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Gold Bars
Elko Daily Free Press file

Gold prices in 2017 gained the best annual advance in seven years, starting below $1,170 per ounce and closing Dec. 29 at $1,302.50 per ounce, Kitco reported Friday.

In 2010, prices were up 30.6 percent while the increase this year represents an advance of 12.67 percent.

Yet gold did not have steady growth in 2017. A rocky ride took levels up to about $1,300 several times over the year, including in April, June, August and September, when it hit its highest price at $1,357.

In December, prices dropped to $1,236 before climbing again to end on a high note. The monthly advance totaled 1.6 percent.

Experts cite geopolitical tensions and a weak U.S. dollar for supporting gold prices.

Staying at about $1,300 per ounce might be the goal of some for 2018, but critics say the high level will be difficult to maintain in the new year.

Newmont Mining Corp.’s stock price closed Dec. 29 at $37.52, after ranging from $31.42 to $39.63 throughout the year. Barrick Gold Corp. closed at $14.47, after ranging from $13.28 to $20.78.

Kinross Gold Corp. ended at $4.32 after a low of $3.10 and a high of $4.91.

McEwen Mining Inc. landed at $2.28 after trading from $1.82 to $4.43 in 2017.


Mining Quarterly - Mining, state and county reporter

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