Gold And Silver Prices Start Week With Gains

San Francisco (Jan 30)  Gold for delivery gained $4.80 per troy ounce, or 0.40%, to $1193.20 today, ending a four-day losing streak and putting it up 3.8% so far in 2017. Silver gained 1.50 cents per troy ounce, or 0.09%, to $17.12, and it’s up 7.4% year to date.

Elsewhere in gold news, Societe Generale cut its gold price forecast for the first three months of the year from $1,275 to $1,175 an ounce. For the year as a whole, it sees gold averaging at of $1,150 an ounce, down from $1,300.

The SPDR Gold Trust (GLD), the VanEck Vectors Gold Miners ETF (GDX), and the Direxion Daily Gold Miners Index Bull 3X Shares (NUGT) were all higher at recent check while the Direxion Daily Gold Miners Index Bear 3X (DUST) was falling. The iShares Silver Trust (SLV) is up slightly.

Source: Barron's