Gold futures about traded 0.2% higher Wednesday, with a final bid of $1,613.10 per ounce, according to . Gold prices reached a high of $1,616.60 and a low of $1,603.10. Gold bullion finished at $1,615 per ounce for Wednesday’s trading session in London, according to .
“There is a lack of momentum in the market,” a . “Prices are unlikely to break above $1,620 but falling below $1,570 is also difficult. Many traders are more interested in watching the Olympics than trading.”
Silver futures were flat Wednesday, with a final bid of $28.08 per ounce. Wednesday’s high for silver reached $28.21, and the low was $27.66.
Gold and silver trusts had varying results Wednesday.
- The SPDR Gold Trust (NYSE:) was up 0.1%.
- The iShares Gold Trust (NYSE:) was 0.1% higher.
- The iShares Silver Trust (NYSE:) lost 0.2%.
Gold and silver mining ETFs also showed mixed results.
- The Market Vectors Gold Miners ETF (NYSE:) dipped 0.1%.
- The Market Vectors Junior Gold Miners ETF (NYSE) finished 0.7% lower.
- The Global X Silver Miners ETF (NYSE:) climbed 0.5%.
Some gold mining shares fared better than others Wednesday. For example, NovaGold Resources (AMEX:) showed healthy gains, while Eldorado Gold (NYSE:
) dropped more than 2%.
- Agnico-Eagle Mines (NYSE:) was down 0.2%.
- Barrick Gold (NYSE:) finished 0.7% lower.
- Eldorado Gold dropped 2.5%.
- Goldcorp (NYSE:) fell 0.7%.
- Kinross Gold (NYSE:) was 0.1% lower.
- Newmont Mining (NYSE:) finished 0.6% higher.
- NovaGold Resources gained 3.1%.
- Yamana Gold (NYSE:) finished down 0.3%.
Silver mining shares were all over the place, with Silver Wheaton (NYSE:) racking up big gains amid news that it raised its.
- Coeur d’Alene Mines (NYSE:) climbed 2%.
- Hecla Mining (NYSE:) dipped 0.2%.
- Pan American Silver (NASDAQ:) was 0.5% higher.
- Silver Wheaton (NYSE:) rose 4.4%.
- Silver Standard Resources (NASDAQ:) slipped 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.
