Precious Metals Extend Gains, Gold Hits 3-Week High
By jturbin | November 9, 2012 6:58 AM EST
Precious metals rose modestly Thursday morning, but built on their gains in afternoon trading.
Gold futures settled up at the COMEX by $9.70, or 0.6%, at $1,723.90 per ounce, but extended their gains in electronic trading to $1,734.90. In doing so, the yellow metal reached its best level since October 19th, three week ago.
Silver futures followed a similar path, rising $0.49, or 1.6%, to $32.16 per ounce at the COMEX. Subsequently in electronic trading, silver climbed to $32.36, its highest point since November 1st.
The rally in precious metals was not accompanied by weakness in the U.S. dollar, however, as the greenback held near unchanged against a basket of foreign currencies.
Gold and silver stocks added to their gains alongside the metals, as the Philadelphia Gold & Silver Index (XAU) added 1.0% to 184.16. Notable XAU components in the black included Agnico-Eagle Mines (AEM), Eldorado Gold (EGO), and Silver Wheaton (SLW). Shares of AEM rose by 1.4% to $56.59, EGO by 3.0% to $15.27, and SLW by 1.5% to $40.73.
(Get analysis and rankings on over 90 senior and junior gold and silver mining stocks at GoldAlert Pro – http://pro.goldalert.com)
Most Popular Slideshows
- Jennifer Lawrence & Nicholas Hoult Allegedly Split: Mad Max Actor Cheats with Kristen Stewart & Riley Keough - Reports
- Taylor Swift Named Forbes' Second Highest Paid Country Musician [PHOTOS]
- Forever Lost: Indescribable Anguish for Malaysia Airlines MH17 Families, Remains of Some Victims May Never Be Found (PHOTOS)
- Lunch with the Gods: Pope Francis Eats with Vatican Workers in Cafeteria
Join the Conversation
- Global Markets Overview – July 15, 2014
- Honduran Gold Mine Caves in; 8 Rescued, 3 Remain Trapped (PHOTOS)
- Chinese Govt Tightens Control on Gold to Curb Imports, Could Drop 400T from 2013 – Report
- ANZ Seeks Role in Pilot Global Gold Trading Platform in Shanghai
- US California Couple Sells 1,400 Rare Gold Coins Found in Backyard, Now Millionaires
- Google Nexus 6, 8 with Android L on Release Date Promises Killer Mobile Device Experience
- iPhone 6 Release Date Relevance to iOS Newbies: Specs Meaning, Price Considerations
- Killer Whales Gobble Japanese Whaling Crew
- 12-inch MacBook Apple Retina and 2014 MacBook Pro to Feature Liquid Sensors, Release in October
- The Pirate Bay Releases ‘The Mobile Bay’: Mobile Torrent Download Made Easier but Remains Illegal
- 5 Marketing Nuggets We Can All Learn From Lady Gaga
- Malaysia Airlines Considers Changing Name After MH370 and MH17 Tragedies