{"id":46277,"date":"2013-07-30T08:04:00","date_gmt":"2013-07-30T08:04:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-edge-lower-silver-prices-plunge-more-than-1\/46272\/"},"modified":"2013-07-30T08:04:00","modified_gmt":"2013-07-30T08:04:00","slug":"gold-prices-edge-lower-silver-prices-plunge-more-than-1","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/gold-prices-edge-lower-silver-prices-plunge-more-than-1\/46277\/","title":{"rendered":"Gold Prices Edge Lower, Silver Prices Plunge More Than 1%"},"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> lost some of their ground during Asian trading hours on Tuesday as investors remained wary of taking any fresh bets on the metal ahead of the <a href=\"http:\/\/www.knowfinance.com\/federal-reserve-system-fed\/\" target=\"_blank\" rel=\"noopener\">Federal Reserve<\/a>\u2019s two day policy rate meeting (FOMC), which kick-starts later today. <a href=\"https:\/\/stockmarketwatch.com\/metal\/silver-price.aspx\" data-internallinksmanager029f6b8e52c=\"5\" title=\"silver price today\">Silver<\/a> prices, meanwhile, fell sharply in early trading on Tuesday.<\/p>\n<p><span id=\"more-46277\"><\/span><\/p>\n<p>At last check, gold futures fell 0.50% to $1,323.00 an ounce while spot gold lost 0.35% to $1,322.31 an ounce.<\/p>\n<p>Although the Fed is likely to reaffirm its commitment towards accommodating monetary policy (low <a href=\"https:\/\/thestockmarketwatch.com\/markets\/bonds\/today.aspx\">interest rates<\/a>), market participants are anxious to know what would be the bank\u2019s stance on the ongoing bond purchase program (quantitative easing).<\/p>\n<p>Earlier in July during the semi-annual congressional testimony, the Fed\u2019s Chairman, Ben Bernanke, said that the tapering of the asset purchases could start later this year; but also added that the bank will keep all options open.<\/p>\n<p>This means that the Fed will keep a close eye on U.S. economic indicators before it eventually decides to pull back the scale of economic stimulating measures.<\/p>\n<p>Lately, economic indicators have been mixed and this might press the Fed to push back its tapering plans until next year. (Pending home sales contracted in June after clocking 6.7% gains in May).<\/p>\n<p>\u201cThe (economic indicators) numbers coming from the United States are pretty mixed. Chances are there won&#8217;t be any major announcement,\u201d said Ng Cheng Thye, head of precious metals at Standard Bank in Singapore, according to Reuters.<\/p>\n<p>Meanwhile, the physical side demand for bullion remained weak in Asia. Demand has eased ever since the metal breached $1,320 an ounce level mark, said ANZ analysts in a research note to clients.<\/p>\n<p>Silver futures plunged 1.48% to $19.57 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 down 0.68%, and the ProShares Ultra Silver (ETF) (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=AGQ\" target=\"_blank\" rel=\"noopener\">NYSE: AGQ<\/a>) was down 1.21%.<\/p>\n<p>&nbsp;<\/p>\n<div class=\"nr_popular_placeholder\" data-permalink=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-edge-lower-silver-prices-plunge-more-than-1\/46277\" data-title=\"Gold Prices Edge Lower, Silver Prices Plunge More Than 1%\"><\/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\/20130801110746js_\/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\/boston-beer-q2-profit-up-37-aided-by-strong-growth-in-volume-shipments-sam\/46336\"><br \/>\nBoston Beer Q2 Profit up 37%, Aided By Strong Growth in Volume Shipments (SAM)<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/trulias-q2-loss-narrows-as-revenue-and-subscribers-base-soar-trla\/46334\"><br \/>\nTrulia\u2019s Q2 Loss Narrows as Revenue and Subscribers\u2019 Base Soar (TRLA)<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-end-on-a-mixed-note-post-gains-for-july\/46328\"><br \/>\nStocks End on a Mixed Note; Post Gains for July<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-plunge-as-rising-dollar-and-threat-of-feds-qe-tapering-weigh-on-sentiment-silver-prices-also-slip\/46325\"><br \/>\nGold Prices Plunge as Rising Dollar and Threat of Fed\u2019s QE Tapering Weigh on Sentiment; Silver Prices Also Slip<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/major-u-s-averages-at-record-high-levels\/46323\"><br \/>\nMajor U.S. Averages at Record High Levels<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-dollar-index-gains-after-gdp-and-job-data\/46321\"><br \/>\nForex Market Update: Dollar Index Gains After GDP, and Job Data<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-gain-in-early-trading-30\/46318\"><br \/>\nStocks Gain in Early Trading<\/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\/20130801110746im_\/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 lost some of their ground during Asian trading hours on Tuesday as investors remained wary of taking any 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