{"id":45724,"date":"2013-07-08T14:29:00","date_gmt":"2013-07-08T14:29:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-settle-sharply-higher-silver-prices-also-rise-sharply\/45723\/"},"modified":"2024-08-25T18:09:15","modified_gmt":"2024-08-25T18:09:15","slug":"gold-prices-settle-sharply-higher-silver-prices-also-rise-sharply","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/gold-prices-settle-sharply-higher-silver-prices-also-rise-sharply\/45724\/","title":{"rendered":"Gold Prices Settle Sharply Higher; Silver Prices Also Rise 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:\/\/stockmarketwatch.com\/metal\/gold\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">Gold prices<\/a> settled sharply higher on Monday as broadly lower U.S. dollar boosted the demand for dollar-priced commodities even as stronger physical side demand in Asia, driven by recent dips, helped the metal to extend gains. <a href=\"https:\/\/thestockmarketwatch.com\/metal\/silver-price.aspx\">Silver prices<\/a> also rose sharply in trading on Monday.<\/p>\n<p><span id=\"more-45724\"><\/span><\/p>\n<p>U.S. gold futures for August delivery climbed $22.20, or 1.8% to settle at $1,234.90 an ounce while spot gold was last up 1.13% to $1,237.10 an ounce.<\/p>\n<p>The U.S. dollar Index, which climbed to its 3 year high during Asian trading hours on Monday, eased after investors chose to close positions and book profits. The U.S. dollar traded sharply higher after the Labor Department\u2019s non-farm payrolls report, which was released on Friday, showed more-than-expected job additions in June.<\/p>\n<p>The unexpectedly strong job data release on Friday fanned speculation that the <a href=\"http:\/\/www.knowfinance.com\/federal-reserve-system-fed\/\" target=\"_blank\" rel=\"noopener\">Federal Reserve<\/a> could soon start to scale down the pace of its quantitative easing, weighing heavily on gold prices.<\/p>\n<p>Meanwhile, the euro also traded sharply higher on Monday after news reports said that international lenders were ready to approve the next tranche of bailout fund for debt laden Greece.<\/p>\n<p>In general, a weaker U.S. dollar\u2019s boosts the demand for gold as traders dealing in other currencies find it cheaper to buy in the international market.<\/p>\n<p>Commenting over gold\u2019s small rebound, Karim Cherif, an analyst at Credit Suisse said, \u201cThe move down (in bullion prices) on Friday was pretty strong, so obviously you would expect some kind of rebound and if you look at currencies, the dollar is coming off earlier highs, so there is a bit of stabilisation in gold after losses,\u201d according to Reuters.<\/p>\n<p><a href=\"https:\/\/stockmarketwatch.com\/metal\/silver\" data-internallinksmanager029f6b8e52c=\"5\" title=\"silver price today\">Silver<\/a> futures were last up 1.70% to $19 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 1.21% to $18.43, and the iShares Silver Trust (ETF) (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=AGQ\" target=\"_blank\" rel=\"noopener\">NYSE: AGQ<\/a>) was up 2.42% to $16.10.<\/p>\n<div class=\"nr_popular_placeholder\" data-permalink=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-settle-sharply-higher-silver-prices-also-rise-sharply\/45724\" data-title=\"Gold Prices Settle Sharply Higher; Silver Prices Also Rise Sharply\"><\/div>\n<p><script id=\"mNCC\" language=\"javascript\">  medianet_width='600';  medianet_height= '250';  medianet_crid='814932888';  <\/script>  <script id=\"mNSC\" src=\"https:\/\/web.archive.org\/web\/20130710235816js_\/http:\/\/contextual.media.net\/nmedianet.js?cid=8CUT71M67\" language=\"javascript\"><\/script> <\/p>\n<p><!-- AddThis Button BEGIN --><\/p>\n<div class=\"addthis_toolbox addthis_default_style addthis_32x32_style\">\n<a class=\"addthis_button_preferred_1\"><\/a><br \/>\n<a class=\"addthis_button_preferred_2\"><\/a><br \/>\n<a class=\"addthis_button_preferred_3\"><\/a><br \/>\n<a class=\"addthis_button_preferred_4\"><\/a><br \/>\n<a class=\"addthis_button_compact\"><\/a><br \/>\n<a class=\"addthis_counter addthis_bubble_style\"><\/a>\n<\/div>\n<p><script type=\"text\/javascript\">var addthis_config = {\"data_track_addressbar\":true};<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/s7.addthis.com\/js\/250\/addthis_widget.js#pubid=pennystocksfinder\"><\/script><br \/>\n<!-- AddThis Button END --><\/p>\n<p>More Posts by this author<\/p>\n<ul>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-end-mixed-after-fed-minutes\/45815\"><br \/>\nStocks End Mixed after Fed Minutes<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-post-small-gains-silver-prices-also-post-modest-gain\/45813\"><br \/>\nGold Prices Post Small Gains; Silver Prices Also Post Modest Gain<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-trade-mixed\/45811\"><br \/>\nStocks Trade Mixed<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/family-dollar-stores-shares-rise-sharply-after-earnings-beat-fdo\/45808\"><br \/>\nFamily Dollar Stores Shares Rise Sharply after Earnings Beat (FDO)<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-flat-in-early-trading-10\/45797\"><br \/>\nStocks Flat in Early Trading<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-dollar-slips-as-investors-wait-for-feds-minutes-and-bernankes-speech\/45792\"><br \/>\nForex Market Update: Dollar Slips as Investors Wait for Fed\u2019s Minutes and Bernanke\u2019s Speech<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-and-silver-prices-edge-up-as-investors-eye-feds-minutes\/45790\"><br \/>\nGold and Silver Prices Edge Up as Investors Eye Fed\u2019s Minutes<\/a><\/li>\n<\/ul>\n<hr>\n<table style=\"border:none;margin:0;\">\n<tr>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/web.archive.org\/web\/20130710235816im_\/http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/userphoto\/5.jpg\" alt=\"edliston\" width=\"125\" height=\"125\" class=\"photo\"><\/td>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<div style=\"font-size:11pt;\"><b>Post Written By: Ed Liston <\/b><\/div>\n<div style=\"font-size:10pt;\">\n<p>Ed 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<\/p><\/div>\n<\/td>\n<\/tr>\n<\/table>\n<p><!--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--><\/p>\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","protected":false},"excerpt":{"rendered":"<p>Gold prices settled sharply higher on Monday as broadly lower U.S. dollar boosted the demand for dollar-priced commodities even as [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"closed","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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