Gold and silver futures trading looked hopeful earlier Tuesday, but slipped after Federal Chairman Ben Bernanke gave his weekly economic address.
Gold futures traded 0.1% lower Tuesday with a final bid of $1,589.50 per ounce, according to . Gold reached a high of $1,598.80 and a low of $1,571. Gold bullion ended at $1,587 per ounce for Tuesday’s trading session in London, according to .
“Investor interest in gold is far from overwhelming despite ongoing macro uncertainty,” VTB Capital analyst .
Silver futures were flat with a final bid of $27.29 per ounce. Tuesday’s high for silver prices reached $27.53, and the low was $26.82.
Gold and silver trusts dipped slightly Tuesday.
- The SPDR Gold Trust (NYSE:) was down about 0.5%.
- The iShares Gold Trust (NYSE:) was about 0.4% lower.
- The iShares Silver Trust (NYSE:) drooped about 0.1%.
Gold and silver mining ETFs showed varying losses Tuesday.
- The Market Vectors Gold Miners ETF (NYSE:) was down about 1.1%.
- The Market Vectors Junior Gold Miners ETF (NYSE:) dipped about 0.8%.
- The Global X Silver Miners ETF (NYSE:) was about 0.2% lower.
Gold mining showed losses almost across the board Tuesday, with Kinross Gold (NYSE:) leading the way. NovaGold Resources
(AMEX:) went its own way, recording strong gains in Tuesday’s trading.
- Agnico-Eagle Mines (NYSE:) lost about 0.7%.
- Barrick Gold (NYSE:) was up about 0.8%.
- Eldorado Gold (NYSE:) showed losses of around 3.2%.
- Goldcorp (NYSE:) was down about 0.3%.
- Kinross Gold was about 3.7% lower.
- Newmont Mining (NYSE:) dipped about 0.9%.
- NovaGold Resources was up about 1.6%.
- Yamana Gold (NYSE:) was down about 1.5%.
Silver mining shares were slightly lower Tuesday, with the exception of Silver Standard Resources (NASDAQ:), which notched small gains.
- Coeur d’Alene Mines (NYSE:) slipped nearly 2%.
- Hecla Mining (NYSE:) climbed about 0.7%.
- Pan American Silver (NASDAQ:) was around 1.3% lower.
- Silver Wheaton (NYSE:) was flat.
- Silver Standard Resources rose about 0.1%.
As of this writing, Angela Nazworth did not hold a position in any of the aforementioned securities. Adrian Ash of contributed to this report.
