{"id":26236,"date":"2012-05-02T12:41:00","date_gmt":"2012-05-02T12:41:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-and-silver-prices-slip\/26229\/"},"modified":"2012-05-02T12:41:00","modified_gmt":"2012-05-02T12:41:00","slug":"gold-and-silver-prices-slip","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/gold-and-silver-prices-slip\/26236\/","title":{"rendered":"Gold and Silver Prices Slip"},"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> were falling towards $1,650 an ounce as dollar bounced back following euro-zone\u2019s PMI data for April showed manufacturing activities performed worse than expected, heralding a possibility of recession in the second quarter. <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-26236\"><\/span><\/p>\n<p>At last check, <a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">Spot gold<\/a><strong>\u00a0<\/strong>was down 0.5 percent at $1,653.86 an ounce, while\u00a0U.S. <a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">gold<\/a> <a href=\"https:\/\/thestockmarketwatch.com\/markets\/commodities\/today.aspx\">futures<\/a><strong>\u00a0<\/strong>slid $3.10 an ounce at $1,659.30<\/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>Meanwhile, comments of several fed officials showing satisfaction over monetary policy dashed any further hopes of quantitative easing thereby putting pressure on <a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">gold<\/a>.<\/p>\n<p>The metal has traded on a very tight monthly spread for last two months, remaining firmly in the range of $1,620 and $1,670 an ounce.<\/p>\n<p>Commenting over <a href=\"https:\/\/stockmarketwatch.com\/metal\/gold-price.aspx\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">Gold<\/a>\u2019s failure to surpass the narrow range, Pradeep Unni, analyst at Richcomm Global Services said to Reuters, \u201cWith economic data throwing mixed signals, it is most likely that gold will continue to wobble in a narrow range, at least until there is clarity on the jobs front.\u201d<\/p>\n<p>BNP Paribas has cut its forecast for both gold and <a href=\"https:\/\/thestockmarketwatch.com\/metal\/silver-price.aspx\">silver<\/a> in 2012. Bank\u2019s revised \u00a0average gold\u2019s price stands at $1,715 an ounce, <a href=\"https:\/\/thestockmarketwatch.com\/metal\/silver-price.aspx\">silver<\/a> average price is expected at $33.10 an ounce.<\/p>\n<p>The bank said that fading expectations of any further quantitative easing led to cuts in its previous forecasts. \u201c(Our economists&#8217;) central scenario is now for further Fed monetary accommodation to be implemented only in the fourth quarter instead of June\u201d, wrote bank in its note.<\/p>\n<p>\u201cThis change has significant implications for our <a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">gold price<\/a> forecasts (and by extension for our <a href=\"https:\/\/thestockmarketwatch.com\/metal\/silver-price.aspx\">silver price<\/a> forecasts), given gold&#8217;s tight positive relation with the level of market liquidity\u201d, the bank added.<\/p>\n<p>Among some other precious metals markets<strong>, <\/strong><a href=\"https:\/\/stockmarketwatch.com\/metal\/silver-price.aspx\" data-internallinksmanager029f6b8e52c=\"5\" title=\"silver price today\">silver<\/a>\u00a0was sliding 1.2 percent at $30.58 an ounce.\u00a0 Silver\u2019s underperformance lifted the gold\/silver ratio, which measures the number of silver ounces needed to buy an ounce of gold, to 3-1\/2 month highs.<\/p>\n<p>The iShares Silver Trust (ETF) (<a href=\"https:\/\/thestockmarketwatch.com\/markets\/nyse\/today.aspx\">NYSE<\/a>: SLV) is currently trading 1.40% lower at $29.64, the ProShares Ultra Silver (ETF) (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=AGQ\">NYSE: AGQ<\/a>) is currently trading 2.84% lower at $48.19, and the ProShares UltraShort Silver (ETF) (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=ZSL\">NYSE: ZSL<\/a>) is currently trading 2.83% higher at $11.63.<\/p>\n<p>Spot platinum\u00a0was also shedding 0.5 percent at $1,557.94 an ounce, while\u00a0palladium\u00a0was losing 0.7 percent at $670.72.<\/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\/market-updates\/futures-point-to-a-higher-opening-18\/26303\"><br \/>\nFutures Point to a Higher Opening<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/gold-and-silver-prices-in-red-2\/26300\"><br \/>\nGold and Silver Prices in Red<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/comcast-q1-earnings-soar-30-percent-cmcsa\/26294\"><br \/>\nComcast Q1 Earnings Soar 30 Percent (CMCSA)<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/gold-prices-settle-higher-11\/26292\"><br \/>\nGold Prices Settle Higher<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-updates\/stocks-end-on-a-mixed-note-31\/26263\"><br \/>\nStocks End on a Mixed Note<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-updates\/stocks-mixed-in-late-trading-6\/26255\"><br \/>\nStocks Mixed in Late Trading<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/hot-stocks-to-watch\/surewest-communications-surw-strong-broadband-business-and-residential-revenue-growth-during-the-quarter\/26243\"><br \/>\nSureWest Communications &#8211; SURW &#8211; Strong Broadband business and residential revenue growth during the quarter<\/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 were falling towards $1,650 an ounce as dollar bounced back following euro-zone\u2019s PMI data for April showed manufacturing [&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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