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
- NFL MNF: Pittsburgh Steelers 30, Houston Texans 23 [PHOTOS]
- 2014 MLB World Series Game 1: San Francisco Giants 7, Kansas City Royals 1 [PHOTOS]
- 2014 MLB World Series - Game 2: Kansas City Royals 7, San Francisco Giants 2 [PHOTOS]
- NFL Thursday Recap - Denver Broncos 35, San Diego Chargers 21: Peyton Manning Has 3 TDs In Easy Win [PHOTOS]
Join the Conversation
- ASUS Releases A Teaser Indicating The Arrival of New Zenfone and ZenWatch On October 28
- Boy Stoned To Death For Alleged Rape, Victim Receives Dowry From Militants
- Xiaomi Redmi 1S vs. Sharp Aquos Crystal – Specifications, Features And Price Showdown
- Three Dual SIM Samsung Galaxy Note 4 Duos Variants Comes To China
- Russia is Creating Underwater Combat Robots to Protect its Arctic Territories
- ‘Lone Wolf’ Attack on Canada Parliament Hill Could be ISIS-Related
- Swedish Military Spots ‘Russian Submarine’ Off Stockholm Coast, An Alarming ‘Security Game Changer’