Gold and silver prices dipped Tuesday amid news of progress on Spain’s latest bank recapitalization efforts, while miners strongly followed the equity markets south.
Gold futures dipped 0.58% during Tuesday’s trading, with a final bid of $1,579.80 per ounce, according to . Gold reached a high of $1,602 and a low of $1,573.
Silver futures finished the day down 2% with a final bid of $26.85. Tuesday’s high for silver prices reached $27.51, and the low was $26.75.
Gold bullion ended at $1,572 per ounce for Tuesday’s trading session in London, according to .
Gold and silver trusts experienced moderate losses Tuesday.
- The SPDR Gold Trust (NYSE:) ticked down about 1.2%.
- The iShares Gold Trust (NYSE:) was about 1.3% lower.
- The iShares Silver Trust (NYSE:) dipped about 1.7%.
Movement in gold and silver mining ETFs was strongly negative, especially among gold miners.
- The Market Vectors Gold Miners ETF (NYSE:) fell around 3.1%.
- The Market Vectors Junior Gold Miners ETF (NYSE:) sharply fell about 4%.
- The Global X Silver Miners ETF (NYSE:) was about 1.7% lower.
Gold mining shares showed significant losses across the board Tuesday.
- Agnico-Eagle Mines (NYSE:) dropped about 4.1%.
- Barrick Gold (NYSE:) was down about 2.7%.
- Eldorado Gold (NYSE:) showed losses of around 5.5%.
- Goldcorp (NYSE:) was down 2.3%.
- Kinross Gold (NYSE:) plummeted 4.8%.
- Newmont Mining (NYSE:) showed losses of 2.7%.
- NovaGold Resources (AMEX:) was down 3.7%.
- Yamana Gold (NYSE:) was about 2.3% lower.
Most silver mining shares also slid heavily Thursday.
- Coeur d’Alene Mines (NYSE:) slid about 5.2%.
- Hecla Mining (NYSE:) dropped about 5.5%.
- Pan American Silver (NASDAQ:) showed sharp losses of around 3.5%.
- Silver Wheaton (NYSE:) dipped around 4.4%.
- Silver Standard Resources (NASDAQ:) was down about 6.3%.
As of this writing, Angela Nazworth did not hold a position in any of the aforementioned securities. Adrian Ash of contributed to this report.
