{"id":24338,"date":"2012-04-09T08:47:00","date_gmt":"2012-04-09T08:47:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-edge-higher-silver-prices-lower\/24316\/"},"modified":"2012-04-09T08:47:00","modified_gmt":"2012-04-09T08:47:00","slug":"gold-prices-edge-higher-silver-prices-lower","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/gold-prices-edge-higher-silver-prices-lower\/24338\/","title":{"rendered":"Gold Prices Edge Higher; Silver Prices Lower"},"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 nearly half a percentage point on Monday as last week\u2019s disappointing labor department data over employment heralded uncertainty for the U.S. economy.\u00a0 Besides, weak data also revived hope of further quantitative easing by the Fed. Bullion also got boost from China as country\u2019s inflation spiked. <a href=\"https:\/\/thestockmarketwatch.com\/metal\/silver-price.aspx\">Silver prices<\/a>, meanwhile, are marginally lower in trading today.<\/p>\n<p><span id=\"more-24338\"><\/span><\/p>\n<p>While Spot\u00a0<a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">gold<\/a> climbed as much as 1 percent in early hours to $1,648 an ounce, before easing at $1,639.80 by 0329 GMT; \u00a0U.S. <a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">gold<\/a>\u00a0edged up 0.7 percent to $1,641.20.<\/p>\n<p><!--Ad Injection mfunc mode ad code--><!--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>Earlier in the last week, <a href=\"https:\/\/stockmarketwatch.com\/metal\/gold-price.aspx\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">gold<\/a> plunged more than 2 percent after U.S. policymakers offered no hints on\u00a0 \u00a0further quantitative easing.<\/p>\n<p>However, the metal\u2019s appeal as a hedge against the inflation got burnished as U.S. employers hired less than expected workers in March compared to previous few months. Last week, the U.S. labor department announced that only 120,000 jobs were added both by private and public sectors even as analysts were expecting at least 203,000 jobs creations. Weak employment data could keep the door open for the Federal Reserve for further monetary easing.<\/p>\n<p>Meanwhile, a higher-than-expected reading on China&#8217;s annual inflation<strong>\u00a0<\/strong>in March also pushed the <a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">gold prices<\/a>. Besides, market sentiment towards gold turned more positive as analysts in China dismissed the possibility that the data would deter Beijing from its pro-growth monetary policy.<\/p>\n<p>According to Li Ning, an analyst at Shanghai CIFCO <a href=\"https:\/\/thestockmarketwatch.com\/markets\/commodities\/today.aspx\">Futures<\/a>, \u201cIf we see more RRR (reserve requirement ratios) cuts, it will be positive for gold as it will raise inflation outlook down the road\u201d.<\/p>\n<p>A very rate of inflation in China during 2011 resulted in strong demand for gold.\u00a0 According to World Gold Council, the demand for physical metal in China also increased by 20% last year even as the demand in rest of the world increased by 7% in the same period.<\/p>\n<p>In India\u2014world\u2019s biggest market for physical gold\u2014jewelers finally ended their nearly three week strike as their demand for a roll back on excise\u00a0 duties on unbranded jewelry\u00a0 received an assurance\u00a0 by the government- which stated that it would look to scrap its hike proposal altogether.<\/p>\n<p><a href=\"https:\/\/thestockmarketwatch.com\/metal\/silver-price.aspx\">Silver<\/a> <a href=\"https:\/\/thestockmarketwatch.com\/markets\/commodities\/today.aspx\">futures<\/a> are currently trading 0.32% lower at $31.63 an ounce. In <a href=\"https:\/\/stockmarketwatch.com\/markets\/pre-market\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Premarket Movers\">pre-market trading<\/a> in New York, the iShares <a href=\"https:\/\/thestockmarketwatch.com\/metal\/silver-price.aspx\">Silver<\/a> Trust (ETF) (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=SLV\">NYSE: SLV<\/a>) is currently up 0.65% to $30.92, the ProShares Ultra <a href=\"https:\/\/stockmarketwatch.com\/metal\/silver-price.aspx\" data-internallinksmanager029f6b8e52c=\"5\" title=\"silver price today\">Silver<\/a> (ETF) (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=AGQ\">NYSE: AGQ<\/a>) is up 1.25% to $52.73, and the ProShares UltraShort Silver (ETF) (<a href=\"https:\/\/thestockmarketwatch.com\/markets\/nyse\/today.aspx\">NYSE<\/a>: ZSL) is down 1.28% to $10.78.<\/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\/market-updates\/stocks-headed-for-a-sharply-lower-finish-3\/24472\"><br \/>\nStocks Headed for a Sharply Lower Finish<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/chesapeake-energy-enters-into-three-deals-chk\/24466\"><br \/>\nChesapeake Energy Enters into Three Deals (CHK)<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/gold-and-silver-prices-in-green-5\/24465\"><br \/>\nGold and Silver Prices in Green<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-updates\/stocks-tumble-on-rising-worries-about-euro-zone\/24463\"><br \/>\nStocks Tumble on Rising Worries about Euro Zone<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/hot-stocks-to-watch\/bankatlantic-bancorp-bbx-receives-occ-approval-related-to-the-sale-of-bankatlantic-to-bbt\/24460\"><br \/>\nBankAtlantic Bancorp &#8211; BBX &#8211; Receives OCC Approval Related to the Sale of BankAtlantic to BB&amp;T<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/aegean-marine-petroleum-anw-announces-strategic-alliance-with-china-changjiang-bunker\/24458\"><br \/>\nAegean Marine Petroleum &#8211; ANW &#8211; Announces Strategic Alliance with China Changjiang Bunker<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/harsco-group-hsc-awarded-3-new-contracts-totaling-135-million\/24455\"><br \/>\nHarsco Group &#8211; HSC &#8211; Awarded 3 New Contracts Totaling $135 Million<\/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 nearly half a percentage point on Monday as last week\u2019s disappointing labor department data over employment heralded [&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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