{"id":45378,"date":"2013-06-21T15:00:00","date_gmt":"2013-06-21T15:00:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-price-end-slightly-higher-but-logs-worst-weekly-performance-in-almost-2-years-silver-prices-also-gain\/45375\/"},"modified":"2024-08-25T18:09:24","modified_gmt":"2024-08-25T18:09:24","slug":"gold-price-end-slightly-higher-but-logs-worst-weekly-performance-in-almost-2-years-silver-prices-also-gain","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/gold-price-end-slightly-higher-but-logs-worst-weekly-performance-in-almost-2-years-silver-prices-also-gain\/45378\/","title":{"rendered":"Gold Price End Slightly Higher but Logs Worst Weekly Performance in almost 2 Years; Silver Prices Also Gain"},"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> settled higher on Friday after plunging to more than two and half year low level in the previous session; nonetheless, the metal has clocked worst weekly performance in almost two years after the <a href=\"http:\/\/www.knowfinance.com\/federal-reserve-system-fed\/\" target=\"_blank\" rel=\"noopener\">Federal Reserve<\/a> signaled that the era of easy-money could come to an end by the second half of the next year. <a href=\"https:\/\/stockmarketwatch.com\/metal\/silver-price.aspx\" data-internallinksmanager029f6b8e52c=\"5\" title=\"silver price today\">Silver<\/a> prices also edged higher in trading on Friday.<\/p>\n<p><span id=\"more-45378\"><\/span><\/p>\n<p>Gold futures for August delivery gained $5.80 or 0.5% to $1,292.00 an ounce while spot gold was last up 1.44% to $1,296.10 an ounce.<\/p>\n<p>Earlier during Asian trading hours, gold prices staged a slight comeback as bargain hunting ensued after yesterday\u2019s tumultuous trading in which the metal plunged more than 5%. Demand mainly came from the world\u2019s second largest gold consumer, China.<\/p>\n<p>Moreover, relatively stable global equity and commodity markets also helped the metal to find some support.<\/p>\n<p>Gold Prices were knocked off on Thursday after the <a href=\"http:\/\/www.knowfinance.com\/federal-reserve-system-fed\/\" target=\"_blank\" rel=\"noopener\">Federal Reserve<\/a> said that it could start winding down its bond purchase program towards the end of this year and completely halt it by the second half of the next year, should the U.S. economic indicators continued to show signs of improvement.<\/p>\n<p>However, any gains for gold in the near future look unlikely given the fact that there is no inflationary pressure even as the Fed appears to have adopted more hawkish stance.<\/p>\n<p>\u201cBullion will seek to consolidate near current lows, but there is little chance for a sustained rebound\u2026We had little evidence of physical buying\u2014spooked market participants will stay away,\u201d said VTB Capital analyst Andrey Kryuchenkov, according to Reuters.<\/p>\n<p>\u201cInflation is subdued, seasonal Asian demand is yet to pick up, the greenback is stronger, the opportunity cost of holding gold will start gaining soon,\u201d added Kryuchenkov.<\/p>\n<p>Silver futures were last up 1.02% to $20 an ounce.<\/p>\n<p>In late trading, the iShares Silver Trust (ETF) (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=SLV\" target=\"_blank\" rel=\"noopener\">NYSE: SLV<\/a>) was up 2.60%, and the ProShares Ultra Silver (ETF) (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=AGQ\" target=\"_blank\" rel=\"noopener\">NYSE: AGQ<\/a>) was up 4.49%.<\/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\/20130624050359\/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-price-end-slightly-higher-but-logs-worst-weekly-performance-in-almost-2-years-silver-prices-also-gain%2F45378&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\/20130624050359js_\/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\/higher-costs-hurts-dardens-q4-profit-shares-edged-lower-dri\/45388\">\nHigher Cost Hurts Darden\u2019s Q4 Profit, Shares Edge Lower (DRI)<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-end-on-a-mixed-note-66\/45380\">\nStocks End on a Mixed Note<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-price-end-slightly-higher-but-logs-worst-weekly-performance-in-almost-2-years-silver-prices-also-gain\/45378\">\nGold Price End Slightly Higher but Logs Worst Weekly Performance in almost 2 Years; Silver Prices Also Gain<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/u-s-stocks-turn-into-red-territory\/45375\">\nU.S. Stocks Turn into Red Territory<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/carmax-comfortably-beats-q1-estimates-kmx\/45374\">\nCarMax Comfortably Beats Q1 Estimates (KMX)<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-edge-higher-3\/45372\">\nStocks Edge Higher<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-dollar-still-broadly-higher-but-rally-pause\/45370\">\nForex Market Update: Dollar Still Broadly Higher but Rally Pauses<\/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\/20130624050359im_\/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 settled higher on Friday after plunging to more than two and half year low level in the previous 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