{"id":26503,"date":"2012-05-05T03:05:00","date_gmt":"2012-05-05T03:05:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-rise-2\/26502\/"},"modified":"2012-05-05T03:05:00","modified_gmt":"2012-05-05T03:05:00","slug":"gold-prices-rise-2","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/gold-prices-rise-2\/26503\/","title":{"rendered":"Gold Prices Rise"},"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> gained on Friday as weaker than expected U.S. job market data impelled heavy selling in equity and other <a href=\"https:\/\/thestockmarketwatch.com\/markets\/commodities\/today.aspx\">commodities<\/a> markets amid rising concerns over series of lackluster economic indicators, burnishing metal\u2019s appeal as safe haven asset. Besides, expectations over further possible quantitative easing also helped <a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">gold<\/a> extend gains.<\/p>\n<p><span id=\"more-26503\"><\/span><\/p>\n<p>Nonetheless, the yellow metal still edged lower 0.6% for the week. <a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">Gold<\/a> has lost around $150 an ounce since late February as some better than expected economic indicators in March and April dashed hopes on third round of quantitative easing QE3 or bond buying program from fed, weighing on <a href=\"https:\/\/stockmarketwatch.com\/metal\/gold-price.aspx\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">gold<\/a>.<\/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>Expectations of some monetary easing following disappointing non-farms payrolls data are growing as the Federal Reserve after its Open Committee Meeting; two weeks ago, said that door was open for changes if the economy shows sign of a slowdown.<\/p>\n<p>Commenting over possibility of QE3 and gold\u2019s rebound, Axel Merk, chief investment officer of Merk Funds with about $650 million in assets said to Reuters, \u201cFed Chairman Ben Bernanke had said QE3 is going to be dependent on the incoming data. Next time when he speaks he&#8217;s going to reemphasize that the Fed is willing to do more\u201d.<\/p>\n<p>\u201cThat&#8217;s one of key reason why gold is up because we have had a very long period of consolidation,\u201d added Merk.<\/p>\n<p>Earlier on Friday, the U.S. Labor Department announced that employers added only 115,000 employees in April, a third successive month in which hiring has fallen short of expectations. Economists polled by Reuters were expecting an addition of 170,000 new jobs over the same period. Following the data crude oil prices plunged 4% even as <a href=\"https:\/\/thestockmarketwatch.com\/markets\/dowjones\/today.aspx\">Dow Jones<\/a> Industrial Average was knocked down, suffering triple digit loses.<\/p>\n<p><a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">Spot gold<\/a><strong>\u00a0<\/strong>edged up 0.4 percent at $1,643.20 an ounce. U.S. gold climbed up$10.40 an ounce at $1,645.20, however, the trading volume was about 10 percent below their 30-day average, according to data provided by Reuters.<\/p>\n<p>Euro-zone on Edge<\/p>\n<p>Meanwhile, gold\u2019s appeal as safe haven asset could also benefit from possible tumultuous weekend in the euro-zone. Both France and Greece go for polls on Sunday- results of which can cast doubts over monetary union\u2019s commitment over austerity dive.<\/p>\n<p>If Sunday\u2019s election results see Francois Hollande winning elections against his rival Nicolas Sarkozy, then the euro-zone could head towards a possible altercation on austerity dive.<\/p>\n<p>Hollande has promised to shift the debate in Europe towards promoting growth if he is elected. According to Hollande, the austerity drive has stalled the economic growth in the monetary union.\u00a0 Meanwhile, in Greece, widespread resentment against traditional political parties is growing as people are furious over economic hardships. Should mainstream parties are defeated in elections, then the country might plunge into new political chaos.<\/p>\n<p>On Friday, the mood was jittery in most equity markets in Europe with most stocks trading lower. \u00a0Euro-zone\u2019s non-manufacturing data on April showed that economic activities contracted in April, even as PMI data earlier in the week showed that manufacturing activities stalled in the region in the same period, threatening recession in the second quarter. Spain, Europe\u2019s fourth largest economy has already witnessed economic contraction in last two quarters, as country grapple with high unemployment rate amid liquidity crunch in its banking system and high fiscal deficit and severe spending cuts.<\/p>\n<p>In a note to investors UBS bank warned that \u201cEurope debt fears could potentially disrupt global markets and derail investor sentiment, but gold is poised to benefit due to intense in pressure on the euro\u201d.<\/p>\n<p>Physical gold buying; however, remains weak as weakness in India rupee curtailed the import from world\u2019s biggest consumer.<\/p>\n<p>The SPDR Gold Trust (ETF) (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=GLD\">NYSE: GLD<\/a>) ended the day 0.31% higher at $159.47.<\/p>\n<p>In some other precious metals markets, <a href=\"https:\/\/thestockmarketwatch.com\/metal\/silver-price.aspx\">silver<\/a>\u00a0edged up 1 percent at $30.35 an ounce.\u00a0Spot platinum\u00a0slid 0.3 percent to close at $1,522.50 an ounce, while\u00a0spot palladium\u00a0lost 1.1 percent to settle $648.47 an ounce.<\/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\/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 gained on Friday as weaker than expected U.S. job market data impelled heavy selling in equity and other 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