{"id":29201,"date":"2012-06-16T04:06:00","date_gmt":"2012-06-16T04:06:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-settle-higher-8\/29193\/"},"modified":"2012-06-16T04:06:00","modified_gmt":"2012-06-16T04:06:00","slug":"gold-prices-settle-higher-8","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/gold-prices-settle-higher-8\/29201\/","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> edged higher in trading on Friday, extending their gains to sixth straight trading session. Investors moved money into <a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">gold<\/a> to hedge their portfolio against uncertainty ahead of the Greek election this Sunday. Hopes of further monetary easing from the Federal Reserve also boosted <a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">gold prices<\/a> this week.<\/p>\n<p><span id=\"more-29201\"><\/span><\/p>\n<p><a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">Gold<\/a> prices rose nearly 2% for the week as weak U.S. economic data raised prospects of further monetary easing from the Federal Reserve. On Friday, a report from the Federal Reserve showed that industrial production fell in May. Meanwhile, consumer sentiment index for June also dipped.<\/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>On Friday, the European Central Bank also hinted at an interest rate cut, while the Bank of England also said that it was prepared to offer credit. Other central banks are also ready to boost liquidity in the financial market after the Greek election.<\/p>\n<p>Speaking to Reuters, James Steel, HSBC\u2019s chief commodity analyst, said that while the broad macroeconomic and political picture appears to be <a href=\"https:\/\/stockmarketwatch.com\/metal\/gold-price.aspx\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">gold<\/a>-friendly, investors are not likely to take substantial positions ahead of the Greek election. Steel said that should difficulties in funding fiscal positions materialize, investors could seek hard assets including gold.<\/p>\n<p>At last check, <a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">spot gold<\/a> was up 0.23% to $1,626 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 $8.50 higher at $1,628.10 an ounce.<\/p>\n<p>Andrey Kryuchenkov, analyst at VTB Capital, told Reuters on Friday that not many will dare take fresh longs ahead of the weekend given gold\u2019s peculiar behavior recently, when it swings back and forth with or against risk sentiment. Kryuchenkov said that gold should stall near this week\u2019s highs below $1,630 an ounce, with all attention on Greece and then the G20 summit next week.<\/p>\n<p>HSBC said in note on Friday that the next big event in the gold world is likely to be the Greek election and gold may be caught between the election and U.S. monetary expectations.<\/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 0.06% higher at $157.84, the Market Vectors ETF Trust (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=GDX\" target=\"_blank\" rel=\"noopener\">NYSE: GDX<\/a>) ended the day 0.02% lower at $46.92, and the iShares Gold Trust (ETF) (<a href=\"https:\/\/thestockmarketwatch.com\/markets\/nyse\/today.aspx\">NYSE<\/a>: IAU) ended the day 0.06% higher at $15.84.<\/p>\n<p><a href=\"https:\/\/thestockmarketwatch.com\/metal\/silver-price.aspx\">Silver prices<\/a> also edged higher in trading on Friday. At last check, <a href=\"https:\/\/thestockmarketwatch.com\/metal\/silver-price.aspx\">spot silver<\/a> was trading 0.45% higher at $28.72 an ounce. The gold\/<a href=\"https:\/\/thestockmarketwatch.com\/metal\/silver-price.aspx\">silver<\/a> ratio climbed towards its 2012 high this week.<\/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>) ended the day 0.04% lower at $27.81, 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 0.19% lower at $41.67, and the ProShares UltraShort Silver (ETF) (<a href=\"https:\/\/thestockmarketwatch.com\/markets\/nyse\/today.aspx\">NYSE<\/a>: ZSL) ended the day 0.13% lower at $63.05.<\/p>\n<p>Platinum group of metals slipped in trading on Friday. At last check, spot platinum was trading 0.32% lower at $1,481.75 an ounce, while spot palladium was trading $4.66 lower at $625.22 an ounce.<\/p>\n<p>Platinum prices have not really benefitted from threats to South African supply.<\/p>\n<p>Natixis said in a research report that platinum prices need to rise around $1,650 an ounce in order for South African platinum producers to be profitable. Natixis said that lower prices will lead to a protracted period of cutbacks and restricted development which will bring the market back into equilibrium via a slowdown in future supply.<\/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\/20120619173013\/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-19%2F29201&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\/stocks-extend-gains-on-fed-hopes\/29376\">\nStocks Extend Gains on Fed Hopes<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/global-expansion-fuels-marriott-earnings-growth-mar\/29357\">\nGlobal Expansion Fuels Marriott Earnings Growth &#8211; MAR<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/belden-inc-bdc-commenced-its-offer-to-acquire-all-of-the-outstanding-common-shares-of-miranda-technologies-inc\/29358\">\nBelden Inc. &#8211; BDC &#8211; Commenced its offer to acquire all of the outstanding common shares of Miranda Technologies Inc.<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/kkr-co-l-p-kkr-to-acquire-prisma-capital-partners\/29359\">\nKKR &amp; Co. L.P. &#8211; KKR &#8211; To Acquire Prisma Capital Partners<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/praxair-and-midrex-sign-strategic-alliance-to-commercialize-technology\/29360\">\nPraxair (PX) and Midrex Sign Strategic Alliance to Commercialize Technology<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/brookfield-office-properties-bpo-to-acquire-portfolio-of-office-buildings-in-city-of-london\/29361\">\nBrookfield Office Properties &#8211; BPO &#8211; To Acquire Portfolio of Office Buildings in City of London<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/zumiez-inc-zumz-acquires-blue-tomato\/29362\">\nZumiez Inc. &#8211; ZUMZ &#8211; Acquires Blue Tomato<\/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 edged higher in trading on Friday, extending their gains to sixth straight trading session. Investors moved money into [&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":[1967,1969,1970,2034,2035,2614],"class_list":["post-29201","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","tag-slv","tag-gdx","tag-iau","tag-agq","tag-zsl","tag-gldc"],"_links":{"self":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/29201","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=29201"}],"version-history":[{"count":0,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/29201\/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=29201"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/categories?post=29201"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/tags?post=29201"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}