{"id":28223,"date":"2012-05-31T12:32:00","date_gmt":"2012-05-31T12:32:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-and-silver-prices-sharply-lower-2\/28213\/"},"modified":"2012-05-31T12:32:00","modified_gmt":"2012-05-31T12:32:00","slug":"gold-and-silver-prices-sharply-lower-2","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/gold-and-silver-prices-sharply-lower-2\/28223\/","title":{"rendered":"Gold and Silver Prices Sharply 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><!-- AddThis Button BEGIN --><\/p>\n<div class=\"addthis_toolbox addthis_default_style addthis_32x32_style\">\n<a class=\"addthis_button_preferred_1\"><\/a><br \/>\n<a class=\"addthis_button_preferred_2\"><\/a><br \/>\n<a class=\"addthis_button_preferred_3\"><\/a><br \/>\n<a class=\"addthis_button_preferred_4\"><\/a><br \/>\n<a class=\"addthis_button_compact\"><\/a><br \/>\n<a class=\"addthis_counter addthis_bubble_style\"><\/a>\n<\/div>\n<p><script type=\"text\/javascript\">var addthis_config = {\"data_track_addressbar\":true};<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/s7.addthis.com\/js\/250\/addthis_widget.js#pubid=pennystocksfinder\"><\/script><br \/>\n<!-- AddThis Button END --><\/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 in red territory on Thursday weighed by euro zone concerns even as lackluster U.S. economic data failed to arrest the slide. <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-28223\"><\/span><\/p>\n<p>The metal is now on course to drop almost 6% for May alongside posting losses for 4 straight months since January 2000.<\/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>At last check, <a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">Spot gold<\/a>\u00a0slid 0.6 percent at $1,553 an ounce and U.S. <a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">gold<\/a> <a href=\"https:\/\/thestockmarketwatch.com\/markets\/commodities\/today.aspx\">futures<\/a>\u00a0for August delivery slipped $6.50 an ounce at $1,559.20.<\/p>\n<p>Amid heightening debt crisis in the euro zone, surging borrowing costs in Spain and Italy together with deteriorating banking sector and possibility of Greece\u2019s departure from the currency bloc- the euro has bore the maximum brunt.<\/p>\n<p>The euro is on course for biggest monthly plunge in at least eight months, with some analysts expecting it to drop towards $1.20 in coming weeks as the euro zone&#8217;s debt crisis worsens.<\/p>\n<p><a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">Gold<\/a>, although considered as safe haven asset, moved in tandem with riskier assets this year.<\/p>\n<p>Commenting over <a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">gold prices<\/a> flip-flops, UBS, in its note wrote, \u201cInvestors don&#8217;t have the same strategic approach to <a href=\"https:\/\/stockmarketwatch.com\/metal\/gold-price.aspx\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">gold<\/a> as before, Instead of taking a multi-week or multi-month view, much of the exposure to gold has been on an intra-day bias of late. The market is too highly correlated with risk for many participants&#8217; liking.\u201d<\/p>\n<p>Gold demand from India- world\u2019s largest consumer of gold- remains muted as the tumbling rupee pushed up the cost for local buyers.<\/p>\n<p>However, central banks around the world have been keen to buy gold in a bid to diversify portfolio of reserves.<\/p>\n<p>According to IMF and Reuters, Russia, Mexico, and the Philippines have all recently added to their gold reserves, while the Turkish Central Bank said on Thursday it may gradually raise the upper limit of lira required reserves that can be held in gold to 30 percent from 20 percent.<\/p>\n<p>Among other precious metals,\u00a0<a href=\"https:\/\/thestockmarketwatch.com\/metal\/silver-price.aspx\">silver<\/a>\u00a0edged down 1.25 percent at $27.54 an ounce. Spot platinum\u00a0lost 0.1 percent at $1,394.74 an ounce, and spot palladium\u00a0fell 0.6 percent at $599.22 an ounce.<\/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\" target=\"_blank\" rel=\"noopener\">NYSE: SLV<\/a>) is currently trading 0.44% lower at $27, 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\" target=\"_blank\" rel=\"noopener\">NYSE: AGQ<\/a>) is currently trading 1% lower at $39.62, and the ProShares UltraShort Silver (ETF) (<a href=\"https:\/\/thestockmarketwatch.com\/markets\/nyse\/today.aspx\">NYSE<\/a>: ZSL) is currently trading 0.88% higher at $68.69.<\/p>\n<p><!-- AddThis Button BEGIN --><\/p>\n<div class=\"addthis_toolbox addthis_default_style addthis_32x32_style\">\n<a class=\"addthis_button_preferred_1\"><\/a><br \/>\n<a class=\"addthis_button_preferred_2\"><\/a><br \/>\n<a class=\"addthis_button_preferred_3\"><\/a><br \/>\n<a class=\"addthis_button_preferred_4\"><\/a><br \/>\n<a class=\"addthis_button_compact\"><\/a><br \/>\n<a class=\"addthis_counter addthis_bubble_style\"><\/a>\n<\/div>\n<p><script type=\"text\/javascript\">var addthis_config = {\"data_track_addressbar\":true};<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/s7.addthis.com\/js\/250\/addthis_widget.js#pubid=pennystocksfinder\"><\/script><br \/>\n<!-- AddThis Button END --><\/p>\n<p>More Posts by this author<\/p>\n<ul>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/gm-reports-11-surge-in-sales-for-may-biggest-leap-since-august-2009\/28334\"><br \/>\nGM Reports 11% Surge in Sales for May, Biggest Leap Since August 2009<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/gold-prices-leap-4-post-biggest-1-day-gain-in-3-years\/28333\"><br \/>\nGold Prices Leap 4%, Post Biggest 1 Day Gain in 3 Years<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/stocks-end-sharply-lower-2\/28332\"><br \/>\nStocks End Sharply Lower<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/stocks-headed-for-a-sharply-lower-finish-9\/28309\"><br \/>\nStocks Headed for a Sharply Lower Finish<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/gold-and-silver-prices-in-green-7\/28297\"><br \/>\nGold and Silver Prices in Green<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/u-s-equities-hammered-after-dismal-u-s-job-report\/28296\"><br \/>\nU.S. Equities Hammered After Dismal U.S. Job Report<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/splunk-inc-splk-first-quarter-was-a-strong-start-to-fiscal-2013\/28280\"><br \/>\nSplunk Inc. &#8211; SPLK &#8211; First quarter was a strong start to fiscal 2013<\/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 in red territory on Thursday weighed by euro zone concerns even as lackluster U.S. economic [&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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