{"id":29123,"date":"2012-06-15T03:52:00","date_gmt":"2012-06-15T03:52:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-settle-higher-7\/29121\/"},"modified":"2012-06-15T03:52:00","modified_gmt":"2012-06-15T03:52:00","slug":"gold-prices-settle-higher-7","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/gold-prices-settle-higher-7\/29123\/","title":{"rendered":"Gold Prices Settle Higher"},"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> settled higher in trading on Thursday, gaining for a fifth day in a row as weak economic data in the U.S. raised prospects of further monetary easing from the Federal Reserve.<\/p>\n<p><span id=\"more-29123\"><\/span><\/p>\n<p>A report released by the Labor Department showed that initial jobless claims rose unexpectedly to 386,000 last week. Meanwhile, consumer prices fell 0.3% in the month of May. The weaker than expected economic data has once again raised hopes of monetary easing.<\/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>Speaking to Reuters, James Steel, metals analyst at HSBC, said that the data out on Thursday reignited the possibility of further U.S. easing and that is supportive to <a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">gold<\/a>. Steel said that the market has been characterized with a lot of volatility due to market speculations about Federal Reserve monetary easing.<\/p>\n<p><a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">Gold<\/a> was also lifted by ongoing worries over the euro zone debt crisis. On Thursday, yields on 10-year Spanish <a href=\"https:\/\/thestockmarketwatch.com\/markets\/bonds\/today.aspx\">bonds<\/a> surged to a euro-era high. Italian borrowing costs also rose sharply on Thursday. The upcoming Greek election is also keeping investors on edge.<\/p>\n<p>Commenting on the impact Greek election could have on <a href=\"https:\/\/stockmarketwatch.com\/metal\/gold-price.aspx\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">gold<\/a>, RBS analyst Nikos Kavalis told Reuters on Thursday that the result of the vote will be very important not just to gold but across the whole financial markets next week. Kavalis said that if we get a disappointment, we can expect a massive sell-off across the board, but if we get a good result we wont necessarily have a massive rally.<\/p>\n<p>With the ongoing turmoil in the euro zone, even German Bund, considered a safe have asset, is coming under pressure. In a research note, UBS said that German bund yields have been rising, behaving more like periphery <a href=\"https:\/\/thestockmarketwatch.com\/markets\/bonds\/today.aspx\">bonds<\/a> rather than safe haven. UBS said that spread versus UK gilts has narrowed substantially this week.<\/p>\n<p>UBS said that while it is too early to conclude that German bunds are losing their safe haven status, such a scenario would mean investors would be on the lookout for new secure places to park their money.<\/p>\n<p><a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">Spot gold<\/a> rose 0.45% to $1,624.39 an ounce. Gold <a href=\"https:\/\/thestockmarketwatch.com\/markets\/commodities\/today.aspx\">futures<\/a> for delivery in August on the Comex division of the New York Mercantile Exchange settled $0.20 higher at $1,619.60 an ounce.<\/p>\n<p><a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">Gold prices<\/a> have risen nearly 2% so far this week on monetary easing hopes. Physical demand for gold also remains robust, especially from China. The world\u2019s second largest economy is set to overtake India as the biggest consumer of gold.<\/p>\n<p>Earlier this week, Kazakhstan\u2019s central also said that it plans to increase the share of gold in its currency reserve. The move from the Kazakh central bank has fueled speculation that other emerging market economies will also boost their gold reserves due to risks in major reserve currencies.<\/p>\n<p>The SPDR Gold Trust (ETF) (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=GLD\" target=\"_blank\" rel=\"noopener\">NYSE: GLD<\/a>) ended the day 0.39% higher at $157.75, the Market Vectors ETF Trust (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=GDX\" target=\"_blank\" rel=\"noopener\">NYSE: GDX<\/a>) ended the day 0.26% higher at $46.93, and the iShares Gold Trust (ETF) (<a href=\"https:\/\/thestockmarketwatch.com\/markets\/nyse\/today.aspx\">NYSE<\/a>: IAU) ended the day 0.38% higher at $15.83.