{"id":40580,"date":"2013-01-24T08:42:00","date_gmt":"2013-01-24T08:42:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-down-silver-prices-plunge\/40472\/"},"modified":"2013-01-24T08:42:00","modified_gmt":"2013-01-24T08:42:00","slug":"gold-prices-down-silver-prices-plunge","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/gold-prices-down-silver-prices-plunge\/40580\/","title":{"rendered":"Gold Prices Down, Silver Prices Plunge"},"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> edged lower during Asian trading hours on Thursday as improving global economic indicators from around the world and rally in equity markets, in the recent past, is weighing on safe haven bids. <a href=\"https:\/\/thestockmarketwatch.com\/metal\/silver-price.aspx\">Silver prices<\/a>, meanwhile, plunged in early trading on Thursday.<\/p>\n<p><span id=\"more-40580\"><\/span><\/p>\n<p>At around 6:30 a.m. EST, gold futures for February delivery edged down 0.53% to $1,677.80 an ounce while spot gold fell 0.43% to $1,678.20 an ounce.<\/p>\n<p>On Thursday, HSBC\u2019s preliminary purchasing manager index (PMI) showed that manufacturing activity in the world\u2019s second largest economy expanded at a fastest pace since last two years in January, reemphasizing that Chinese economy was recovering after stagnating for most part of 2012.<\/p>\n<p>Earlier in January, a data release from China\u2019s National Bureau of Statistics showed that GDP in the fourth quarter of 2012 rose at a 7.9%, snapping the trend of slower economic growth in previous seven successive quarters.<\/p>\n<p>In the U.S, as expected, the Republican dominated House of Representatives approved the extension of the debt ceiling limit through May 18<sup>th<\/sup>, adding more pressure on gold\u2019s safe haven appeal. Bullion, in general, tends to gain in the environment of macroeconomic uncertainty.<\/p>\n<p>Moreover, the precious metal\u2019s consistent failure to breach the psychological $1,700 an ounce level is also prompting investors to remain in sidelines.<\/p>\n<p>Meanwhile bullion investors will also keep a very close eye on the <a href=\"http:\/\/www.knowfinance.com\/federal-reserve-system-fed\/\" target=\"_blank\" rel=\"noopener\">Federal Reserve<\/a>\u2019s policy rate meeting, which is scheduled for next week. Investors will expect the central bank to throw some more light on its ongoing quantitative easing measures. Fed\u2019s 4 rounds of quantitative easing has been the key driving force behind gold\u2019s bull runs since 2008, when property bubble burst and subsequent credit crisis forced the central bank to adopt a very loose monetary policy.<\/p>\n<p>\u201cWe have the FOMC (Federal Open Market Committee) and non-farm payrolls data, which could shake this market out of its technical trading doldrums,\u201d said a Singapore-based trader while speaking to Thomson Reuters.<\/p>\n<p><a href=\"https:\/\/stockmarketwatch.com\/metal\/silver-price.aspx\" data-internallinksmanager029f6b8e52c=\"5\" title=\"silver price today\">Silver<\/a> futures plunged 1.69% to $31.89 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 down 1.12%, the ProShares Ultra Silver (ETF) (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=AGQ\" target=\"_blank\" rel=\"noopener\">NYSE: AGQ<\/a>) was down 1.96%, and the ProShares UltraShort Silver (ETF) (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=ZSL\" target=\"_blank\" rel=\"noopener\">NYSE: ZSL<\/a>) was up 2.41%.<\/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\/20130126133031\/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-down-silver-prices-plunge%2F40580&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<script id=\"mNCC\" language=\"javascript\">  medianet_width='600';  medianet_height= '250';  medianet_crid='814932888';  <\/script>  <script id=\"mNSC\" src=\"https:\/\/web.archive.org\/web\/20130126133031js_\/http:\/\/contextual.media.net\/nmedianet.js?cid=8CUT71M67\" language=\"javascript\"><\/script> \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\/oshkosh-boosts-2013-earnings-guidance-shares-rally-almost-19-osk\/40695\">\nOshkosh Boosts 2013 Earnings Guidance, Shares Rally Almost 19% (OSK)<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-fall-as-safe-haven-appeal-weighed-down-by-improving-euro-zone-economy\/40694\">\nGold Prices Fall as Safe Haven Appeal Weighed Down by Improving Euro Zone Economy<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/market-update-after-hours-january-25\/40692\">\nMarket Update After Hours January 25<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-end-higher-sp-500-closed-above-1500\/40673\">\nStocks End Higher; 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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\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\"\nsrc=\"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 lower during Asian trading hours on Thursday as improving global economic indicators from around the world and 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