{"id":22338,"date":"2012-03-08T00:20:00","date_gmt":"2012-03-08T00:20:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-rebound-after-tuesdays-sell-off\/22318\/"},"modified":"2012-03-08T00:20:00","modified_gmt":"2012-03-08T00:20:00","slug":"gold-prices-rebound-after-tuesdays-sell-off","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/gold-prices-rebound-after-tuesdays-sell-off\/22338\/","title":{"rendered":"Gold Prices Rebound after Tuesday\u2019s Sell-Off"},"content":{"rendered":"<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - News Links *\/\ngoogle_ad_slot = \"3490797620\";\ngoogle_ad_width = 468;\ngoogle_ad_height = 15;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<p><!--Ad Injection mfunc mode ad include code--><!--mfunc include_once('\/mnt\/Target01\/327806\/www.thestockmarketwatch.com\/web\/content\/stock-market-news\/wp-content\/plugins\/ad-injection\/adshow.php') --><!--\/mfunc--><\/p>\n<p><a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">Gold prices<\/a> gained on Wednesday as hopes for a Fed\u2019s new asset-purchase program and better prospects facing\u00a0Greece&#8217;s debt deal boosted investors\u2019 risk appetite thereby ending three day losing streak.<\/p>\n<p><span id=\"more-22338\"><\/span><\/p>\n<p>Besides, U.S equities and oil prices also surged following major banks and pension funds decision to throw their weight behind Greece&#8217;s bond swap offer to private creditors, making it increasingly possible that the rescue package will go through without any glitches.<\/p>\n<p><!--mfunc adshow_display_ad_file_v2(array('ad_random_1.txt'), array(100), array('align' => 'float right', 'clear' => '', 'margin_top' => '', 'margin_bottom' => '', 'padding_top' => '', 'padding_bottom' => ''), array(), array()) --><\/p>\n<div style=\"float:right;margin-left:5px;\"><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - in News 300 *\/\ngoogle_ad_slot = \"5684630733\";\ngoogle_ad_width = 300;\ngoogle_ad_height = 250;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/div>\n<p><!--\/mfunc--><\/p>\n<p><a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">Spot gold<\/a><strong>\u00a0<\/strong>gained 0.04 percent, closing at $1684.80, U.S. <a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">gold<\/a>\u00a0<a href=\"https:\/\/thestockmarketwatch.com\/markets\/commodities\/today.aspx\">futures<\/a>\u00a0for April delivery climbed up $11.80 to close at $1,683.90.<\/p>\n<p>In the U.S., bullion made a recovery on Wednesday as the U.S.\u00a0Federal Reserve<strong> <\/strong>officials were considering a new type of bond-buying program designed to tame inflation. Earlier the metal dropped 6 percent since Wednesday last week, mainly due to fears that no monetary easing was likely to happen in near future.<\/p>\n<p>While speaking to the CNBC, Axel Merk, portfolio manager of Merk Funds with $700 million in assets under management said \u201cThe Fed is going to be so busy managing\u00a0the yield curve\u00a0and it will forget to conduct sound monetary policy and to mop up this liquidity at some point\u201d.<\/p>\n<p>However, analysts fear that strong dollar can push back the bullion in the short term. Although the euro gained somewhat, concerns still remain whether Greece can avert the default by pulling up the bond swap deal.\u00a0 Any bad news in this front can hurt the euro, putting selling pressure on the bullion. The metal tends to lose value as rising dollar, which makes <a href=\"https:\/\/thestockmarketwatch.com\/markets\/commodities\/today.aspx\">commodities<\/a> priced in the U.S. unit more expensive for other currency holders, and reduces the metal&#8217;s appeal as an alternative asset.<\/p>\n<p>Meanwhile, yields on lower-rated euro zone government <a href=\"https:\/\/thestockmarketwatch.com\/markets\/bonds\/today.aspx\">bonds<\/a> increased \u00a0as investors\u2019 sentiment towards riskier assets worsened, due to worries that Greece may not be able to get sufficient \u00a0lending support for its debt restructuring.<\/p>\n<p>Europe&#8217;s equity markets were also trading lower in choppy trade as investors were worried about Greek debt and gloomy global economic growth prospects.<\/p>\n<p>In <a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">gold<\/a>\u2019s physical market, world\u2019s biggest <a href=\"https:\/\/stockmarketwatch.com\/metal\/gold-price.aspx\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">gold<\/a> purchaser, India continued buying gold as traders and dealers took advantage of lowest weekly price of the metal.\u00a0 In China, world\u2019s second biggest bullion market, buying was bit subdued.