{"id":30723,"date":"2012-07-14T04:35:00","date_gmt":"2012-07-14T04:35:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-gain-amid-expectations-of-monetary-easing-from-china\/30719\/"},"modified":"2012-07-14T04:35:00","modified_gmt":"2012-07-14T04:35:00","slug":"gold-prices-gain-amid-expectations-of-monetary-easing-from-china","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/gold-prices-gain-amid-expectations-of-monetary-easing-from-china\/30723\/","title":{"rendered":"Gold Prices Gain amid Expectations of Monetary Easing from China"},"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:\/\/stockmarketwatch.com\/metal\/gold-price.aspx\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">Gold prices<\/a> ended higher on Friday, settling at $1,592 an ounce as hopes of another round of monetary easing from China gathered pace after the country\u2019s second-quarter GDP growth slowed down. China\u2019s second-quarter GDP grew at the slowest pace in more than three years.<\/p>\n<p><span id=\"more-30723\"><\/span><\/p>\n<p>A rally in global equities, oil and grains also lifted bullion\u2019s prices on Friday. Gold, although concerned as safe haven asset, has rather moved in tandem with other riskier assets this year.<\/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>Spot gold\u00a0settled up 1.2 percent at $1,589 an ounce, while U.S. gold futures\u00a0climbed up $26.70 an ounce on Friday to settle at $1,592.00.<\/p>\n<p>Earlier on Friday, gold received some boost when a report from China showed that economy in the second quarter grew by 7.6% down from 8.1% in the first quarter. In the recent past, whenever China\u2019s economic growth has shown some downturn, China\u2019s central bank promptly provided some economy stimulating measures.<\/p>\n<p>Later during the day, U.S. economic indicators also lifted expectations that the <a href=\"http:\/\/www.knowfinance.com\/federal-reserve-system-fed\/\" target=\"_blank\" rel=\"noopener\">Federal Reserve<\/a>, at least in the third quarter might ponder over fresh round of quantitative easing. While a data provided by Thomson Reuters and University of Michigan showed that consumer sentiment reading was at its lowest since December, the producer price index rose only marginally in June.<\/p>\n<p>This year, gold prices have been very sensitive to central banks\u2019 policy responses. In February, gold rallied, gaining 15% following <a href=\"http:\/\/www.knowfinance.com\/federal-reserve-system-fed\/\" target=\"_blank\" rel=\"noopener\">Federal Reserve<\/a>\u2019s statement that it intends to keep the benchmark interest rates at near zero levels until 2014. But as fed adopted less dovish approach since March amid series of stronger economic indicators, gold pared all its earlier gains. So far this year, gold is up 1.5%.<\/p>\n<p>Physical Gold Market Retreat After Some Buying<\/p>\n<p>The physical market side remained muted on Friday, as traders in India, world\u2019s biggest consumer of gold stayed on sidelines after metal prices recovered following China\u2019s GDP data announcement. Import demand from India has been very week this year.\u00a0 Orders from India dried up in March as the federal government suddenly raised import duties and excise duties on gold (these were latter slashed); then the Indian rupee started to sharply fall against the U.S. dollar amid deteriorating Indian economy and worsening trade balance, making imports more expensive and hurting the demand for gold.<\/p>\n<p>In its research notes, UBS bank wrote, \u00a0\u00a0\u201cUnless physical players and\/or opportune investors step in significantly at these levels, we see little standing in the way of further gold weakness in the near-term,&#8221; &#8220;In the absence of fresh catalysts, market participants have focused on technicals, and from this perspective, gold looks vulnerable to the downside,\u201d the note added.<\/p>\n<p>A data provided by Reuters shows that holdings of gold-backed\u00a0exchange-traded funds- those securities which are backed with physical stocks of bullion- fell for the third session on Thursday to 70.4 million ounces down 70.9 ounces in March.<\/p>\n<p>Furthermore, the largest gold-backed ETF, New York&#8217;s SPDR Gold Trust (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=GLD\" target=\"_blank\" rel=\"noopener\">NYSE: GLD<\/a>), witnessed an outflow of almost 10 tons so far in July.<\/p>\n<p>Moving onto some other precious metal markets\u2019 news, <a href=\"https:\/\/stockmarketwatch.com\/metal\/silver-price.aspx\" data-internallinksmanager029f6b8e52c=\"5\" title=\"silver price today\">silver<\/a> settled 0.55% higher, at $27 an ounce.<\/p>\n<p>The gold\/silver ratio\u2014a gauge on number of silver ounces required to buy an ounce of gold\u2014fell further after reaching to a two years high during last month as gold was outperformed by silver on Thursday, bucking the recent trend.<\/p>\n<p>According to UBS, investors\u2019 interest in silver was mainly driven by latest offering from the Spot Silver Trust.<\/p>\n<p>Spot platinum\u00a0also gained 1 percent, to close at $1,425 an ounce, while\u00a0spot palladium\u00a0settled higher 1.2 percent at $580 an ounce.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/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\/20120717055706\/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-gain-amid-expectations-of-monetary-easing-from-china%2F30723&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-end-lower-on-worries-over-the-economy\/30786\">\nStocks End Lower on Worries over the Economy<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/gold-prices-settle-lower-ahead-of-fed-chairmans-testimony-silver-prices-edge-higher\/30785\">\nGold Prices Settle Lower ahead of Fed Chairman\u2019s Testimony; 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Reports Second Quarter 2012 Earnings per Share of $0.95<\/a><\/li>\n\n\n\n<\/ul>\n\n\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\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 ended higher on Friday, settling at $1,592 an ounce as hopes of another round of monetary easing from [&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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