{"id":26191,"date":"2012-05-02T08:27:00","date_gmt":"2012-05-02T08:27:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-and-silver-prices-edge-lower-3\/26182\/"},"modified":"2012-05-02T08:27:00","modified_gmt":"2012-05-02T08:27:00","slug":"gold-and-silver-prices-edge-lower-3","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/gold-and-silver-prices-edge-lower-3\/26191\/","title":{"rendered":"Gold and Silver Prices Edge 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> edged lower on Wednesday as upbeat data on U.S. PMI dashed any hopes of possible quantitative easing even as euro-zone manufacturing activities contracted in April, putting pressure on euro. <a href=\"https:\/\/thestockmarketwatch.com\/metal\/silver-price.aspx\">Silver prices<\/a> have also edged lower in trading today.<\/p>\n<p><span id=\"more-26191\"><\/span><\/p>\n<p><a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">Spot gold<\/a>\u00a0slid 0.2 percent to $1,659.06 an ounce by 0317 GMT, after climbing up to $1,671.20 in on Tuesday. U.S. <a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">gold<\/a>\u00a0edged lower 0.1 percent to $1,660.2.<\/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>Following recent spate of discouraging data on the U.S. economy, the Institute of Supply Management released factory output data for April on Monday-which showed pace of manufacturing activities was fastest in preceding ten months.<\/p>\n<p>Stronger economic indicators will lessen the need for the U.S.\u00a0Federal Reserve<strong>\u00a0<\/strong>to ease its monetary policy, thereby denting investors\u2019 appetite in bullion which benefits from low real <a href=\"https:\/\/thestockmarketwatch.com\/markets\/bonds\/today.aspx\">interest rates<\/a>.<\/p>\n<p>Now, <a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">gold<\/a> investors are keeping a close eye on U.S. non-farms job data, slated to be released on Friday. Meanwhile, the European Central Bank\u2019s decision on <a href=\"https:\/\/thestockmarketwatch.com\/markets\/bonds\/today.aspx\">interest rates<\/a> on Thursday along with weekend election results from France and Greece are also likely to influence the market sentiment. On Tuesday, Australia\u2019s central bank surprisingly cut the benchmark interest rate, which put the pressure on Australian dollar, pushing up the U.S. unit.<\/p>\n<p>\u201cInvestors are standing on the sidelines of the market, waiting for the uncertainty around U.S. economy, euro zone and QE3 (third round of quantitative easing by the Fed) to clear up, said one Hong Based dealer to CNBC-Reuters.<\/p>\n<p>Commenting over <a href=\"https:\/\/stockmarketwatch.com\/metal\/gold-price.aspx\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">gold<\/a>\u2019s performance in the short-run, Nick Trevethan, senior metals strategist at ANZ in Singapore, said to Reuters, \u201cGold will probably be sitting in limbo for a few more\u00a0 days, It (gold) is rather inversely sensitive to positive numbers, as evidenced by the ISM number overnight.\u201d<\/p>\n<p>Meanwhile, SPDR Gold Trust, the world&#8217;s biggest gold-backed exchange-traded fund, said its holdings fell for a second successive day to a three-month low of 1,274.09 tons by May 1.<\/p>\n<p><a href=\"https:\/\/thestockmarketwatch.com\/metal\/silver-price.aspx\">Silver<\/a>, at last check was sliding 0.3%, trading at $30.86 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 down 0.86% to $29.80, 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 down 1.25% to $48.98, and the ProShares UltraShort Silver (ETF) (<a href=\"https:\/\/thestockmarketwatch.com\/markets\/nyse\/today.aspx\">NYSE<\/a>: ZSL) is up 1.86% to $11.52.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/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\/gildan-activewear-gil-to-acquire-100-of-the-common-shares-of-anvil-holdings\/26338\"><br \/>\nGildan Activewear &#8211; GIL &#8211; To acquire 100% of the common shares of Anvil Holdings<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/kensey-nash-corporation-knsy-dsm-has-agreed-to-acquire-all-of-the-common-stock-of-kensey-nash\/26337\"><br \/>\nKensey Nash Corporation &#8211; KNSY &#8211; DSM has agreed to acquire all of the common stock of Kensey Nash<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/johnson-johnson-china-investment-ltd-jnj-acquired-guangzhou-bioseal-biotech\/26336\"><br \/>\nJohnson &amp; Johnson (China) Investment Ltd. &#8211; JNJ &#8211; Acquired Guangzhou Bioseal Biotech<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/hot-stocks-to-watch\/cimarex-energy-xec-reports-first-quarter-2012-results\/26335\"><br \/>\nCimarex Energy &#8211; XEC &#8211; Reports First-Quarter 2012 Results<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/hot-stocks-to-watch\/western-refining-wnr-pleased-with-first-quarter-results-and-the-positive-momentum\/26334\"><br \/>\nWestern Refining &#8211; WNR &#8211; Pleased with first quarter results and the positive momentum<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/hot-stocks-to-watch\/swift-energy-company-sfy-focused-on-improving-operational-efficiencies-and-reducing-costs\/26333\"><br \/>\nSwift Energy Company &#8211; SFY &#8211; Focused on improving operational efficiencies and reducing costs<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/hot-stocks-to-watch\/equity-one-eqy-pleased-with-the-operating-performance-of-core-business\/26332\"><br \/>\nEquity One &#8211; EQY &#8211; Pleased with the operating performance of core business<\/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 edged lower on Wednesday as upbeat data on U.S. PMI dashed any hopes of possible quantitative easing 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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