{"id":25515,"date":"2012-04-24T13:20:00","date_gmt":"2012-04-24T13:20:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-rebound-ahead-of-feds-open-market-meeting-silver-prices-also-edge-higher\/25507\/"},"modified":"2012-04-24T13:20:00","modified_gmt":"2012-04-24T13:20:00","slug":"gold-prices-rebound-ahead-of-feds-open-market-meeting-silver-prices-also-edge-higher","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/gold-prices-rebound-ahead-of-feds-open-market-meeting-silver-prices-also-edge-higher\/25515\/","title":{"rendered":"Gold Prices Rebound Ahead of Fed\u2019s Open Market Meeting; Silver Prices also Edge 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><a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">Gold prices<\/a> rebounded on Tuesday as euro gained against the dollar following successful debt sales in the Netherlands, even as news of central banks, globally increasing their <a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">gold<\/a> reserves helped lifting the metal\u2019s prices. However, trading volume still remains low as most <a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">gold<\/a> investors eagerly wait for Federal Reserve\u2019s open market committee meeting which starts today. Meanwhile, <a href=\"https:\/\/thestockmarketwatch.com\/metal\/silver-price.aspx\">silver prices<\/a> have also edged higher today.<\/p>\n<p><span id=\"more-25515\"><\/span><\/p>\n<p>While <a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">Spot gold<\/a>\u00a0was gaining 0.4 percent at $1,644.61 an ounce, U.S. <a href=\"https:\/\/stockmarketwatch.com\/metal\/gold-price.aspx\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">gold<\/a> <a href=\"https:\/\/thestockmarketwatch.com\/markets\/commodities\/today.aspx\">futures<\/a>\u00a0were adding $13.50 an ounce at $1,646.10.<\/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>Gold has slid more than 2% this month as stronger dollar and worsening euro-zone debt crises weighed on euro.<\/p>\n<p>However, on Tuesday market sentiment towards gold improved with euro rising 0.4% as Netherlands debt sales went off smoothly despite the Dutch Government Collapsed a day before.<\/p>\n<p>Reacting to the rebound, Sharps Pixley Chief Executive Ross Norman said to Reuters \u201cThe story for gold is unchanged, whether you&#8217;re looking at the fundamentals, which have underpinned the market from the year 2000, or the premium on gold attached to the economic crisis\u201d.<\/p>\n<p>Meanwhile data published by International Monetary Fund showed that central banks worldwide have continued to make significant gold purchases, with Mexico increasing its holdings by 16.8 tons and Russia lifting its reserves by 16.55 tons last month. The data also showed Argentina raised its gold holdings by 7 tons in September.<\/p>\n<p>In its note to investors, UBS bank wrote \u201cThe confirmation of official central buying should help gold find some stability today after a poor start to the week\u201d.\u00a0 However, the note also cautioned that investors should not read too much from central bank\u2019s buying as market sentiment to an large extent depend on FOMC meeting. After all, Fed-speak still remain the largest determinant of gold&#8217;s direction for now,\u201d added the note.<\/p>\n<p>Among other precious metal markets, <a href=\"https:\/\/thestockmarketwatch.com\/metal\/silver-price.aspx\">silver<\/a>\u00a0gained<strong> <\/strong>0.9 percent at $31.08 an ounce.\u00a0 Spot platinum\u00a0fell 0.2 percent at $1,550.25 an ounce, while its sister metal\u00a0palladium\u00a0climbed up 0.7 percent at $672.47.<\/p>\n<p>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 trading 0.30% lower at $29.88, 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 currently trading 0.57% lower at $49.06, and the ProShares UltraShort Silver (ETF) (<a href=\"https:\/\/thestockmarketwatch.com\/markets\/nyse\/today.aspx\">NYSE<\/a>: ZSL) is currently trading 0.70% higher at $11.47.<\/p>\n<p>More Posts by this author<\/p>\n<ul>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-updates\/stocks-rally-on-strong-apple-earnings\/25641\"><br \/>\nStocks Rally on Strong Apple Earnings<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-updates\/stocks-headed-for-a-strong-finish-21\/25638\"><br \/>\nStocks Headed for a Strong Finish<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/gold-prices-little-changed-silver-prices-edge-lower\/25633\"><br \/>\nGold Prices Little Changed; Silver Prices Edge Lower<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-updates\/stocks-continue-to-rally\/25624\"><br \/>\nStocks Continue to Rally<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-updates\/stocks-surge-in-early-trading-as-apple-earnings-lift-sentiments\/25594\"><br \/>\nStocks Surge in Early Trading as Apple Earnings Lift Sentiments<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/lorillard-lo-acquisition-of-blu-ecigs\/25574\"><br \/>\nLorillard &#8211; LO &#8211; Acquisition of blu ecigs<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/granite-gva-joint-venture-awarded-231-million-project-in-colorado\/25573\"><br \/>\nGranite &#8211; GVA &#8211; Joint-Venture Awarded $231 Million Project in Colorado<\/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 rebounded on Tuesday as euro gained against the dollar following successful debt sales in the Netherlands, even as [&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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