Newmont Mining (NYSE:NEM), Barrick Gold (NYSE:ABX) and Goldcorp (NYSE:GG) closed up Thursday, even as gold prices fell.
Gold closed down on the last day of the quarter, as prices weakened after Greece voted for austerity measures in order to prevent a debt default by securing financial aid.
Even so, gold still finished the quarter in positive territory because of an ongoing extremely weak global economy.
As for the sovereign debt crisis in Europe, it continues to fluctuate back and forth as the EU battles to keep countries from becoming the first domino to drop in what could quickly become a contagion. The sovereign debt situation in Europe is far from being solved or safe.
Gold closed the quarter up by close to five percent, settling at $1,502.80, down $7.60 for August futures. Spot gold was trading at just over $1,500 an ounce.
The inability of gold to rally on a weak U.S. dollar has some concerned it could be a negative sign for the next quarter. Against a basket of currencies the greenback was down half a percent. Most of that on an expected increase in interest rates in Europe.
Silver also closed down Thursday, ending the quarter down 7.5 percent. If it doesn't find more support, many believe it could drop significantly more before it begins its upward climb again. Silver had nine straight positive quarters before this one.
Newmont Mining closed at $53.97, gaining $0.45, or 0.84 percent. Goldcorp closed at $48.27, up $0.02, or 0.04 percent. Barrick Gold closed at $45.29, rising $0.21, or 0.47 percent.
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