{"id":46046,"date":"2013-07-19T14:13:00","date_gmt":"2013-07-19T14:13:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-settle-higher-silver-prices-also-gain-9\/46046\/"},"modified":"2013-07-19T14:13:00","modified_gmt":"2013-07-19T14:13:00","slug":"gold-prices-settle-higher-silver-prices-also-gain-9","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/gold-prices-settle-higher-silver-prices-also-gain-9\/46046\/","title":{"rendered":"Gold Prices Settle Higher; 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\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">Gold prices<\/a> settled higher on Friday, logging gains for a second straight week as the U.S. dollar eased after the <a href=\"http:\/\/www.knowfinance.com\/federal-reserve-system-fed\/\" target=\"_blank\" rel=\"noopener\">Federal Reserve<\/a> Chairman, in his latest bi-annual testimony before the congress reiterated the bank\u2019s commitment towards accommodative monetary policy. <a href=\"https:\/\/stockmarketwatch.com\/metal\/silver\" data-internallinksmanager029f6b8e52c=\"5\" title=\"silver price today\">Silver<\/a> prices also edged higher in trading on Friday.<\/p>\n<p><span id=\"more-46039\"><\/span><\/p>\n<p>Gold futures for August delivery gained 0.7% or $8.70 to settle at $1,292.90 an ounce while spot gold was last up 0.72% to $1,293.80 an ounce.<\/p>\n<p>Gold futures gained 1.2% for the week.<\/p>\n<p>Earlier this week Bernanke said\u00a0 that although tapering of economic stimulating measures (quantitative easing) was expected later this year, there was no \u2018preset course\u2019. In addition, the Fed Chairman also signaled that the period of low <a href=\"https:\/\/thestockmarketwatch.com\/markets\/bonds\/today.aspx\">interest rates<\/a> will also stay for an extended period of time as the U.S. economy shows gradual recovery.<\/p>\n<p>Before Bernanke\u2019s testimony, speculation was widespread that the Fed could start reducing the pace of bond purchase program by September.<\/p>\n<p>\u201cBernanke told the Senate Banking Committee yesterday it was &#8216;way too early to make any judgment&#8217; as to whether tapering will start in September,\u201d said\u00a0 Afshin Nabavi, head of trading at MKS in Switzerland, according to Reuters.<\/p>\n<p>\u201cI take that as positive for gold,\u201d added Nabavi.<\/p>\n<p>Bernanke\u2019s slightly dovish comments also kept lid on bond yields which prompted investors\u00a0 to look towards no interest bearing assets such as gold.<\/p>\n<p>The dollar Index also eased which helped pushing up the demand for dollar-priced commodities.<\/p>\n<p>A data provided Reuters showed that holdings of the SPDR Gold Trust fell almost 1 tons on Thursday to 935.17 tons, which is lowest level since early 2009. For the week, the outflows were 3.9 tons compared 22.9 tons, in the previous week, according to Reuters.<\/p>\n<p>Silver futures were last up 0.34% to $19.45 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 0.59%, and the ProShares Ultra Silver (ETF) (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=AGQ\" target=\"_blank\" rel=\"noopener\">NYSE: AGQ<\/a>) was up 1.33%.<\/p>\n<div class=\"nr_popular_placeholder\" data-permalink=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-settle-higher-silver-prices-also-gain-24\/46039\" data-title=\"Gold Prices Settle Higher; Silver Prices Also Gain\"><\/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\/20130725030635js_\/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-on-a-mixed-note-68\/46158\"><br \/>\nStocks End on a Mixed Note<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-fall-sharply-silver-prices-also-tumble-14\/46157\"><br \/>\nGold Prices Fall Sharply; Silver Prices also Tumble<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-reverse-initial-gains-turn-lower-in-mid-day-trading\/46155\"><br \/>\nStocks Reverse Initial Gains; Turn Lower in Mid-Day Trading<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-gain-in-early-trading-29\/46152\"><br \/>\nStocks Gain in Early Trading<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-euro-gains-against-dollar-after-pmi-data\/46149\"><br \/>\nForex Market Update: Euro Gains Against Dollar After PMI Data<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-futures-edge-higher-silver-futures-also-gain\/46146\"><br \/>\nGold Futures Edge Higher; Silver Futures Also Gain<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stock-futures-gain-6\/46142\"><br \/>\nStock Futures Gain<\/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\/20130725030635im_\/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 higher on Friday, logging gains for a second straight week as the U.S. dollar eased after the 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