Gold and silver were flat Monday after a raucous end to last week — although news of the eurozone bailout seemed to breathe new life into precious metal markets on Friday, investors were relatively cautious today despite .
Spot gold finished down 0.1% at the end of Monday’s trading, with a final bid of $1,596.90 per ounce. The high touched $1,604.40, and the low hit $1,587.80, according to .
Spot silver showed marginal gains, with a final bid of $27.52. Monday’s high for silver prices reached $27.74, and the low was $27.25.
Gold bullion ended at $1,600 per ounce for Monday’s trading session in London — the same place where it ended Friday, according to .
“Gold still remains in the same range since early May,” at bullion bank Scotia Mocatta, who added that gold “would have to move above trendline resistance [at $1624] to reverse the bearish posture.”
Gold and silver trusts were flat Monday.
- The SPDR Gold Trust (NYSE:) showed marginal losses.
- The iShares Gold Trust (NYSE:) was flat.
- The iShares Silver Trust (NYSE:) rose about 0.3%.
Movement in gold and silver mining ETFs was marginal, too.
- The Market Vectors Gold Miners ETF (NYSE:) was flat.
- The Market Vectors Junior Gold Miners ETF (NYSE:) was about 0.2% lower.
- The Global X Silver Miners ETF (NYSE:) ticked up about 0.1%.
Gold mining shares were mixed Monday, including Agnico-Eagle Mines (NYSE:
), whose announcement that CFO had little impact on shares.
- Agnico-Eagle Mines climbed about 0.3%.
- Barrick Gold (NYSE:) was down about 0.3%.
- Eldorado Gold (NYSE:) jumped about 2.8% higher.
- Goldcorp (NYSE:) was down about 0.6%.
- Kinross Gold (NYSE:) climbed up around 2.9%.
- Newmont Mining (NYSE:) showed marginal losses.
- NovaGold Resources (AMEX:) was about 1.9% higher.
- Yamana Gold (NYSE:) was up 0.5%.
Silver mining shares also were mixed, with the exception of Pan American Silver (NASDAQ:), which slid heavily Monday.
- Coeur d’Alene Mines (NYSE:) was up down 1.2%.
- Hecla Mining (NYSE:) rose about 0.8%.
- Pan American Silver was about 3.9% lower.
- Silver Wheaton (NYSE:) moved 0.3% higher
- Silver Standard Resources (NASDAQ:) was up about 1.5%.
As of this writing, Angela Nazworth did not hold a position in any of the aforementioned securities. Adrian Ash of contributed to this report.
