{"id":46314,"date":"2013-07-31T09:24:00","date_gmt":"2013-07-31T09:24:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-slip-as-dollar-gains-after-gdp-data-silver-prices-flat\/46312\/"},"modified":"2013-07-31T09:24:00","modified_gmt":"2013-07-31T09:24:00","slug":"gold-prices-slip-as-dollar-gains-after-gdp-data-silver-prices-flat","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/gold-prices-slip-as-dollar-gains-after-gdp-data-silver-prices-flat\/46314\/","title":{"rendered":"Gold Prices Slip as Dollar Gains After GDP Data; Silver Prices Flat"},"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> slipped on Wednesday as the U.S. dollar gained traction after the U.S\u2019s preliminary reading on the second quarter GDP showed that world\u2019s largest economy grew at faster than expected rate, fuelling speculation that the <a href=\"http:\/\/www.knowfinance.com\/federal-reserve-system-fed\/\" target=\"_blank\" rel=\"noopener\">Federal Reserve<\/a> could soon start tapering its multi-billion bond purchase program. <a href=\"https:\/\/stockmarketwatch.com\/metal\/silver-price.aspx\" data-internallinksmanager029f6b8e52c=\"5\" title=\"silver price today\">Silver<\/a> prices were also flat in early trading on Wednesday.<\/p>\n<p><span id=\"more-46314\"><\/span><\/p>\n<p>At last check, gold futures slid 0.12% to $1,323.20 an ounce while spot gold edged down 0.22% to $1,323.74 an ounce.<\/p>\n<p>The U.S. GDP rose at an annualized rate of 1.7% in the second quarter, comfortably beating economists\u2019 forecast for 1.0% growth, according to a poll conducted by Reuters.<\/p>\n<p>Meanwhile, all eyes will now focus on the <a href=\"http:\/\/www.knowfinance.com\/federal-reserve-system-fed\/\" target=\"_blank\" rel=\"noopener\">Federal Reserve<\/a>\u2019s policy rate statement, later today. The Fed\u2019s open market committee meeting (FOMC) will end today at 2:00 p.m. EST followed by its Chairman Ben Bernanke\u2019s press conference. Even though the Fed has made it clear that it will continue to keep interest rates at record low levels for a prolonged period in its last FOMC, market participants are anxious to know when the bank would start winding down its bond purchase program.<\/p>\n<p>In his latest congressional testimony, Bernanke had said that the bank could start scaling down the pace of economic stimulating measures later this year.<\/p>\n<p>\u201cAny mention of September as the timing for the central bank&#8217;s tapering of QE3 would be dollar-positive and could still sink gold back below $1,300,\u201d said\u00a0 Andrey Kryuchenkov, an analyst at\u00a0 VTB Capital, according to Reuters.<\/p>\n<p>The U.S. dollar index was last up 0.28% at 82.07.<\/p>\n<p>Silver futures were flat at $19.68 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 0.05%, and the ProShares Ultra Silver (ETF) (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=AGQ\" target=\"_blank\" rel=\"noopener\">NYSE: AGQ<\/a>) was flat.<\/p>\n<div class=\"nr_popular_placeholder\" data-permalink=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-slip-as-dollar-gains-after-gdp-data-silver-prices-flat\/46314\" data-title=\"Gold Prices Slip as Dollar Gains After GDP Data; Silver Prices Flat\"><\/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\/20130802072707js_\/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-surge-on-economic-data-sp-500-crosses-1700-for-the-first-time\/46363\"><br \/>\nStocks Surge on Economic Data; S&#038;P 500 Crosses 1,700 For the First Time<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-settle-lower-silver-prices-also-slip-18\/46359\"><br \/>\nGold Prices Settle Lower; Silver Prices Also Slip<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-rally-across-the-board-4\/46352\"><br \/>\nStocks Rally Across-The-Board<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-trading-sharply-higher-in-early-trade\/46349\"><br \/>\nStocks Trading Sharply Higher in Early Trade<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-euro-down-against-dollar-dollar-index-rises\/46347\"><br \/>\nForex Market Update: Euro Down Against Dollar, Dollar Index Rises<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-gain-after-bernankes-dovish-remarks-silver-prices-also-edge-higher\/46342\"><br \/>\nGold Prices Gain After Bernanke\u2019s Dovish Remarks; Silver Prices Also Edge Higher<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-futures-herald-a-strong-start\/46340\"><br \/>\nStocks Futures Herald a Strong Start<\/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\/20130802072707im_\/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 slipped on Wednesday as the U.S. dollar gained traction after the U.S\u2019s preliminary reading on the second quarter [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"closed","ping_status":"","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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