<\/p>\n<p>In its note, UBS wrote \u201cWhile dips have encouraged some buying from China, interest has been rather sporadic, instead of the consistent support that gold seems to need right now\u201d. The bank also added \u201cOur client flows were two-way and Shanghai Gold Exchange volumes for the two gold contracts have eased back to average levels.\u201d<\/p>\n<p>Gold <a href=\"https:\/\/thestockmarketwatch.com\/markets\/etfs\/today.aspx\">ETFs<\/a> also rose on Wednesday. The SPDR Gold Trust (ETF) (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=GLD\">NYSE: GLD<\/a>) ended the day 0.57% higher at $163.63, the Market Vectors ETF Trust (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=GDX\">NYSE: GDX<\/a>) ended the day 0.42% higher at $52.67, and the iShares Gold Trust (ETF) (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=IAU\">NYSE: IAU<\/a>) ended the day 0.67% higher at $16.42.<\/p>\n<p>Moving to some other precious markets, <a href=\"https:\/\/thestockmarketwatch.com\/metal\/silver-price.aspx\">silver<\/a><strong> <\/strong>\u00a0 edged up a bit by $33.39 an ounce, following a sharp plunge on Tuesday when it lost more than 4 percent, its largest one-day decline this year.<\/p>\n<p><a href=\"https:\/\/thestockmarketwatch.com\/metal\/silver-price.aspx\">Silver<\/a> ETFs also finished higher on Wednesday. The iShares <a href=\"https:\/\/stockmarketwatch.com\/metal\/silver-price.aspx\" data-internallinksmanager029f6b8e52c=\"5\" title=\"silver price today\">Silver<\/a> Trust (ETF) (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=SLV\">NYSE: SLV<\/a>) ended the day 1.22% higher at $32.41, while the ProShares Ultra Silver (ETF) (<a href=\"https:\/\/thestockmarketwatch.com\/markets\/nyse\/today.aspx\">NYSE<\/a>: AGQ) ended the day 2.58% higher at $58.45.<\/p>\n<p>Platinum and its sister metal palladium also slid in that session by the most this year, with former down more than 3 percent and the latter shedding 5.5 percent. However, both metals rebounded on Wednesday, with\u00a0platinum\u00a0climbing up 0.12 percent, closing at $1,627.50 an ounce and\u00a0palladium\u00a0edging up 0.36 percent, closing at $683.22 an ounce.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>More Posts by this author<\/p>\n<ul>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/gold-and-silver-prices-rebound-3\/22476\"><br \/>\nGold and Silver Prices Rebound<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-updates\/stocks-headed-for-a-third-straight-higher-finish-3\/22474\"><br \/>\nStocks Headed for a Third Straight Higher Finish<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/hot-stocks-to-watch\/novavax-past-year-has-been-transformational-for-the-company-nvax\/22471\"><br \/>\nNovavax &#8211; Past year has been transformational for the company &#8211; NVAX<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/hot-stocks-to-watch\/osiris-therapeutics-pleased-with-the-commercial-performance-of-grafix-and-ovation-osir\/22469\"><br \/>\nOsiris Therapeutics &#8211; Pleased with the commercial performance of Grafix and Ovation &#8211; OSIR<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/hot-stocks-to-watch\/freddie-mac-q4-and-fy11-financial-results-fmcc\/22468\"><br \/>\nFreddie Mac &#8211; Q4 And FY11 Financial Results &#8211; FMCC<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/hot-stocks-to-watch\/coffee-holding-reports-a-strong-quarter-in-both-revenues-and-earnings-jva\/22467\"><br \/>\nCoffee Holding  &#8211; Reports a strong quarter in both revenues and earnings &#8211; JVA<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/hertz-global-holdings-acquired-arpielle-equipment-co-htz\/22463\"><br \/>\nHertz Global Holdings &#8211; Acquired Arpielle Equipment Co. &#8211; HTZ<\/a><\/li>\n<\/ul>\n<hr>\n<table style=\"border:none;margin:0;\">\n<tr>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/2024\/08\/5.jpg\" alt=\"edliston\" width=\"125\" height=\"125\" class=\"photo\"><\/td>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<div style=\"font-size:11pt;\"><b>Post Written By: Ed Liston <\/b><\/div>\n<div style=\"font-size:10pt;\">\n<p>Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.\n<\/p><\/div>\n<\/td>\n<\/tr>\n<\/table>\n<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"pub-1408583772585547\";\n\/* 336x280, created 7\/9\/11 *\/\ngoogle_ad_slot = \"3552319058\";\ngoogle_ad_width = 336;\ngoogle_ad_height = 280;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<div style=\"margin:5px;margin-bottom:20px;font-size:11pt;\">&laquo; <a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/\">Return to Stock Market News<\/a> &laquo; <\/div>\n","protected":false},"excerpt":{"rendered":"<p>Gold prices gained on Wednesday as hopes for a Fed\u2019s new asset-purchase program and better prospects facing\u00a0Greece&#8217;s debt deal boosted [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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