Shares of most gold miners were up as gold soared again Thursday, although NovaGold Resources Inc. (AMEX:NG), Ivanhoe Mines Ltd. (NYSE:IVN), Harmony Gold Mining (NYSE:HMY) and AngloGold Ashanti (NYSE:AU) were trading mixed.
Gold for June delivery climbed $16.80 to settle at $1,472.40 an ounce on the Comex division of the New York Mercantile Exchange. Silver jumped $1.427, or 3.6 percent, to $41.664 an ounce.
Spot gold was up 1.4 per cent to $1,474.30 an ounce, closing in on its record $1,476.21 set on Monday.
The collapsing U.S. dollar, tightening in China, sovereign debt crisis in Europe, unrest in the Middle East, increasing inflation and consequences of the Japanese earthquake are just some of the negative catalysts affecting the price movements.
The U.S. dollar was close to session lows, resulting in a further impetus to gold. The U.S. currency traded as low as 74.617, its lowest level since December 2009.
In base metals trading, May copper dropped 1.05 cents to settle at $4.284 a pound, July platinum increased $18.40 to $1,795.60 an ounce and June palladium was up $8.95 to $774.25 an ounce. May copper fell 1.05 cents to settle at $4.284 a pound
AngloGold Ashanti closed Thursday at $49.26, gaining $0.35, or 0.72 percent. Harmony Gold Mining closed at $14.90, up $0.07, or 0.47 percent. Ivanhoe Mines Ltd. ended the session at $26.38, falling $0.30, or 1.12 percent. NovaGold Resources Inc. closed at $13.22, rising $0.36, or 2.80 percent.
Friday, April 15, 2011
NovaGold (NG) (IVN) (HMY) (AU) Trade Mixed as Gold, Silver Rise Again
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