{"id":24492,"date":"2012-04-11T04:13:00","date_gmt":"2012-04-11T04:13:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-rebound-to-settle-higher\/24467\/"},"modified":"2012-04-11T04:13:00","modified_gmt":"2012-04-11T04:13:00","slug":"gold-prices-rebound-to-settle-higher","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/gold-prices-rebound-to-settle-higher\/24492\/","title":{"rendered":"Gold Prices Rebound to Settle Higher"},"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>On a very highly fluctuating day, <a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">gold prices<\/a> recovered and gained about 1% in the last hours of trading on Tuesday, as investors preferred buying safe haven instruments like <a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">gold<\/a>, bond and dollar amid rising global economic uncertainties and weakening U.S. equities.<\/p>\n<p><span id=\"more-24492\"><\/span><\/p>\n<p><a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">Gold<\/a> <a href=\"https:\/\/thestockmarketwatch.com\/markets\/commodities\/today.aspx\">futures<\/a> for June delivery\u00a0climbed up $16.80 to end at $1,660.70 an ounce on the Comex division of the New York Mercantile Exchange. This way, the metal has now gained on four successive sessions, after dropping 2% early last week. The metal prices have rebound after a disappointing employment data for March was released by the labor department, last Friday. On Tuesday, <a href=\"https:\/\/stockmarketwatch.com\/metal\/gold-price.aspx\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">gold<\/a> gained 0.9% over the previous day close.<\/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>On Tuesday, which saw prices oscillating at very brisk pace, gold touched as low as $1,632.50 an ounce.<\/p>\n<p>According to Charles Nedoss, a senior market strategist with Olympus <a href=\"https:\/\/thestockmarketwatch.com\/markets\/commodities\/today.aspx\">Futures<\/a> in Chicago, \u201cYou are starting to see safe-haven buying for gold, as prices bounced off the day\u2019s lows and the asset gathered more interest from risk-averse investors.\u201d<\/p>\n<p>Mr. Nedoss also believes that a close above $1,650 would indicate another leg up for gold, with $1,680 to $1,685 as the next level of technical resistance.<\/p>\n<p>Meanwhile, many gold analysts believe that rising global economic uncertainties will push up the yellow metal further. For instance, analysts at London \u2013based Sharps Pixley said the current events have given \u201crebirth to uncertainties\u201d. They were referring to uninspiring U.S. non-farms payrolls report for March reported late last week, as well as debts concerns of the euro-zone countries and a higher-than-expected March reading on consumer prices in China.<\/p>\n<p>Reacting to gloomy economic prospects, Jeremy Friesen, commodity strategist at Societe Generale in Hong Kong said, \u201cIf weak data continues, the Fed will have to intervene again to stimulate consumption\u201d.<\/p>\n<p>\u201cThe next couple of years will be really challenging for global growth and central banks will be relied on as a crutch to get us through\u201d, he said to Reuters. Market participants are hoping that the fed will ease its monetary policy now after the release of surprisingly sluggish U.S. employment data.<\/p>\n<p>On tuesday, U.S. stocks also slid sharply even as crude oil prices pulled back to $101 a barrel.<\/p>\n<p>Although U.S. equities started mixed, all the three bourses swung to heavy losses on Monday and Tuesday as lackluster employment data unnerved investors.<\/p>\n<p>As economic uncertainties weighed on U.S. equities, investors are moving towards safer haven conduits like the dollar, <a href=\"https:\/\/thestockmarketwatch.com\/markets\/bonds\/today.aspx\">bonds<\/a> and gold. On Tuesday, Treasuries price moved up on fifth successive day, pushing the yields down.<\/p>\n<p>The SPDR Gold Trust (ETF) (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=GLD\">NYSE: GLD<\/a>) ended the day 1.09% higher at $161.10.<\/p>\n<p>In some other precious metals market news, most metals futures fell on Tuesday, with <a href=\"https:\/\/thestockmarketwatch.com\/metal\/silver-price.aspx\">silver<\/a> only the exception, tracking gold higher.<\/p>\n<p><a href=\"https:\/\/thestockmarketwatch.com\/metal\/silver-price.aspx\">Silver<\/a> for May delivery\u00a0edged up 15 cents, or 0.5%, to settle at $31.68 an ounce.<\/p>\n<p>Futures on May <a href=\"https:\/\/thestockmarketwatch.com\/metal\/copper-price.aspx\">copper<\/a>\u00a0dropped 7 cents, or 1.9%, to close at $3.65 a pound.<\/p>\n<p>Futures on July platinum plunged\u00a0$24.50, or 1.5%, to close at $1,593.70 an ounce, while palladium for June delivery\u00a0edged down $6.95, or 1.1%, to end at $636.85 an ounce.<\/p>\n<p>Experts bullish on Metals<\/p>\n<p>According to Anne-Laure Tremblay, precious-metals strategist at BNP Paribas, the prices of <a href=\"https:\/\/stockmarketwatch.com\/metal\/silver-price.aspx\" data-internallinksmanager029f6b8e52c=\"5\" title=\"silver price today\">silver<\/a>, platinum and palladium will trade higher in line with gold through 2012 and 2013.<\/p>\n<p>In a research report, Anne-Laure, wrote, \u201cSilver is in large supply surplus, but should follow gold higher, given its strong positive correlation with the metal, although the downside risks here are particularly pronounced\u201d.<\/p>\n<p>For industry specific metals like platinum and palladium, Anne-Laure, said \u201cPlatinum also faces a large supply surplus \u2026 [and] supply issues in South Africa will provide additional support &#8230; in 2012,\u201d she said. \u201cPalladium\u2019s balance should tilt back into deficit in 2012, and we expect the price to increasingly reflect this.\u201d<\/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-fall-sharply\/24742\"><br \/>\nGold and Silver Prices Fall Sharply<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-updates\/stocks-headed-for-a-lower-finish-27\/24738\"><br \/>\nStocks Headed for a Lower Finish<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-updates\/stocks-lower-on-china-euro-zone-worries\/24735\"><br \/>\nStocks Lower on China, Euro Zone Worries<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/genesee-wyoming-gwr-traffic-for-march-2012-and-the-first-quarter-of-2012\/24724\"><br \/>\nGenesee &amp; Wyoming &#8211; GWR &#8211; Traffic for March 2012 and the First Quarter of 2012<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/meridian-bioscience-vivo-awarded-new-agreement-with-premier-healthcare-alliance\/24723\"><br \/>\nMeridian Bioscience &#8211; VIVO &#8211;  Awarded New Agreement with Premier Healthcare Alliance<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/brightpoint-cell-launch-of-waha-the-first-e-commerce-website-dedicated-exclusively-to-windows-phones-in-uae\/24722\"><br \/>\nBrightpoint &#8211; CELL &#8211; Launch of Waha, the first e-commerce website dedicated exclusively to Windows Phones in UAE<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/hot-stocks-to-watch\/cherokee-chke-fiscal-2012-represented-a-year-of-accomplishment\/24721\"><br \/>\nCherokee &#8211; CHKE &#8211; Fiscal 2012 represented a year of accomplishment<\/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>On a very highly fluctuating day, gold prices recovered and gained about 1% in the last hours of trading on [&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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