Gold futures declined slightly Friday after growing concerns over a cooling global economy offset better-than-expected news about U.S. GDP growth, marking the metal’s first three-week loss in more than a year.
Gold futures for December delivery slipped to $1,711.90 on Friday, according to CME Group. Gold traded as high as $1,719.90 and as low as $1,701.40. Gold bullion closed in London at $1,715, according to BullionVault.
Silver futures for December delivery also dipped, closing down at $32.04 per ounce. Friday’s high for silver was $32.38, while the low was $31.60.
Gold and silver funds moved slightly lower in Friday trading.
- The SPDR Gold Trust (NYSE:) fell 0.1%.
- The iShares Gold Trust (NYSE:) declined 0.1%.
- The iShares Silver Trust (NYSE:) slipped 0.1%.
Gold and silver mining ETFs retreated during the day.
- The Market Vectors Gold Miners ETF (NYSE:) dipped 0.7%
- The Market Vectors Junior Gold Miners ETF (NYSE:) slid 0.6%.
- The Global X Silver Miners ETF (NYSE:) sank 0.7%.
Gold mining shares moved lower on Friday, with Eldorado Gold (NYSE:) sinking the most.
- Agnico-Eagle Mines (NYSE:) retreated 1.3%.
- Barrick Gold (NYSE:) slipped 0.8%.
- Eldorado Gold fell 1.7%.
- Goldcorp (NYSE:) edged down 0.2%.
- Kinross Gold (NYSE:) decreased 1.1%
- Newmont Mining (NYSE:) dipped 0.5%.
- NovaGold Resources (AMEX:) sank 0.8%.
- Yamana Gold (NYSE:) dropped 1%.
Silver mining shares mostly fell on Friday.
- Coeur d’Alene Mines (NYSE:) moved lower 0.8%.
- Hecla Mining (NYSE:) declined 0.8%.
- Pan American Silver (NASDAQ:) rose 0.4%.
- Silver Wheaton (NYSE:) gained 0.5%.
- Silver Standard Resources (NASDAQ:) dropped 1.2%.
As of this writing, Christopher Freeburn did not hold a position in any of the aforementioned securities. Adrian Ash of contributed to this report.
