Gold futures extended their gains following yesterday’s rally, with the COMEX February contract settling up $12.20, or 0.8%, at $1,612.70 per ounce. The yellow metal had slipped below $1,600 this morning, but bounced back as the U.S. dollar pared its gains against a basket of foreign currencies.
In contrast to gold, silver gave back a portion of Tuesday’s advance, as the COMEX February contract finished down $0.47, or 1.6%, at $29.10 per ounce.
As for gold and silver stocks, the sector moved modestly higher this morning but later relinquished its gains. In afternoon trading the Philadelphia Gold & Silver Index (XAU) was lower by 0.3% at 188.75.
Among gold miners, AngloGold Ashanti (AU) fell 1.4% to $43.25 per share and Harmony Gold (HMY) slid 1.9% to $11.83 per share. Pan American Silver (PAAS) and Silver Standard Resources (SSRI) – two of the most widely-traded silver stocks – declined 0.9% to $22.50 and 1.2% to $14.61 per share.
Klondex Mines Appoints New VP, Exploration
* He has previously held positions at Freeport McMoRan, Minorco USA/Independence Mining, Kinross Gold, Queenstake Resources USA, Granges US (now Vista Gold) and most recently, Victoria Gold
* Mr. Whilton helped discover seven ore deposits with over 16 million ounces of gold that were developed into mines in northern Nevada and in the Eastern Goldfields region of Western Australia, as well as three gold deposits awaiting development
* He fulfills the requirements of a “Qualified Person” as defined by National Instrument 43-101 and has authored or co-authored several NI 43-101 Technical Reports for gold and uranium projects
