{"id":45364,"date":"2013-06-21T08:23:00","date_gmt":"2013-06-21T08:23:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-up-on-bargain-hunting-silver-prices-edge-down\/45359\/"},"modified":"2024-08-25T18:09:25","modified_gmt":"2024-08-25T18:09:25","slug":"gold-prices-up-on-bargain-hunting-silver-prices-edge-down","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/gold-prices-up-on-bargain-hunting-silver-prices-edge-down\/45364\/","title":{"rendered":"Gold Prices Up on Bargain Hunting, Silver Prices Edge Down"},"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> recovered a tad during Asian trading hours on Friday as bargain hunters from China pounced on the opportunity after the metal plunged to more than 2-\u00bd year low level in the preceding session. However, the precious metal is on course to log its worst weekly performance in almost two years, showed a data provided by Reuters. <a href=\"https:\/\/stockmarketwatch.com\/metal\/silver-price.aspx\" data-internallinksmanager029f6b8e52c=\"5\" title=\"silver price today\">Silver<\/a> prices, meanwhile, edged lower in early trading on Friday.<\/p>\n<p><span id=\"more-45364\"><\/span><\/p>\n<p>Bullion prices are now down about 23% from the beginning of this year. For the week, the metal has slumped more than 7%.<\/p>\n<p>At last check, U.S. gold futures for August delivery gained 0.61% to $1,294 an ounce while spot gold climbed 1.2% to $1,293.09 an ounce.<\/p>\n<p>Silver futures edged down 0.32% to $19.76 an ounce.<\/p>\n<p>The metal came under tremendous selling pressure on Thursday after the <a href=\"http:\/\/www.knowfinance.com\/federal-reserve-system-fed\/\" target=\"_blank\" rel=\"noopener\">Federal Reserve<\/a> signaled at possible winding up of economic stimulating measures by the year-end. Panic selling was triggered after the metal fell below 1,321 an ounce level&#8212; its lowest level when gold prices crashed in mid-April.<\/p>\n<p>Following the <a href=\"http:\/\/www.knowfinance.com\/category\/financial-crisis\/\" target=\"_blank\" rel=\"noopener\">financial crisis<\/a> of 2008\/09, the Fed\u2019s ultra loose monetary policy fuelled the demand for inflation-hedge bets with gold touching its all-time-high price of $1,920 an ounce in September 2011.<\/p>\n<p>However, lack of any inflationary pressure and the Fed\u2019s indication that the era of easy-money is coming to an end has rattled bullion investors, prompting them to cut positions on inflation-hedge bets.<\/p>\n<p>Speaking to Reuters, Joyce Liu, an investment analyst at Phillip Futures in Singapore said, \u201cWhat the market is undergoing now is a state of normalization, going back to pre-stimulus times.\u201d<\/p>\n<p>\u201cSince the first stimulus program, markets have jumped despite fundamentals not justifying such a spike,\u201d added Liu.<\/p>\n<p>Holdings of the SPDR Gold Trust (ETF) (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=GLD\" target=\"_blank\" rel=\"noopener\">NYSE: GLD<\/a>), the world\u2019s largest gold-backed exchange traded fund, fell another 0.4% to 995.35 tons on Thursday, showed a data\u00a0 provided by Reuters.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/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\/20130625015149\/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-up-on-bargain-hunting-silver-prices-edge-down%2F45364&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\/20130625015149js_\/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\/stocks-pare-losses-in-late-trading-but-still-finish-sharply-lower\/45426\">\nStocks Pare Losses in Late Trading But Still Finish Sharply Lower<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-fall-sharply-silver-prices-also-tumble-13\/45423\">\nGold Prices Fall Sharply; Silver Prices Also Tumble<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/shares-tumble-over-china-concerns\/45418\">\nStocks Tumble over China Concerns<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-plunge-in-early-trade\/45415\">\nStocks Plunge in Early Trade<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-u-s-dollar-mainly-higher\/45413\">\nForex Market Update; U.S. Dollar Mainly Higher<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-extend-losses-silver-prices-plunge-as-well-2\/45405\">\nGold Prices Extend Losses, Silver Prices Plunge as Well<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/u-s-stocks-futures-fall-sharply\/45403\">\nU.S. Stocks Futures Fall Sharply<\/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\/20130625015149im_\/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 recovered a tad during Asian trading hours on Friday as bargain hunters from China pounced on the opportunity 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