Silver futures were 1% higher Thursday, with a final bid of $28.21 per ounce. Thursday’s high for silver reached $28.24, and the low was $27.66.
Gold and silver funds showed gains Thursday.
- The SPDR Gold Trust (NYSE:) was up 0.6%.
- The iShares Gold Trust (NYSE:) was 0.6% higher.
- The iShares Silver Trust (NYSE:) rose 1.5%.
Gold and silver mining ETFs enjoyed even healthier gains.
- The ÃÛÌÒ´«Ã½ Vectors Gold Miners ETF (NYSE:) jumped 3.4%.
- The ÃÛÌÒ´«Ã½ Vectors Junior Gold Miners ETF (NYSE) finished 3.3% higher.
- The Global X Silver Miners ETF (NYSE:) rose 3.2%.
Gold mining shares soared Thursday, with NovaGold Resources (AMEX:) leading the way.
- Agnico-Eagle Mines (NYSE:) was up 4.4%.
- Barrick Gold (NYSE:) finished 4% higher.
- Eldorado Gold (NYSE:) rose 4.6%.
- Goldcorp (NYSE:) climbed 4.8%.
- Kinross Gold (NYSE:) was 3% higher.
- Newmont Mining (NYSE:) finished 2.1% higher.
- NovaGold Resources jumped 5.8%.
- Yamana Gold (NYSE:) finished up 3%.
Most silver mining shares also made strong moves north, with Pan American Silver (NASDAQ:) surging.
- Coeur d’Alene Mines (NYSE:) rose 5.1%.
- Hecla Mining (NYSE:) climbed 6.3%.
- Pan American Silver soared 6.7%.
- Silver Wheaton (NYSE:) finished 2.9% higher.
- Silver Standard Resources (NASDAQ:) climbed 2.6%.
As of this writing, Angela Nazworth did not hold a position in any of the aforementioned securities. Adrian Ash of contributed to this report.
