{"id":42901,"date":"2013-03-22T15:01:00","date_gmt":"2013-03-22T15:01:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-edge-lower-as-cyprus-bailout-concerns-eased-silver-prices-fall-sharply\/42900\/"},"modified":"2013-03-22T15:01:00","modified_gmt":"2013-03-22T15:01:00","slug":"gold-prices-edge-lower-as-cyprus-bailout-concerns-eased-silver-prices-fall-sharply","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/gold-prices-edge-lower-as-cyprus-bailout-concerns-eased-silver-prices-fall-sharply\/42901\/","title":{"rendered":"Gold Prices Edge Lower as Cyprus Bailout Concerns Eased; Silver Prices Fall Sharply"},"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> pared initial gains to end lower on Friday as concerns over financial system meltdown in Cyprus eased considerably after the Cypriot Parliament convened an emergency meeting (on Friday), to discuss EU proposal over the bailout deal. <a href=\"https:\/\/thestockmarketwatch.com\/metal\/silver-price.aspx\">Silver prices<\/a>, meanwhile, fell sharply on Friday.<\/p>\n<p><span id=\"more-42901\"><\/span><\/p>\n<p>In addition, news that Greece was ready to buy out local units of affected Cypriot banks also dispelled investors\u2019 concerns, according to Reuters.<\/p>\n<p>At last check, U.S. <a href=\"https:\/\/stockmarketwatch.com\/metal\/gold-price.aspx\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">gold<\/a> futures for April delivery edged down 0.5% to $1,605.80 an ounce while spot gold lost 0.42% to $1,607.30 an ounce. <a href=\"https:\/\/stockmarketwatch.com\/metal\/silver-price.aspx\" data-internallinksmanager029f6b8e52c=\"5\" title=\"silver price today\">Silver<\/a> futures slumped 1.91% to $28.655 an ounce.<\/p>\n<p>Earlier on Thursday the European Union warned Cyprus to reach a bailout deal within next four days (by Monday) or else the financial aid package will be cancelled. The warning fanned fears of possible exit of Cyrus from the euro zone, boosting the demand for safe-haven bets. On Friday, during Asian trading hours, gold extended gains from its three-month high, hit in the previous session after the news emerged that talks between Russia and Cyprus failed, putting an end to speculation that teetering financial system of Cyprus will get some lifeline from Moscow.<\/p>\n<p>However, the metal pared gains after Cypriot Parliament held special meeting\u2014a move seen as last ditch effort to save the country from going through financial system meltdown. Still, the metal is on course to post biggest weekly gains in last two months.<\/p>\n<p>Meanwhile, holdings of SPDR Gold Trust (ETF) (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=GLD\" target=\"_blank\" rel=\"noopener\">NYSE: GLD<\/a>), the world&#8217;s largest gold backed exchange traded fund, dropped\u00a0 0.902 tons from the previous session to 1,221.26 tons on March 21, the lowest level since July 2011, a data provided by Reuters showed.<\/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\/20130323235813\/http:\/\/api.nrelate.com\/mpw_wp\/0.51.4\/?tag=nrelate_popular&domain=www2.thestockmarketwatch.com%2Fstock-market-news&url=http%3A%2F%2Fwww2.thestockmarketwatch.com%2Fstock-market-news%2Fgold-prices-edge-lower-as-cyprus-bailout-concerns-eased-silver-prices-fall-sharply%2F42901&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\/20130323235813js_\/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\/boeing-to-lay-off-800-employees-by-the-year-end-ba\/42909\">\nBoeing to Lay off 800 Employees by the Year End (BA)<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/microns-gross-margin-improves-q2-revenue-beat-estimate-shares-rally-mu\/42907\">\nMicron&#8217;s Gross Margin Improves, Q2 Revenue Beat Estimate, Shares Rally (MU)<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-end-sharply-higher-13\/42903\">\nStocks End Sharply Higher<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-edge-lower-as-cyprus-bailout-concerns-eased-silver-prices-fall-sharply\/42901\">\nGold Prices Edge Lower as Cyprus Bailout Concerns Eased; Silver Prices Fall Sharply<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/u-s-stocks-steady-european-stocks-shed-losses-to-turn-higher\/42899\">\nU.S. Stocks Steady, European Stocks Shed Losses to Turn Higher<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-cyprus-bailout-crisis-german-economic-data-put-pressure-on-euro\/42894\">\nForex Market Update: Cyprus Bailout Crisis, German Economic Data Put Pressure on Euro<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/u-s-stocks-edge-higher-as-cyprus-bailout-concerns-ease\/42891\">\nU.S. Stocks Edge Higher as Cyprus Bailout Concerns Ease<\/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\/20130323235813im_\/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 pared initial gains to end lower on Friday as concerns over financial system meltdown in Cyprus eased considerably 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