{"id":41684,"date":"2013-02-20T03:03:00","date_gmt":"2013-02-20T03:03:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-edge-lower-feds-minutes-eyed\/41678\/"},"modified":"2013-02-20T03:03:00","modified_gmt":"2013-02-20T03:03:00","slug":"gold-prices-edge-lower-feds-minutes-eyed","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/gold-prices-edge-lower-feds-minutes-eyed\/41684\/","title":{"rendered":"Gold Prices Edge Lower, Fed\u2019s Minutes Eyed"},"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:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">Gold prices<\/a> edged lower on Tuesday to settle just above $1,600 an ounce level as multi-year high S&amp;P index, unexpectedly strong business sentiment data from the European growth engine, Germany, along with dousing concerns over competitive currencies devaluations&#8212; weighed on metal\u2019s safe haven appeal.<\/p>\n<p><span id=\"more-41684\"><\/span><\/p>\n<p>On Tuesday, U.S. <a href=\"https:\/\/stockmarketwatch.com\/metal\/gold-price.aspx\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">gold<\/a> futures for April delivery fell $5.30 an ounce to close at $1,604.20 while spot gold edged down more than 0.30% to settle under $1,605 an ounce.<\/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 0.26% lower at $155.35.<\/p>\n<p>With equities soaring to multi-year highs (the <a href=\"https:\/\/stockmarketwatch.com\/markets\/sp500\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&amp;P 500<\/a> Index climbed to a five year high on Tuesday) in the backdrop of improving macroeconomic environment across the world coupled with rising M&amp;A activities in the recent past, global investors are finding hardly any incentive to put money on safe haven bets \u00a0when riskier assets are performing strongly year-to-date.<\/p>\n<p>Germany\u2019s ZEW Index, a gauge on business sentiment climbed to 48.2 in February, way above economists\u2019 forecast of 35, underpinning the fact that euro zone economy is now rebounding after stagnating for almost 3 years due to debt and banking crisis. All major benchmark indexes rallied in Europe on Tuesday.<\/p>\n<p>\u201cInvestors continue to buy racier assets such [as] equities rather than gold and <a href=\"https:\/\/stockmarketwatch.com\/metal\/silver-price.aspx\" data-internallinksmanager029f6b8e52c=\"5\" title=\"silver price today\">silver<\/a>,\u201d wrote Fawad Razaqzada, technical analyst at GFT Markets, in a note to clients.<\/p>\n<p>Earlier in January the European Central bank (ECB) had said that hundreds of banks that borrowed money at the height of the banking crisis in the euro zone were lining up to return money, a sign of stabilizing financial markets in the region while abatement of the \u2018debt crisis\u2019 has also doused fears over the breakup of the euro zone.<\/p>\n<p>Moreover, fading concerns over \u2018currency war\u2019 following the G20 Summit where finance ministers and central bankers backed market-driven exchange rate mechanism and played down the recent uproar over Japanese yen devaluation also&#8211; put pressure on metal\u2019s currency hedge appeal.<\/p>\n<p>\u201cYou are seeing gold become an asset that investors no longer need to jump in on because the fact that these currencies are not going any time soon. So, the currency hedge is reduced markedly,\u201d said Adam Sarhan, chief executive of Sarhan Capital in a note to investors.<\/p>\n<p>Fearing possible competitive currencies devaluations after the Japanese yen plunged sharply against rival currencies as a result of unprecedented monetary easing; gold investors mainly remained in sidelines waiting to get a clear picture from G20 leaders.<\/p>\n<p>In the backdrop, gold investment appeal is fading and it seems that the 12 straight years of bull runs will finally end in 2013. Year-to-date the metal is down over 3%.<\/p>\n<p>Now all eyes will be on the <a href=\"http:\/\/www.knowfinance.com\/federal-reserve-system-fed\/\" target=\"_blank\" rel=\"noopener\">Federal Reserve<\/a>\u2019s latest minutes, scheduled to be released on Wednesday.\u00a0 The minutes are likely to throw more light on the Fed\u2019s views on ongoing monetary easing measures. The Fed\u2019s Quantitative easing has been the key driving force behind gold\u2019s strong performance in last two years.<\/p>\n<p>In some other precious metal markets, silver futures for March delivery slumped 1.4% or 43 cents to end at $29.42 an ounce.<\/p>\n<p>Palladium for March delivery gained $11, or 1.5%, to close at $764.15 an ounce, while April platinum\u00a0climbed $19.80, or 1.2%, to settle at $1,697.50 an ounce.<\/p>\n<p>PGM prices have been rallying latelyas the outlook on global industrial production is improving. Both platinum and palladium are used as auto-catalysts.<\/p>\n<p>In a weekly research report released on Tuesday, analysts at ETF Securities wrote, \u201cThe fundamentals for platinum-group metals \u201cremain strong: mine disruptions in South Africa and Zimbabwe and dwindling state stockpiles in Russia have constrained supply while robust car sales in the U.S. and China are increasing demand for the metals.\u201d<\/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\/20130222052138\/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-edge-lower-feds-minutes-eyed%2F41684&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\/20130222052138js_\/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\/market-update-after-hours-february-21\/41809\">\nMarket Update After Hours February 21<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-finish-lower-for-a-second-consecutive-day\/41808\">\nStocks Finish Lower for a Second Consecutive Day<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-euro-falls-against-dollar-and-yen\/41800\">\nForex Market Update: Euro Falls Against Dollar and Yen<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-bounce-back-silver-prices-also-gain\/41798\">\nGold Prices Bounce Back; Silver Prices also Gain<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-headed-for-a-second-straight-lower-finish-4\/41796\">\nStocks Headed for a Second Straight Lower Finish<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/hormel-lifts-full-year-guidance-hrl\/41795\">\nHormel Lifts Full-Year Guidance (HRL)<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/pegasystems-shares-rally-as-q4-earnings-comfortably-beat-estimate-pega\/41794\">\nPegasystems Shares Rally as Q4 Earnings Comfortably Beat Estimate (PEGA)<\/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\/20130222052138im_\/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 on Tuesday to settle just above $1,600 an ounce level as multi-year high S&amp;P index, unexpectedly [&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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