{"id":26401,"date":"2012-05-04T03:22:00","date_gmt":"2012-05-04T03:22:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-end-lower\/26363\/"},"modified":"2012-05-04T03:22:00","modified_gmt":"2012-05-04T03:22:00","slug":"gold-prices-end-lower","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/gold-prices-end-lower\/26401\/","title":{"rendered":"Gold Prices End 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> fell on Thursday as cautious investors wait for some cue from Friday\u2019s U.S. non-farm job data even as Thursday\u2019s job reports threw mixed signals. Whereas ISM non-manufacturing data showed that U.S. service sector created less jobs than estimated, reflecting fragility in the economic recovery; \u00a0weekly jobless claims fell short estimations.<\/p>\n<p><span id=\"more-26401\"><\/span><\/p>\n<p>U.S equities and other <a href=\"https:\/\/thestockmarketwatch.com\/markets\/commodities\/today.aspx\">commodities<\/a> also traded lower n Thursday putting pressure on <a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">gold<\/a>. Lately, the yellow metal has tracked riskier assets like equities, and oil markets.<\/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 href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">Spot gold<\/a>\u00a0ended lower by nearly 1 percent at $1,636.40 an ounce on Thursday.<\/p>\n<p>U.S. <a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">gold<\/a>\u00a0<a href=\"https:\/\/thestockmarketwatch.com\/markets\/commodities\/today.aspx\">futures<\/a><strong>\u00a0<\/strong>for June delivery slid more than 1 percent to settle at $1,634.80 an ounce.<\/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 1.01% lower at $158.97.<\/p>\n<p>Any weakness in the U.S. economy normally weighs on dollar, thereby increasing gold\u2019s investment appeal as opportunity cost to hold the metal reduces. However, the gains were limited as euro was quick to pare its earlier gains after ECB President failed to provide any encouraging comment over monetary easing measures like bond buying program, aimed at boosting deteriorating euro-zone economy.<\/p>\n<p>The ECB kept the benchmark interest rate unchanged at 1%. Despite the series of low <a href=\"https:\/\/thestockmarketwatch.com\/markets\/bonds\/today.aspx\">interest rates<\/a>, the euro-zone has continued to simmer under sever debt crisis.<\/p>\n<p>Spain, Europe\u2019s fourth largest economy witnessed its economic activities contracting in previous two quarters as country\u2019s most large banks struggle with maintain sufficient liquidity amid rising unemployment and falling investments.<\/p>\n<p>On Thursday, although both France and Spain successfully ended debt auctioning, the cost of borrowing soared for later.\u00a0 Experts now fear that debt contagion could spread in the Netherlands as country finds it difficult to adjust its high fiscal deficit amid recession.<\/p>\n<p>On Friday, after a series of mixed data on U.S economy, all eyes will be focused on April\u2019s non-farms jobs report. Gold investors are hoping that any weakness in the data might prompt the Federal Reserve to provide some kind of quantitative easing.<\/p>\n<p>\u201cThe focus for the next 24 hours will be the jobless report tomorrow, the (jobless) claims were a bit lower than expected and could have done some of the damage,\u201d said Ole Hensen, Vice President at SAxo bank to Reuters.<\/p>\n<p>Gold has been hovering between $1,630 and $1,670 an ounce since late February as fed\u2019s less dovish monetary policy weakened the investors\u2019 interest in the metal.<\/p>\n<p>So far this week gold lost 1.4%, touching its lowest on Thursday. The sharp retreat prompted many shorter-term speculators and longer-term investors to cut short their positions on the metal both in the <a href=\"https:\/\/thestockmarketwatch.com\/markets\/commodities\/today.aspx\">futures<\/a> market and in exchange traded funds (<a href=\"https:\/\/thestockmarketwatch.com\/markets\/etfs\/today.aspx\">ETFs<\/a>).<\/p>\n<p>According to a data provided by Reuters, holdings of gold in the world&#8217;s largest\u00a0ETFs\u00a0have plunge by nearly 1 million ounces after hitting a record high of 70.89 million ounces on March 16.<\/p>\n<p>Meanwhile, ETFs have lost 576,575 ounces of metal over three successive months, marking their heaviest \u00a0string of \u00a0net outflows since early 2010, when holdings dropped by 1.88 million ounces in three months.<\/p>\n<p>In some other precious metal markets,\u00a0<a href=\"https:\/\/thestockmarketwatch.com\/metal\/silver-price.aspx\">silver<\/a>\u00a0dropped 1.76 percent to close at $30.09 an ounce.<\/p>\n<p>Platinum\u00a0slid 1.73 percent on the day to settle at $1,529.99 an ounce, and\u00a0palladium<strong>\u00a0<\/strong>also edged down by 1.4 percent to end the day at $660.10 an ounce.<\/p>\n<p>According to a report on Thursday from metals consultancy Thomson Reuters GFMS, the palladium market registered its largest surplus in five years as strong supply from one of the biggest palladium suppliers -Russia along with outflows from exchange-traded funds offset a surge in demand from the auto-industry-which was at 11 year high.<\/p>\n<p>The surplus in the platinum market almost doubled last year to its highest in two years as the euro zone debt crisis weighed on the global economic growth, resulting into \u00a0a more volatile price environment that curtailed some investor demand for both metals.<\/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\/stocks-headed-for-a-sharply-lower-finish-6\/26642\"><br \/>\nStocks Headed for a Sharply Lower Finish<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-updates\/stocks-extends-losses-as-euro-zone-concerns-shake-market-sentiment\/26636\"><br \/>\nStocks Extends losses as Euro-zone Concerns Shake Market Sentiment<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/statoil-sto-production-grew-by-11\/26625\"><br \/>\nStatoil &#8211; STO &#8211; Production grew by 11%<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/hot-stocks-to-watch\/quality-distribution-qlty-pleased-with-the-companys-growth-in-earnings-this-quarter\/26624\"><br \/>\nQuality Distribution &#8211; QLTY &#8211; Pleased with the Company&#8217;s growth in earnings this quarter<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/guidewire-software-gwre-mitsui-direct-general-insurance-has-selected-gwre-as-its-new-claims-management-system\/26623\"><br \/>\nGuidewire Software &#8211; GWRE &#8211; Mitsui Direct General Insurance has selected GWRE as its new claims management system<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/hot-stocks-to-watch\/calamos-asset-management-clms-aum-for-the-quarter-increased-10-to-36-2-billion\/26622\"><br \/>\nCalamos Asset Management &#8211; CLMS &#8211; AUM for the quarter increased 10% to $36.2 billion<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/hot-stocks-to-watch\/carmike-cinemas-ckec-record-first-quarter-financial-results-in-many-key-metrics\/26621\"><br \/>\nCarmike Cinemas &#8211; CKEC &#8211; Record first quarter financial results in many key metrics<\/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 fell on Thursday as cautious investors wait for some cue from Friday\u2019s U.S. non-farm job data 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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