{"id":24895,"date":"2012-04-17T03:54:00","date_gmt":"2012-04-17T03:54:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-settle-lower-4\/24870\/"},"modified":"2012-04-17T03:54:00","modified_gmt":"2012-04-17T03:54:00","slug":"gold-prices-settle-lower-4","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/gold-prices-settle-lower-4\/24895\/","title":{"rendered":"Gold Prices Settle 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> ended lower on Monday as stronger dollar and <a href=\"https:\/\/thestockmarketwatch.com\/markets\/bonds\/today.aspx\">bonds<\/a> attracted investors looking for safer bets even as data on U.S. retail sales for March resulted in upbeat sentiment.<\/p>\n<p><span id=\"more-24895\"><\/span><\/p>\n<p><a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">Gold<\/a> for June delivery\u00a0slid $10.50, or 0.6%, to $1,649.70 an ounce on the Comex division of the New York Mercantile Exchange. Yesterday\u2019s close was the lowest in last one week.<\/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>The strength in dollar is mainly attributed to the weakening of euro. According to Jim Steel, analysts at HSBC, New York, \u201cResurfacing concerns about the euro zone\u2019s debt problems weakened the euro\u201d.<\/p>\n<p>Steel also said that similar situation was witnessed last year when deteriorating debt crises in the euro-zone were so great that the metal suffered badly, unable to catch any safe-haven flows.<\/p>\n<p>On Monday, the U.S. dollar continued to trade higher on most of the day \u2013 a trend continued from the last week- as concerns over Spanish bond yields which went above psychological 6% level, prompted selling pressure on the euro-zone\u2019s common currency. Last week, Spain\u2019s central bank reported that Spain\u2019s commercial banks were too reliant on ECB funding, pointing liquidity crunch in country\u2019s banking sector which set the yields shoot-up.<\/p>\n<p>A strengthening dollar is not a good news for the bullion investors as the metal like many other <a href=\"https:\/\/thestockmarketwatch.com\/markets\/commodities\/today.aspx\">commodities<\/a> is traded in dollars, therefore any upsurge in the greenback is likely to discourage traders holding currencies other than dollars.\u00a0 However, the dollar lost some of its steam as the dollar index recently stood at 79.562 against late Friday\u2019s reading of 79.828.<\/p>\n<p>In its notes to investors, analysts at Commerzbank wrote, \u201cThe metal also has been unable to resist the general downward spiral\u201d that hit <a href=\"https:\/\/thestockmarketwatch.com\/markets\/commodities\/today.aspx\">commodities<\/a> and some equity markets earlier on Monday\u201d.\u00a0 Metal markets were under pressure on Monday with platinum falling to its lowest level in last two months.<\/p>\n<p><a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">Gold<\/a>\u00a0 has plummeted about \u00a08 percent from near $1,800 an ounce at the end of February as some strong strings \u00a0of positive U.S. economic data in February and March \u00a0reduced market hopes about a third round of asset buy back by the Federal Reserve also known as quantitative easing to boost growth.<\/p>\n<p>Commenting over the metal and greenback inverse relation, Carlos Parez-Santalla, precious metals trader at PVM <a href=\"https:\/\/thestockmarketwatch.com\/markets\/commodities\/today.aspx\">Futures<\/a> told to Reuters, \u201cAs long as the general impression of economic stability is positive, money managers will tend to move away from the yellow metal and towards the paper investments with promise of higher returns.\u201d<\/p>\n<p>The SPDR <a href=\"https:\/\/stockmarketwatch.com\/metal\/gold-price.aspx\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">Gold<\/a> Trust (ETF) (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=GLD\">NYSE: GLD<\/a>) ended the day 0.24% lower at $160.46.<\/p>\n<p>Meanwhile, the U.S. retail sales data for March showed a 0.8% increase \u2013rising for the third successive month\u2014signifying the fact that the economy grew faster than expected in the first quarter.\u00a0 The data could put a shadow of doubt on whether the fed would provide any further quantitative easing. Last week, gold gained 1.8% following a disappointing data from the U.S. labor department which showed non-farms jobs creation in March was lower than estimated, pointing some concerns over strength of the U.S. economic recovery.<\/p>\n<p>In some other precious metal markets, Platinum for July delivery\u00a0edged down $12.10, or 0.8%, to $1,575.80 an ounce. However, sister metal palladium joined <a href=\"https:\/\/thestockmarketwatch.com\/metal\/copper-price.aspx\">copper<\/a> to buck the downward trend. The contract for June delivery\u00a0climbed up $3.5, or 0.5%, to end at $650.70 an ounce.<\/p>\n<p><a href=\"https:\/\/thestockmarketwatch.com\/markets\/commodities\/today.aspx\">Futures<\/a> on May <a href=\"https:\/\/thestockmarketwatch.com\/metal\/copper-price.aspx\">copper<\/a>\u00a0added less than a cent to end the day at $3.63 per pound.<\/p>\n<p>Futures on May <a href=\"https:\/\/thestockmarketwatch.com\/metal\/silver-price.aspx\">silver<\/a>\u00a0lost 2 cents, or 0.1%, to close at $31.37 an ounce<\/p>\n<p>The iShares <a href=\"https:\/\/thestockmarketwatch.com\/metal\/silver-price.aspx\">Silver<\/a> Trust (ETF) (<a href=\"https:\/\/thestockmarketwatch.com\/markets\/nyse\/today.aspx\">NYSE<\/a>: SLV) ended the day 0.03% higher at $30.56.<\/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-lower-finish-28\/25062\"><br \/>\nStocks Headed for a Lower Finish<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/gold-and-silver-prices-remain-in-red-in-mid-day-trading-4\/25052\"><br \/>\nGold and Silver Prices Remain in Red in Mid-Day Trading<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-updates\/stocks-fall-in-mid-day-trading\/25049\"><br \/>\nStocks Fall in Mid-Day Trading<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-updates\/stocks-struggle-for-direction-in-early-trading-2\/25048\"><br \/>\nStocks Struggle for Direction in Early Trading<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/gold-prices-flat-silver-prices-edge-lower\/25039\"><br \/>\nGold Prices Flat; Silver Prices Edge Lower<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/hot-stocks-to-watch\/quest-diagnostics-dgx-had-a-very-solid-first-quarter\/25008\"><br \/>\nQuest Diagnostics (DGX) had a very solid first quarter<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/hot-stocks-to-watch\/abbott-park-abt-off-to-a-strong-start-in-2012\/25011\"><br \/>\nAbbott Park &#8211; ABT &#8211; Off to a strong start in 2012<\/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 ended lower on Monday as stronger dollar and bonds attracted investors looking for safer bets even as data [&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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