{"id":26891,"date":"2012-05-11T12:47:00","date_gmt":"2012-05-11T12:47:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-hit-four-month-low-silver-prices-down-more-than-1\/26876\/"},"modified":"2012-05-11T12:47:00","modified_gmt":"2012-05-11T12:47:00","slug":"gold-prices-hit-four-month-low-silver-prices-down-more-than-1","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/gold-prices-hit-four-month-low-silver-prices-down-more-than-1\/26891\/","title":{"rendered":"Gold Prices Hit Four Month Low; Silver Prices Down More than 1%"},"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 slide on Friday, touching its four month low as ongoing uncertainty over euro-zone debt and Spanish banking crisis, prompted investors to seek refuge in safer assets like dollars, U.S. treasuries thereby putting pressure on euro and precious metals, even as U.S. consumer confidence index rose surprisingly to a 4 year high in May reducing chances of any sort of quantitative easing measures. <a href=\"https:\/\/thestockmarketwatch.com\/metal\/silver-price.aspx\">Silver prices<\/a> are also down sharply in trading today.<\/p>\n<p><span id=\"more-26891\"><\/span><\/p>\n<p>On Thursday, the euro hit a 31\/2 month low against the dollar as edgy investors cut their exposure to euro. Investors are anxious as they ponder how the ongoing chaos in Greece would end? Will the struggling peripheral economy exit from the monetary union or will the new coalition government-if it is formed \u2013adhere to bailout pact?<\/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 Spain-Europe\u2019s fourth biggest economy- is trying to clean up the mess from its struggling banking industry. On Friday, the Government of Spain announced that it will hire outside advisers to review the health of local banks and force them to set aside an additional \u20ac30 billion to cover losses, a move seen as an attempt to boost investors\u2019 confidence towards Spain.<\/p>\n<p>In U.S. a data on consumer sentiment for May showed that U.S consumers were optimistic bucking economists forecast for a decline<\/p>\n<p>At last check, <a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">spot gold<\/a><strong>\u00a0<\/strong>edged down to $1,573.29 an ounce, its weakest since Jan. 3, after support gave way at $1,579, and was down 0.8 percent at $1,581.40 an ounce<\/p>\n<p>Reacting over <a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">gold<\/a>\u2019s slide and possible support range for next few days, Afshin Nabavi, head of trading at MKS Finance said, to Reuters, \u201cThe markets are not happy at all, <a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">Gold<\/a> still feels a bit too heavy. With this move down, physical demand is not all that great. It feels like it may test the lower side around 1550 first, before bouncing back up again.\u201d<\/p>\n<p>In some other precious metals markets, <a href=\"https:\/\/thestockmarketwatch.com\/metal\/silver-price.aspx\">silver<\/a> lost 1.4 percent at $28.58 an ounce, tracking losses in <a href=\"https:\/\/stockmarketwatch.com\/metal\/gold-price.aspx\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">gold<\/a>.<\/p>\n<p>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 currently trading 0.74% lower at $28.04, 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 currently trading 1.38% lower at $43, and the ProShares UltraShort Silver (ETF) (<a href=\"https:\/\/thestockmarketwatch.com\/markets\/nyse\/today.aspx\">NYSE<\/a>: ZSL) is currently trading 1.13% higher at $64.57.<\/p>\n<p>Spot platinum slid 1.4 percent at $1,459.75 an ounce, while\u00a0spot palladium\u00a0lost 0.9 percent at $604.75 an ounce<\/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\/jp-morgan-shares-tumble-on-trading-losses-bank-downgraded-a-notch-by-fitch-jpm\/26955\"><br \/>\nJP Morgan Shares Tumble on Trading Losses, Bank Downgraded a Notch By Fitch  (JPM)<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/gold-prices-end-lower-euro-concerns-weigh\/26954\"><br \/>\nGold Prices End Lower, Euro Concerns Weigh<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-updates\/stocks-end-on-a-mixed-note-dow-jones-posts-worst-weekly-performance-for-2012\/26951\"><br \/>\nStocks End on a Mixed Note; Dow Jones Posts Worst Weekly Performance for 2012<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-updates\/stocks-headed-for-a-mixed-finish-13\/26914\"><br \/>\nStocks Headed for a Mixed Finish<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/gold-prices-hit-four-month-low-silver-prices-down-more-than-1\/26891\"><br \/>\nGold Prices Hit Four Month Low; Silver Prices Down More than 1%<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/polycom-plcm-to-divest-its-enterprise-wireless-voice-solutions-business\/26872\"><br \/>\nPolycom &#8211; PLCM &#8211; To Divest Its Enterprise Wireless Voice Solutions Business<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-updates\/u-s-stocks-edge-higher-after-strong-economic-data\/26889\"><br \/>\nU.S. Stocks Edge Higher After Strong Economic Data<\/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 slide on Friday, touching its four month low as ongoing uncertainty over euro-zone debt and Spanish [&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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