{"id":46146,"date":"2013-07-24T08:36:00","date_gmt":"2013-07-24T08:36:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-futures-edge-higher-silver-futures-also-gain\/46141\/"},"modified":"2013-07-24T08:36:00","modified_gmt":"2013-07-24T08:36:00","slug":"gold-futures-edge-higher-silver-futures-also-gain","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/gold-futures-edge-higher-silver-futures-also-gain\/46146\/","title":{"rendered":"Gold Futures Edge Higher; Silver Futures 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<\/a> futures pared initial weakness to edge higher during Asian trading hours on Wednesday as investors continued to take positions on inflation hedge bets amid expectations that the <a href=\"http:\/\/www.knowfinance.com\/federal-reserve-system-fed\/\" target=\"_blank\" rel=\"noopener\">Federal Reserve<\/a> might keep its accommodating monetary policy on for some more time. However, spot gold prices fell as the sentiment in China was subdued after country\u2019s manufacturing activities fell to 11-month low in July. <a href=\"https:\/\/stockmarketwatch.com\/metal\/silver-price.aspx\" data-internallinksmanager029f6b8e52c=\"5\" title=\"silver price today\">Silver<\/a> futures also edged higher in early trading on Wednesday.<\/p>\n<p><span id=\"more-46146\"><\/span><\/p>\n<p>Earlier today, bullion prices slipped as investors booked profits after the metal hovered around one-month high level in previous sessions. A stronger U.S. dollar also weighed on the demand.<\/p>\n<p>At last check, gold futures for August delivery gained 0.34% to $1,339.80 an ounce while spot gold fell 0.69% to 1,338.24 an ounce.<\/p>\n<p>Silver futures were edged up 0.20% to $20.29 an ounce.<\/p>\n<p>Bullion rallied almost 6% in last six sessions, showed a data provided by Reuters. Last week, the <a href=\"http:\/\/www.knowfinance.com\/federal-reserve-system-fed\/\" target=\"_blank\" rel=\"noopener\">Federal Reserve<\/a> Chairman Ben Bernanke signalled that the tapering of the bond purchase program (quantitative easing or QE3) could begin later this year, subject to macroeconomic outlook.<\/p>\n<p>Bernanke\u2019s slightly dovish remarks pacified investors. Furthermore, a very tepid housing market data on Tuesday also raised hopes that the Fed might wait little longer before its starts to taper its QE3.<\/p>\n<p>Before Bernanke\u2019s congressional testimony, the general perception was that the Fed would start winding down asset purchases from September.<\/p>\n<p>Earlier this week, the metal breached $1,300 level mark, which triggered technical buying. Weakness in the U.S. dollar also supported prices.<\/p>\n<p>Now, bullion investors will keep a very close eye on upcoming U.S. economic indicators, especially the job data, as scaling down of the Fed\u2019s economic stimulating measures is explicitly tied to an improvement in the economy.<\/p>\n<p>Meanwhile, the 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 ETF, continued to fall on Tuesday.<\/p>\n<p>A data provided by Reuters showed that the fund\u2019s holdings fell another 0.16% to 929.76 tons on Tuesday.<\/p>\n<p>&nbsp;<\/p>\n<div class=\"nr_popular_placeholder\" data-permalink=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-futures-edge-higher-silver-futures-also-gain\/46146\" data-title=\"Gold Futures Edge Higher; Silver Futures 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\/20130726184448js_\/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\/forex-market-update-u-s-dollar-at-5-week-low\/46217\"><br \/>\nForex Market Update: U.S. Dollar at 5-Week Low<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-remain-in-negative-territory\/46213\"><br \/>\nStocks Remain in Negative Territory<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-down-in-early-trading-11\/46209\"><br \/>\nStocks Down in Early Trading<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-ease-but-on-track-for-weekly-gain-silver-prices-also-down\/46206\"><br \/>\nGold Prices Ease but on Track for Weekly Gain; Silver Prices also Down<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stock-futures-point-to-a-lower-start-3\/46200\"><br \/>\nStock Futures Point to a Lower Start<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-recover-in-late-trading-to-finish-higher\/46193\"><br \/>\nStocks Recover in Late Trading to Finish Higher<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-settle-higher-silver-prices-also-gain-25\/46192\"><br \/>\nGold Prices Settle Higher; Silver Prices also 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\/20130726184448im_\/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 futures pared initial weakness to edge higher during Asian trading hours on Wednesday as investors continued to take positions 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