Gold and silver shares turned high Friday morning alongside precious metals, with the Philadelphia Gold & Silver Index (XAU) rising 1.0% to 216.48.
Gold futures tumbled to $1,576 in overnight trading, but rebounded back to $1,590 in mid-day trading. Silver followed a similar path, sliding to $37.89 overnight before bouncing back to near $39 per ounce.
The rebound in gold and silver bullion was fueled by weakness in the U.S. Dollar Index (DXY), which relinquished its gains and was lower by 0.2% at 75.10 in mid-day trading.
Among gold miners, Agnico-Eagle Mines (AEM) and Kinross Gold (KGC) advanced 1.2% and 1.7%, respectively. Notable silver companies posting gains included Coeur d’Alene Mines (CDE) and First Majestic Silver (AG), which climbed 5.8% and 1.6%, respectively.
Klondex Mines Confirms New CEO and Board
Klondex also announced that Blane Wilson has been named President and CEO, expanding upon his prior role as President and Chief Operating Officer. William J. Solloway, who has stepped down as CEO, remains as Chairman of the Klondex Board. Full Klondex News Release.
* Klondex’s new Board of directors has appointed a new Audit Committee and expanded the scope of its prior Compensation Committee to form the Compensation and Governance Committee.
* Directors Andre Douchane, Robin Goad, and Ken Stowe have each agreed to serve on both the Audit Committee and the Compensation and Governance Committee.