<\/p>\n<p>In other precious metals, <a href=\"https:\/\/thestockmarketwatch.com\/metal\/silver-price.aspx\">silver<\/a> fell sharply on Thursday. At last check, <a href=\"https:\/\/thestockmarketwatch.com\/metal\/silver-price.aspx\">spot silver<\/a> was down 1.04% to $28.63 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\/markets\/nyse\/today.aspx\">NYSE<\/a>: SLV) ended the day 0.68% lower at $27.82, and 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>) ended the day 1.32% lower at $41.75.<\/p>\n<p>The ProShares UltraShort Silver (ETF) (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=ZSL\" target=\"_blank\" rel=\"noopener\">NYSE: ZSL<\/a>), which takes a short position on silver, ended the day 1.38% higher at $63.13.<\/p>\n<p>Platinum group of metals rose sharply on Thursday. At last check, spot platinum was trading 2.18% higher at $1,491.24 an ounce, and spot palladium was trading 2.29% higher at $631.47 an ounce.<\/p>\n<div class=\"nr_clear\"><\/div>\n<div id=\"nrelate_popular_2\" class=\"nrelate nrelate_popular nrelate_default nr_1col nr_text\"><\/div>\n<p>\t<!--[if IE 6]>\n\t\t<script type=\"text\/javascript\">jQuery('.nrelate_default').removeClass('nrelate_default');<\/script>\n\t<![endif]--><\/p>\n<p>\t<script type=\"text\/javascript\">\n\t\/* <![CDATA[ *\/\n\t\tnRelate.domain = \"thestockmarketwatch.com%2Fstock-market-news\";\n\t\tvar entity_decoded_nr_mp_url = jQuery('<span\/>').html(\"https:\/\/web.archive.org\/web\/20120616144334\/http:\/\/api.nrelate.com\/mpw_wp\/0.51.2\/?tag=nrelate_popular&domain=thestockmarketwatch.com%2Fstock-market-news&url=http%3A%2F%2Fthestockmarketwatch.com%2Fstock-market-news%2Fgold-prices-settle-higher-18%2F29123&nr_div_number=2&maxageposts=7200&increment=1\").text();\n\t\tnRelate.getNrelatePosts(entity_decoded_nr_mp_url);\n\t\/* ]]&gt; *\/\n\t<\/script>\n\n\n<div class=\"nr_clear\"><\/div>\n\n\n\n\n<!-- AddThis Button BEGIN -->\n\n\n<div class=\"addthis_toolbox addthis_default_style addthis_32x32_style\">\n<a class=\"addthis_button_preferred_1\"><\/a>\n<a class=\"addthis_button_preferred_2\"><\/a>\n<a class=\"addthis_button_preferred_3\"><\/a>\n<a class=\"addthis_button_preferred_4\"><\/a>\n<a class=\"addthis_button_compact\"><\/a>\n<a class=\"addthis_counter addthis_bubble_style\"><\/a>\n<\/div>\n\n\n<script type=\"text\/javascript\">var addthis_config = {\"data_track_addressbar\":true};<\/script>\n<script type=\"text\/javascript\" src=\"http:\/\/s7.addthis.com\/js\/250\/addthis_widget.js#pubid=pennystocksfinder\"><\/script>\n<!-- AddThis Button END -->\n\n\n\n\n<p>More Posts by this author<\/p>\n\n\n\n<ul>\n\n\n\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/gold-prices-settle-higher-19\/29201\">\nGold Prices Settle Higher<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/stocks-end-sharply-higher-for-a-second-straight-day\/29169\">\nStocks End Sharply Higher for a Second Straight Day<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/stocks-continue-to-rally-2\/29166\">\nStocks Continue to Rally<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/cinedigm-digital-cinema-cidm-fiscal-2012-marked-a-successful-strategic-transformation-of-the-company\/29148\">\nCinedigm Digital Cinema &#8211; CIDM &#8211; Fiscal 2012 marked a successful strategic transformation of the Company<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/wabtec-wab-acquires-mors-smitt\/29147\">\nWabtec &#8211; WAB &#8211; Acquires Mors Smitt<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/gold-and-silver-prices-hold-on-to-gains-3\/29160\">\nGold and Silver Prices Hold on to Gains<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/investors-bancorp-isbc-to-acquire-marathon-banking-corporation-from-piraeus-bank-s-a\/29146\">\nInvestors Bancorp &#8211; ISBC &#8211; To Acquire Marathon Banking Corporation from Piraeus Bank S.A.<\/a><\/li>\n\n\n\n<\/ul>\n\n\n\n\n<hr>\n\n\n\n\n\n<table style=\"border:none;margin:0;\">\n\n\n<tr>\n\n\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\n\n\n\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n\n\n<div style=\"font-size:11pt;\"><b>Post Written By: Ed Liston <\/b><\/div>\n\n\n\n\n<div style=\"font-size:10pt;\">\n\n\nEd 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<\/div>\n\n\n<\/td>\n\n<\/tr>\n\n<\/table>\n\n\n\n\n\n\n<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>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script>\n\n\t\t\t\t\t\t\n\n\t\n\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\n\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold prices settled higher in trading on Thursday, gaining for a fifth day in a row as weak economic data 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