Shares of most gold and silver companies finished higher on Friday, as they bounced back from yesterday’s steep sell-off. The Philadelphia Gold & Silver Index (XAU) closed up by 0.8% at 165.67.
Notable advancers in the sector included XAU components Gold Fields (GFI), Newmont Mining (NEM), and Silver Wheaton (SLW). Shares of GFI climbed by 1.7% to $11.73, NEM by 1.3% to $46.14 , and SLW by 2.0% to $36.12.
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The sector’s gains came despite mixed action in precious metals, which did not rebound from Thursday’s weakness. COMEX gold futures settled up by only $0.90 at $1,714.70 per ounce while COMEX silver dropped by $0.30, or 0.9%, to $32.37 per ounce.
Notable advancers in the sector included XAU components Gold Fields (GFI), Newmont Mining (NEM), and Silver Wheaton (SLW). Shares of GFI climbed by 1.7% to $11.73, NEM by 1.3% to $46.14 , and SLW by 2.0% to $36.12.
(Visit GoldAlert Pro at http://pro.goldalert.com for rankings and analysis on over 90 gold and silver stocks)
The sector’s gains came despite mixed action in precious metals, which did not rebound from Thursday’s weakness. COMEX gold futures settled up by only $0.90 at $1,714.70 per ounce while COMEX silver dropped by $0.30, or 0.9%, to $32.37 per ounce.
Gold and silver were unable to gain any traction as the U.S. dollar continued to rally against a basket of foreign currencies. The U.S. Dollar Index (DXY) rose by as much as 0.5% to 81.455, its highest level in over two months.
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