Seeking Alpha

Gold catches modest safe haven bid; miners finish mixed

|About: SPDR Gold Trust ETF (GLD)|By:, SA News Editor

Gold futures gained today but pulled back from early highs, finishing at their highest levels in just over a week, after the attack on Saudi oil production added to the appeal of safe haven assets.

December Comex gold (NYSEARCA:GLD) settled +0.8% to settle at $1,511.50/oz., the best since Sept. 6, while December silver (NYSEARCA:SLV) ended +2.6% to $18.026/oz.

"Gold and the U.S. dollar see immediate gains when the possibility of Middle East conflict rises," Jeff Wright, executive VP of GoldMining Inc. tells MarketWatch. "Safe haven interest will not wane quickly."

Most major mining companies rose, with some notable exceptions: GOLD -0.7%, NEM -0.3%, NG -4.5%, KGC +4.2%, AUY +3.7%, AU +1.9%, KL +4.5%, AGI +3.4%, IAG +3.7%, HMY +3.3%, GFI +2%.

ETFs: GLD, SLV, GDX, NUGT, GDXJ, JNUG, IAU, GGN, DUST, SIL, USLV, AGQ, PSLV, PHYS, JDST, SIVR, UGLD, SGOL, GOEX, SGDM, UGL, ASA, ZSL, SLVO, DGP, BAR, GLDI, RING, SLVP, DSLV, GLDM, OUNZ

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