{"id":41035,"date":"2013-02-04T08:43:00","date_gmt":"2013-02-04T08:43:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-fall-silver-prices-plunge-over-1\/41031\/"},"modified":"2013-02-04T08:43:00","modified_gmt":"2013-02-04T08:43:00","slug":"gold-prices-fall-silver-prices-plunge-over-1","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/gold-prices-fall-silver-prices-plunge-over-1\/41035\/","title":{"rendered":"Gold Prices Fall; Silver Prices Plunge Over 1%"},"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 Monday as metal\u2019s investment allure is waning fast in the wake of improving economic indicators and better performing riskier assets. <a href=\"https:\/\/thestockmarketwatch.com\/metal\/silver-price.aspx\">Silver prices<\/a> also fell sharply in early trading on Monday.<\/p>\n<p><span id=\"more-41035\"><\/span><\/p>\n<p>Gold\u2019s inflation-hedge appeal has also taken a beating as investors doubt whether the <a href=\"http:\/\/www.knowfinance.com\/federal-reserve-system-fed\/\" target=\"_blank\" rel=\"noopener\">Federal Reserve<\/a> will be inclined to keep its monetary policy accommodating as the U.S. economy gains momentum whilst inflation continues to remain under target.<\/p>\n<p>At around 6:15 a.m. EST, gold futures for most active February delivery 0.32% to $1,665.30 while spot gold slipped o.1% to $1,664.86 an ounce. <a href=\"https:\/\/stockmarketwatch.com\/metal\/silver-price.aspx\" data-internallinksmanager029f6b8e52c=\"5\" title=\"silver price today\">Silver<\/a> futures plunged 1.01% to $31.635 an ounce.<\/p>\n<p>Earlier on Friday, gold prices settled higher logging weekly gains as across-the-board rally in equity markets, and weaker dollar provided some support to the metal. Nevertheless, gains remained capped as series of solid macroeconomic data fanned fears that central bank might now be pressed to relook at its ongoing monthly $85 billion worth bond purchase program.<\/p>\n<p>The non-farm payrolls climbed by 157,000 in January, according to the Labor Department\u2014a tad short of economists\u2019 forecast for 160,000. Besides Reuters\/ University of Michigan\u2019s revised consumer sentiment index, the ISM index on factory orders and construction spending data were all better than expected.<\/p>\n<p>\u201cInvestors remain fairly optimistic in the U.S. recovery, which makes gold less attractive, even though recent data is rather a mixed bag,\u201d said Chen Min, an analyst at Jinrui Futures in the southern Chinese city of Shenzhen, according to Thomson Reuters.<\/p>\n<p>Min also warned that unless there wasn\u2019t any unexpected good news for gold, its prices are likely to hover in the tight range of $1,660-$1,680 an ounce.<\/p>\n<p>Platinum group metals, in the meantime, continue to perform strongly in the backdrop of improving global industrial outlook. On Friday, an economic data release from the U.S. showed that automobile sales climbed 14% in January from the same period of last year. Both platinum and palladium are used as auto-catalysts.<\/p>\n<p>Investors\u2019 faith on gold backed exchange traded funds fading<\/p>\n<p>A data provided Thomson Reuters showed that SPDR Gold Trust (ETF) (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=GLD\" target=\"_blank\" rel=\"noopener\">NYSE: GLD<\/a>), world\u2019s largest gold-backed exchange traded fund, recorded an outflow of 22.728 tons in January, its biggest monthly outflow since last July.<\/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\/20130206084726\/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-fall-silver-prices-plunge-over-1%2F41035&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\/20130206084726js_\/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\/disney-reports-q1-results-dis\/41149\">\nDisney Reports Q1 Results (DIS)<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-slip-improving-economic-outlook-undermining-safe-haven-appeal\/41147\">\nGold Prices slip, Improving Economic Outlook Undermining Safe Haven Appeal<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/market-update-after-hours-february-5\/41138\">\nMarket Update After Hours February 5<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-euro-bounces-back-after-mondays-drop\/41136\">\nForex Market Update: Euro Bounces Back After Monday\u2019s Drop<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-rebound-after-mondays-sell-off\/41135\">\nStocks Rebound after Monday\u2019s Sell-Off<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-settle-lower-following-two-straight-sessions-of-gains-silver-prices-gain\/41130\">\nGold Prices Settle Lower Following Two Straight Sessions of Gains; Silver Prices Gain<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-bounce-back-after-mondays-sell-off\/41128\">\nStocks Bounce Back after Monday\u2019s Sell-Off<\/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\/20130206084726im_\/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\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 Monday as metal\u2019s investment allure is waning fast in the wake [&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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