Gold and silver showed little movement today as investors wait for Federal Reserve Board Chairman Ben Bernanke’s testimony before Congress this week.
Gold futures traded flat Monday at a final bid of $1,591.60 per ounce, according to . Gold reached a high of $1,594.60 and a low of $1,591.50.
Silver futures showed marginal losses Monday with a final bid of $27.30 per ounce. Monday’s high for silver prices reached $27.30, and the low was $26.96.
Gold bullion ended at $1,594 per ounce for Monday’s trading session in London, according to .
“Keep an eye on the Dollar and the stock market for clues as to the next direction (for gold),” Marex Spectron Precious Metals Manager at Brokers .
Gold and silver trusts climbed slightly Monday, with the exception of the iShares Gold Trust (NYSE:).
- The SPDR Gold Trust (NYSE:) was up about 0.1%.
- The iShares Gold Trust was flat.
- The iShares Silver Trust (NYSE:) climbed about 0.2%.
Gold- and silver-mining ETFs showed gains Monday with the SPDR Gold Trust (NYSE:) being the only exception to the rule.
- The Market Vectors Gold Miners ETF was down about 0.4%.
- The Market Vectors Junior Gold Miners ETF (NYSE:) climbed about 1.6%.
- The Global X Silver Miners ETF (NYSE:) was about 0.2% higher.
Some gold-mining shares fared better than others Monday with NovaGold Resources (NYSE:
) bringing in the highest gains and Agnico-Eagle Mines (NYSE:) reporting the largest losses for the group.
- Agnico-Eagle Mines lost about 1.5%.
- Barrick Gold (NYSE:) was up about 0.1%.
- Eldorado Gold (NYSE:) showed losses of around 0.9%.
- Goldcorp (NYSE:) was down about 0.6%.
- Kinross Gold (NYSE:) was about 1.0% lower.
- Newmont Mining (NYSE:) dipped about 1.4%.
- NovaGold Resources was up up about 2.5%.
- Yamana Gold (NYSE:) was up about 1.2%.
Silver-mining shares moved marginally Monday with the exceptions of Pan American Silver (NASDAQ:) and Silver Standard Resources (NASDAQ:), which showed greater losses and gains, respectively.
- Coeur d’Alene Mines (NYSE:) climbed 0.5%.
- Hecla Mining (NYSE:) dipped about 0.5%.
- Pan American Silver was around 1% lower.
- Silver Wheaton (NYSE:) climbed around 0.4%.
- Silver Standard Resources rose 2.7%.
As of this writing, Angela Nazworth did not hold a position in any of the aforementioned securities. Adrian Ash of contributed to this report.
