{"id":25824,"date":"2012-04-27T07:59:00","date_gmt":"2012-04-27T07:59:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-and-silver-prices-retreat-as-dollar-climbs\/25821\/"},"modified":"2012-04-27T07:59:00","modified_gmt":"2012-04-27T07:59:00","slug":"gold-and-silver-prices-retreat-as-dollar-climbs","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/gold-and-silver-prices-retreat-as-dollar-climbs\/25824\/","title":{"rendered":"Gold and Silver Prices Retreat as Dollar Climbs"},"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> pared Thursday\u2019s gains as Spain\u2019s economy slumped further into crisis with country\u2019s unemployment rate estimated at 24% even as the credit rating agency S&amp;P downgraded the country by two notches, citing concerns over Spain\u2019s inability to reduce its fiscal deficit. The renewed concerns over euro-zone\u2019s financial health weighed on the euro, pushing up the dollar.\u00a0 <a href=\"https:\/\/thestockmarketwatch.com\/metal\/silver-price.aspx\">Silver prices<\/a> have also edged lower in early trading.<\/p>\n<p><span id=\"more-25824\"><\/span><\/p>\n<p>Meanwhile, Japan\u2019s central bank also announced some further quantitative easing measures, putting the upward pressure on the dollar.<\/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>A dollar has an inverse relationship with <a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">gold<\/a>; strengthening dollar makes <a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">gold<\/a> expensive for traders who hold other currencies.<\/p>\n<p><a href=\"https:\/\/stockmarketwatch.com\/metal\/gold-price.aspx\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">Gold<\/a>, which has been mostly tracking other riskier assets like stocks and oil market, crossed $1,660 an ounce level on Thursday, as weaker dollar, upbeat housing data and fed\u2019s assurance on more monetary easing in case of economy deterioration, pushed up the prices of yellow metal.<\/p>\n<p>However, with the risk premium rising on Spain\u2019s debt, euro was quick to shed the gains on Thursday.<\/p>\n<p>The news come after euro zone economic sentiment fell more than expected in April.<\/p>\n<p>While <a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">Spot gold<\/a>\u00a0slid to $1,652.60 an ounce by 0622 GMT, on course for a 0.7-percent weekly gain though, U.S. gold\u00a0was trading at $1,653.30.<\/p>\n<p>According to Jeremy Friesen, commodity strategist at Societe Generale in Hong Kong, with rising economic uncertainty in the euro-zone, an accommodative monetary policy should help support gold sentiment, although a strong dollar could be a hurdle.<\/p>\n<p>Meanwhile, on gold\u2019s physical market front, trading interest was thin, as gold has failed to break beyond the range that it has held for over a month.<\/p>\n<p>Speaking to Reuters, one Singapore based dealer said \u201cWe saw some liquidation of long positions but overall not much is happening; People have become sick of trading in the same range.\u201d<\/p>\n<p>\u201cExpect physical buying interest to emerge if prices fall to the $1,620 level,\u201d he said to Reuters.<\/p>\n<p>Among other precious metals markets, <a href=\"https:\/\/thestockmarketwatch.com\/metal\/silver-price.aspx\">silver<\/a> slid 0.33%, at $31.105 an ounce. Spot platinum hit a weekly high at $1,568.74 an ounce before retreating at $1,560.24 an ounce.<\/p>\n<p>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 0.07% to $30.20, 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 down 0.18% to $49.99, and the ProShares UltraShort Silver (ETF) (<a href=\"https:\/\/thestockmarketwatch.com\/markets\/nyse\/today.aspx\">NYSE<\/a>: ZSL) is currently up 0.80% to $11.30.<\/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-prices-rise-sharply-as-u-s-economy-slows\/25941\"><br \/>\nGold Prices Rise Sharply as U.S. Economy Slows<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-updates\/stocks-end-higher-nasdaq-posts-best-weekly-gain-in-nearly-three-months\/25911\"><br \/>\nStocks End Higher; Nasdaq Posts Best Weekly Gain in Nearly Three Months<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-updates\/stocks-extend-gains-in-mid-day-trading-21\/25906\"><br \/>\nStocks Extend Gains in Mid-Day Trading<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/gold-prices-climb-above-1660-as-u-s-q1-gdp-falls-short-of-expectations-silver-prices-also-edge-higher\/25904\"><br \/>\nGold Prices Climb Above $1,660 as U.S. Q1 GDP Falls Short of Expectations; Silver Prices Also Edge Higher<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/amazon-reports-q1-results-amzn\/25902\"><br \/>\nAmazon Reports Q1 Results (AMZN)<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-updates\/stocks-hold-on-to-modest-gains\/25870\"><br \/>\nStocks Hold on to Modest Gains<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-updates\/stocks-flat-in-early-trading-3\/25851\"><br \/>\nStocks Flat in Early Trading<\/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 pared Thursday\u2019s gains as Spain\u2019s economy slumped further into crisis with country\u2019s unemployment rate estimated at 24% even [&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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