{"id":36577,"date":"2012-10-27T03:36:00","date_gmt":"2012-10-27T03:36:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-end-marginally-lower-2\/36566\/"},"modified":"2012-10-27T03:36:00","modified_gmt":"2012-10-27T03:36:00","slug":"gold-prices-end-marginally-lower-2","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/gold-prices-end-marginally-lower-2\/36577\/","title":{"rendered":"Gold Prices End Marginally 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><a href=\"https:\/\/stockmarketwatch.com\/metal\/gold-price.aspx\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">Gold prices<\/a> pared its initial small gains to end marginally lower on Friday as overall sentiment continued to remain bleak in the backdrop of upcoming U.S. Presidential elections, ambiguity over the so-called \u2018fiscal-cliff\u2019 and\u00a0 falling quarterly profits from some of the world\u2019s biggest companies on either side of the Atlantic.<\/p>\n<p><span id=\"more-36577\"><\/span><\/p>\n<p>Spot bullion has now dipped for third successive week; after peaking at $1,795.69 an ounce earlier in October.<\/p>\n<p>On Friday, spot gold inched lower to close at $1,710.85 an ounce while U.S. gold futures for December delivery slipped 0.1% to settle at $1,711 an ounce. A data provided by Reuters showed that trading volume was on course to end below its 30 day moving average.<\/p>\n<p>Earlier on Friday, gold prices ticked marginally higher after U.S. GDP data release showed that world\u2019s largest economy grew by 2% in the fiscal third quarter even as analysts polled by Reuters had forecasted GDP growth of 1.91%.<\/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 0.05% lower at $165.94.<\/p>\n<p>Nevertheless, the better-than-expected GDP data failed to excite the market as investors are treading with caution ahead of the U.S. Presidential elections. The other cause of concern is the looming threat of massive spending cuts and increase in taxes if the lawmakers in Washington fail to reach over an agreement for bringing control on fiscal profligacy by the year end.<\/p>\n<p>Until then it seems very likely that the momentum in the bullion market will remain elusive.<\/p>\n<p>Speaking to Reuters over absence of sufficient factors that drive gold prices, Jeffrey Sica, chief investment officer at SICA Wealth, which manages more than $1 billion in assets said, \u201cI don&#8217;t believe gold is able to rally off of that (GDP) data for now. Gold is a momentum asset and its momentum is not there right now.\u201d<\/p>\n<p>However, the yellow metal is up 10% YTD and is on course to post gains for twelfth consecutive year.<\/p>\n<p>The other factor which is weighing on bullion is the report which said that Ben Bernanke is not keen to extend his term for third occasion even if President Obama wins November 6 elections.<\/p>\n<p>Looking back at Mr. Bernanke\u2019s two terms at the office as a <a href=\"http:\/\/www.knowfinance.com\/federal-reserve-system-fed\/\" target=\"_blank\" rel=\"noopener\">Federal Reserve<\/a>\u2019s Chairman, it is very evident that his policies have been extremely accommodating in the wake of <a href=\"http:\/\/www.knowfinance.com\/category\/financial-crisis\/\" target=\"_blank\" rel=\"noopener\">financial crisis<\/a> and subsequent recession. Analysts fear that without Mr. Bernanke, the monetary easing and the period of ultra low interest rates will be greatly reduced.<\/p>\n<p>\u201cWithout Bernanke, monetary stimulus from the Federal Reserve could be greatly reduced, and that will weigh on the price of gold,\u201d commented Jeffrey Sica.<\/p>\n<p>Meanwhile, the euro zone continues to worry global investors. During this week series of economic data emanating from the troubled monetary union, pointed towards lack of hope in businesses and possible contraction of the economy in the fiscal fourth quarter. Euro zone\u2019s preliminary manufacturing data for October, the Ifo Index (which is gauge on business confidence in Germany), and GDP data release from Spain all pointed towards further stagnation in the economy, weighing on the euro and gold prices. Besides, the ambiguity surrounding Spain\u2019s decision over sovereign bailout continues to keep investors edgy.<\/p>\n<p>While the environment of uncertainty, typically, augurs well for gold prices as investors seek safety in safe haven assets; this year, it was altogether different since the metal mainly tracked the U.S. dollar, commodities and equity markets, which in turn capped gold\u2019s gains.<\/p>\n<p>Moving onto some other precious metal markets, <a href=\"https:\/\/stockmarketwatch.com\/metal\/silver-price.aspx\" data-internallinksmanager029f6b8e52c=\"5\" title=\"silver price today\">silver<\/a> futures for December delivery inched lower 0.1% to end at $32.04 an ounce. Platinum fell 1.2$ to settle at $1,541 an ounce and palladium lost 1% to close at $595 an ounce.<\/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 = \"www2.thestockmarketwatch.com%2Fstock-market-news\";\n\t\tvar entity_decoded_nr_mp_url = jQuery('<span\/>').html(\"https:\/\/web.archive.org\/web\/20121030012710\/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-end-marginally-lower-2%2F36577&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\/brooks-automation-brks-to-acquire-crossing-automation-inc\/36631\">\nBrooks Automation &#8211; BRKS &#8211; To Acquire Crossing Automation Inc.<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/riverbed-rvbd-to-acquire-opnet-opnt\/36629\">\nRiverbed\u00ae &#8211; RVBD &#8211; To acquire OPNET (OPNT)<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/commvault-cvlt-double-digit-revenue-and-non-gaap-operating-income-growth\/36616\">\nCommVault &#8211; CVLT &#8211; Double-digit revenue and non-GAAP operating income growth<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/cna-financial-cna-quarterly-dividend-of-0-15-per-share\/36615\">\nCNA Financial &#8211; CNA &#8211; Quarterly Dividend of $0.15 Per Share<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/hain-celestial-hain-strategic-acquisition-in-the-united-kingdom\/36614\">\nHain Celestial &#8211; HAIN &#8211; Strategic Acquisition In The United Kingdom<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/mod-pac-mpac-receives-proposal-from-its-chairman-of-the-board-and-its-president-and-ceo-to-acquire-the-company\/36613\">\nMOD-PAC &#8211; MPAC- Receives Proposal From Its Chairman of the Board and Its President and CEO to Acquire the Company<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/clean-harbors-clh-to-acquire-safety-kleen\/36612\">\nClean Harbors &#8211; CLH &#8211; To Acquire Safety-Kleen<\/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\/20121030012710im_\/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 pared its initial small gains to end marginally lower on Friday as overall sentiment continued to remain bleak [&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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