{"id":26589,"date":"2012-05-08T08:01:00","date_gmt":"2012-05-08T08:01:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-ease-as-weakness-in-euro-weighs-on-metal-silver-prices-also-lower\/26587\/"},"modified":"2012-05-08T08:01:00","modified_gmt":"2012-05-08T08:01:00","slug":"gold-prices-ease-as-weakness-in-euro-weighs-on-metal-silver-prices-also-lower","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/gold-prices-ease-as-weakness-in-euro-weighs-on-metal-silver-prices-also-lower\/26589\/","title":{"rendered":"Gold Prices Ease as Weakness In Euro Weighs on Metal; Silver Prices Also 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> continued to trade lower on Tuesday as political stalemate following Greece post elections results renewed concerns over sovereign debt crisis, weighing on euro and weakening the market sentiment. Meanwhile, <a href=\"https:\/\/thestockmarketwatch.com\/metal\/silver-price.aspx\">silver prices<\/a> are also down today.<\/p>\n<p><span id=\"more-26589\"><\/span><\/p>\n<p>At last check, <a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">Spot gold<\/a><strong>\u00a0<\/strong>slid 0.1 percent to $1,636.20 an\u00a0ounce.\u00a0U.S. <a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">gold<\/a><strong>\u00a0<\/strong>also dropped 0.1 percent to $1,636.90.<\/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>Commenting over <a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">gold<\/a>\u2019s continued loses, Li Ning, an analyst at Shanghai CIFCO <a href=\"https:\/\/thestockmarketwatch.com\/markets\/commodities\/today.aspx\">Futures<\/a> said to Reuters-CNBC, \u201cThe sentiment in <a href=\"https:\/\/stockmarketwatch.com\/metal\/gold-price.aspx\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">gold<\/a> is likely to remain weak for a while, after the changes in European governments again triggered worries about the bloc&#8217;s debt crisis and pressure the euro.\u201d<\/p>\n<p>According to Li Ning, the plunge in oil prices, which lost 7% so far this month, is also one of the reasons behind gold\u2019s retreat as falling oil prices eased concerns over inflation thereby reducing some of the metal\u2019s appeal as a safe haven instrument.<\/p>\n<p>Bullion prices have been on a tight monthly spread for some time now. Since last two months, <a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">gold prices<\/a> hovered between $1620 an ounce and $1680 an ounce level as unfavorable macroeconomic indicators weighing on top and bargain hunting buying supporting prices at the lower end.<\/p>\n<p>\u201cWe see a small amount of physical buying on the downside,\u00a0and probably more buyers will emerge if prices drop to the $1,600 level,\u201d said one Hong Kong based trader to Reuters-CNBC.<\/p>\n<p>Meanwhile the demand for physical gold can pick up in short term as India\u2014world\u2019s biggest importer of gold- scrapped excise duties from Jewelry it imposed in March. However, weakness in Indian rupee could still curtail the demand.<\/p>\n<p>In its research note, ANZ bank wrote, \u201cThe doubling of the import duty (to 4 percent)\u00a0remains (in India) &#8211; and together with a weak INR (Indian rupee), the pent up demand market participants are expecting,\u00a0may still disappoint.\u201d<\/p>\n<p>Meanwhile, <a href=\"https:\/\/thestockmarketwatch.com\/metal\/silver-price.aspx\">silver<\/a> continued to its extend loses on Tuesday. At last check, <a href=\"https:\/\/thestockmarketwatch.com\/metal\/silver-price.aspx\">silver<\/a> lost 1.45%, at $29.68 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:\/\/stockmarketwatch.com\/metal\/silver-price.aspx\" data-internallinksmanager029f6b8e52c=\"5\" title=\"silver price today\">Silver<\/a> Trust (ETF) (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=SLV\">NYSE: SLV<\/a>) is down 1.06%, the ProShares Ultra Silver (ETF) (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=AGQ\">NYSE: AGQ<\/a>) is down 2.35%, and the ProShares UltraShort Silver (ETF) (<a href=\"https:\/\/thestockmarketwatch.com\/markets\/nyse\/today.aspx\">NYSE<\/a>: ZSL) is up 2.17%.<\/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\/walt-disney-announce-better-than-expected-results-shares-gain-dis\/26760\"><br \/>\nWalt Disney Announce Better Than Expected Results, Shares gain (DIS)<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/gold-prices-fall-below-psychological-1600-level-amid-heavy-trading\/26758\"><br \/>\nGold Prices Fall Below Psychological $1,600 Level Amid Heavy Trading<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-updates\/stocks-end-lower-on-euro-zone-worries-6\/26749\"><br \/>\nStocks End Lower on Euro Zone Worries<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-updates\/stocks-pare-losses-but-still-in-red\/26733\"><br \/>\nStocks Pare Losses but Still in Red<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/gold-prices-touch-1585-an-ounce-level-silver-prices-extend-losses\/26716\"><br \/>\nGold Prices Touch $1585 an Ounce Level; Silver Prices Extend Losses<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-updates\/stocks-lower-as-euro-zone-weakness-stokes-fear\/26715\"><br \/>\nStocks Lower as Euro-Zone Weakness Stokes Fear<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/hot-stocks-to-watch\/first-california-fcal-responds-to-pacwest-bancorps-unsolicited-proposal\/26705\"><br \/>\nFirst California &#8211; FCAL &#8211; Responds to PacWest Bancorp&#8217;s Unsolicited Proposal<\/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 continued to trade lower on Tuesday as political stalemate following Greece post elections results renewed concerns over sovereign [&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 center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"rank_math_schema_Article":[],"rank_math_focus_keyword":[],"rank_math_description":[],"financial_data_references":[],"stock_symbols_mentioned":[],"footnotes":""},"categories":[3],"tags":[1967,2034,2035],"class_list":["post-26589","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","tag-slv","tag-agq","tag-zsl"],"_links":{"self":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/26589","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/comments?post=26589"}],"version-history":[{"count":0,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/26589\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media\/50312"}],"wp:attachment":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media?parent=26589"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/categories?post=26589"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/tags?post=26589"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}