Gold prices on Friday closed below $1,700 per ounce, almost flat for the session but lower for the week, after the US Federal Reserve’s recent judgment on monetary policy and uncertainties linger over the fiscal cliff.
February gold gained 20 cents to close at $1,697 on the Comexsection of the New York Mercantile Exchange. It held tight to a slight trading range of $1,694 to $1,701.90.
Also, March silver settled lower Friday, lost 6 cents, or 0.2%, at $32.30 per ounce, retreating from a high of $32.80. That was its lowermost settlement in more than a month.
On Thursday, the contract declined 4.2%. Silver is traditionally more volatile than gold, and for the week, it slipped 2.5%.[article_detail_ad_1]
Gold-mining firmVista Gold Corp.(NYSEAMEX:VGZ) slipped -9.86% to end the trade at $2.65.The company stated that its offering of almost 3.6 million units priced at a 6.5% discount to Thursday’s settlement, as the gold mining firm looks to use the earnings to progress its projects in Australia and Mexico, among other things.
Every unit is comprised of one common share and half a common share purchase warrant. Each complete warrant is exercisable to purchase a common share at an exercise price of $3.30 for two years.
Newmont Mining Corporation (NYSE:NEM) recentlydeclared that President and Chief Operating Officer Gary Goldberg will turn out to be President and Chief Executive Officer and sit with Newmont’s Board of Directors as of March 1, 2013.
He will be a successor of Richard O’Brien who will resign as CEO and retire from the Board at that time. Its shares gained +0.27% to close at $44.29
Hecla Mining Company (NYSE:HL), onDecember 3, 2012,declared its Board of Directors has elected to announce the regular quarterly dividend of $0.875 a share on the outstanding Series B Cumulative Convertible Preferred Stock.Its shares gained +2.87% to close at $5.73.