{"id":33084,"date":"2012-08-27T08:33:00","date_gmt":"2012-08-27T08:33:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-steady-after-bernankes-hint-at-qe3-silver-prices-gain\/33067\/"},"modified":"2012-08-27T08:33:00","modified_gmt":"2012-08-27T08:33:00","slug":"gold-prices-steady-after-bernankes-hint-at-qe3-silver-prices-gain","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/gold-prices-steady-after-bernankes-hint-at-qe3-silver-prices-gain\/33084\/","title":{"rendered":"Gold Prices Steady after Bernanke\u2019s Hint at QE3, Silver Prices Gain"},"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><a href=\"https:\/\/stockmarketwatch.com\/metal\/gold-price.aspx\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">Gold prices<\/a> held steady at just above 1,670 an ounce on Monday following <a href=\"http:\/\/www.knowfinance.com\/federal-reserve-system-fed\/\" target=\"_blank\" rel=\"noopener\">Federal Reserve<\/a> Chairman Ben Bernanke\u2019s hint at possible additional quantitative easing on Friday, rekindling gold\u2019s inflation hedge appeal. <a href=\"https:\/\/stockmarketwatch.com\/metal\/silver-price.aspx\" data-internallinksmanager029f6b8e52c=\"5\" title=\"silver price today\">Silver<\/a> prices, meanwhile, edged higher in early trading on Monday.<\/p>\n<p><span id=\"more-33084\"><\/span><\/p>\n<p>Earlier during the last week, spot gold climbed 3.4%, the biggest one day jump since early January and highest level since early May as investors\u2019 sentiment on gold picked up following the release of \u00a0minutes from Fed\u2019s latest FOMC, which hinted at further easing. Hopes of monetary easing have also been raised by Bernanke\u2019s comments in a letter dated August 22 to U.S. Rep. Darrel Issa, which was obtained by the Wall Street Journal.<\/p>\n<p>Investors will now keep a close eye on the Fed\u2019s annual symposium at Jackson Hole, Wyoming on Aug 31, hoping to gain some more insight on the central bank\u2019s plan to stimulate the economy.<\/p>\n<p>Meanwhile in Europe, the European Central Bank (ECB) is considering setting up a specific bonds yields target range for the highly indebted countries. Accordingly, should the yields jump over certain band, the ECB will swiftly move in to purchase bonds in order to keep soaring <a href=\"https:\/\/thestockmarketwatch.com\/markets\/bonds\/today.aspx\">interest rates<\/a> under control and discourage speculation.<\/p>\n<p>Nevertheless, the proposal was unwelcomed by Bundesbank, which stated it as \u201cdangerous drug\u201d even as one of the conservative allies of ruling government said that Greece should leave the monetary union by next year.<\/p>\n<p>Holdings In ETF\u2019s Soaring<\/p>\n<p>A data provided by Reuters showed that holdings in gold-backed-exchange-traded-funds rose above 71.4 million ounces during the last week which is a record high.<\/p>\n<p>According to U.S. Commodity Futures Trading Commission, speculators also increased their positions in U.S. gold futures and options to 140,126 lots in the week ended Aug. 21, the highest level since early May.<\/p>\n<p>At last check spot gold traded at $1,674.40 an ounce, having earlier touched $1,676.45 an ounce, a 4-1\/2-month high.<\/p>\n<p>U.S. gold futures were flat at $1,671.30 an ounce.<\/p>\n<p>Wang Tao, Reuters technical analyst suggests that gold can hit as high as $1,693 an ounce on Monday.<\/p>\n<p>Silver gained 0.62%, to $30.81 an ounce.<\/p>\n<p>In <a href=\"https:\/\/stockmarketwatch.com\/markets\/pre-market\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Premarket Movers\">pre-market trading<\/a>, the iShares Silver Trust (ETF) (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=SLV\" target=\"_blank\" rel=\"noopener\">NYSE: SLV<\/a>) was trading 0.87% higher, the ProShares Ultra Silver (ETF) (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock-AGQ\" target=\"_blank\" rel=\"noopener\">NYSE: AGQ<\/a>) was trading 1.71% higher at $47.63, and the ProShares UltraShort Silver (ETF) (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=ZSL\" target=\"_blank\" rel=\"noopener\">NYSE: ZSL<\/a>) was inactive.<\/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 = \"www2.thestockmarketwatch.com%2Fstock-market-news\";\n\t\tvar entity_decoded_nr_mp_url = jQuery('<span\/>').html(\"https:\/\/web.archive.org\/web\/20120829004749\/http:\/\/api.nrelate.com\/mpw_wp\/0.51.2\/?tag=nrelate_popular&domain=www2.thestockmarketwatch.com%2Fstock-market-news&url=http%3A%2F%2Fwww2.thestockmarketwatch.com%2Fstock-market-news%2Fgold-prices-steady-after-bernankes-hint-at-qe3-silver-prices-gain%2F33084&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=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-end-on-a-mixed-note-in-a-choppy-trading-session\/33208\">\nStocks End on a Mixed Note in a Choppy Trading Session<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-settle-lower-silver-prices-also-drop\/33207\">\nGold Prices Settle Lower; 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SFUN &#8211; Declares Cash Dividends To Shareholders<\/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:\/\/web.archive.org\/web\/20120829004749im_\/http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/userphoto\/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 held steady at just above 1,670 an ounce on Monday following Federal Reserve Chairman Ben Bernanke\u2019s hint at [&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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