{"id":45828,"date":"2013-07-11T08:15:00","date_gmt":"2013-07-11T08:15:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-rally-after-bernankes-remarks-silver-prices-climb-almost-4\/45821\/"},"modified":"2024-08-25T18:09:10","modified_gmt":"2024-08-25T18:09:10","slug":"gold-prices-rally-after-bernankes-remarks-silver-prices-climb-almost-4","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/gold-prices-rally-after-bernankes-remarks-silver-prices-climb-almost-4\/45828\/","title":{"rendered":"Gold Prices Rally After Bernanke\u2019s Remarks, Silver Prices Climb Almost 4%"},"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> jumped during Asian trading hours on Thursday after the <a href=\"https:\/\/thestockmarketwatch.com\/metal\/silver-price.aspx\">Silver prices<\/a> also rose sharply in early trading on Thursday.<\/p>\n<p><span id=\"more-45828\"><\/span><\/p>\n<p>Gold futures for August delivery leaped 2.77% to $1,281.90 an ounce while spot gold gained 1.71% to $1,285.30 an ounce.<\/p>\n<p>Addressing a group of senior economists in an event held at the National Bureau of Economic Research on Wednesday, Bernanke said that the labor market still wasn\u2019t strong enough; as a result the multi-billion dollar bond purchase program would stay on.<\/p>\n<p>Before Bernanke\u2019s remarks, speculation was rife that the Fed would could start winding down its asset purchases by September.<\/p>\n<p>Separately, the minutes from the Fed\u2019s latest open market committee meeting (FOMC) also showed that policymakers were divided over when the bank should start winding down its economic stimulating measures.<\/p>\n<p>Quantitative easing, which entails excessive currency printing to buy government bonds, augurs well for the precious metal as it stokes inflationary concerns.<\/p>\n<p>\u201cBernanke was quite dovish in his comments. Maybe we won&#8217;t see a pullback in quantitative easing as quickly as we anticipated,\u201d said Amber MacKinnon, an analyst at Nomura Securities in Sydney while speaking to Reuters.<\/p>\n<p>\u201cWe are likely to see a short-term rally in gold up to around $1,400 and then a fall back to current levels,\u201d added Mackinnon.<\/p>\n<p><a href=\"https:\/\/stockmarketwatch.com\/metal\/silver-price.aspx\" data-internallinksmanager029f6b8e52c=\"5\" title=\"silver price today\">Silver<\/a> futures jumped 3.84% to $19.90 an ounce.<\/p>\n<p>In <a href=\"https:\/\/stockmarketwatch.com\/markets\/pre-market\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Premarket Movers\">pre-market trading<\/a>, the iShares Silver Trust (ETF) (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=SLV\" target=\"_blank\" rel=\"noopener\">NYSE: SLV<\/a>) was up 3.84%, and the ProShares Ultra Silver (ETF) (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=AGQ\" target=\"_blank\" rel=\"noopener\">NYSE: AGQ<\/a>) was up 7.55%.<\/p>\n<p>&nbsp;<\/p>\n<div class=\"nr_popular_placeholder\" data-permalink=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-rally-after-bernankes-remarks-silver-prices-climb-almost-4\/45828\" data-title=\"Gold Prices Rally After Bernanke\u2019s Remarks, Silver Prices Climb Almost 4%\"><\/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\/20130714234813js_\/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\/yelp-shares-rally-after-needham-co-s-upgrade-yelp\/45887\"><br \/>\nYelp Shares Rally After Needham &#038; Co.\u2019s Upgrade (YELP)<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/webmd-provides-upbeat-q2-and-fy-revenue-outlook-wbmd\/45886\"><br \/>\nWebMD Provides Upbeat Q2 and FY Revenue Outlook (WBMD)<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-end-higher-post-gains-for-the-week-2\/45881\"><br \/>\nStocks End Higher; Post Gains for the Week<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-settle-marginally-lower-silver-prices-also-slip-2\/45879\"><br \/>\nGold Prices Settle Marginally Lower; Silver Prices also Slip<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-almost-flat\/45876\"><br \/>\nStocks Almost Flat<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-slightly-higher-in-early-trading\/45871\"><br \/>\nStocks Slightly Higher in Early Trading<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-dollar-bounces-back-but-the-dollar-index-is-down-for-the-week\/45866\"><br \/>\nForex Market Update: Dollar Bounces Back But the Dollar Index is Down For the week<\/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\/20130714234813im_\/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 jumped during Asian trading hours on Thursday after the Silver prices also rose sharply in early trading on [&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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