{"id":46325,"date":"2013-07-31T13:55:00","date_gmt":"2013-07-31T13:55:00","guid":{"rendered":"https:\/\/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\/46322\/"},"modified":"2013-07-31T13:55:00","modified_gmt":"2013-07-31T13:55:00","slug":"gold-prices-plunge-as-rising-dollar-and-threat-of-feds-qe-tapering-weigh-on-sentiment-silver-prices-also-slip","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/gold-prices-plunge-as-rising-dollar-and-threat-of-feds-qe-tapering-weigh-on-sentiment-silver-prices-also-slip\/46325\/","title":{"rendered":"Gold Prices Plunge as Rising Dollar and Threat of Fed\u2019s QE Tapering Weigh on Sentiment; Silver Prices Also Slip"},"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> tumbled about 1% on Wednesday as investors remained in sidelines after stronger-than-expected U.S. job and GDP data boosted the dollar and fuelled speculation that the <a href=\"http:\/\/www.knowfinance.com\/federal-reserve-system-fed\/\" target=\"_blank\" rel=\"noopener\">Federal Reserve<\/a> might soon start to squeeze its asset purchase program amid significantly improving macroeconomic environment. <a href=\"https:\/\/stockmarketwatch.com\/metal\/silver\" data-internallinksmanager029f6b8e52c=\"5\" title=\"silver price today\">Silver<\/a> prices also slipped in trading on Wednesday.<\/p>\n<p><span id=\"more-46325\"><\/span><\/p>\n<p>At last check, gold futures lost 1.00% to $1,311.60 an ounce while spot gold was down 1.17% to $1,311.21 an ounce. In late trading, the SPDR Gold Trust (ETF) (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=GLD\" target=\"_blank\" rel=\"noopener\">NYSE: GLD<\/a>) was down 1.11% to $126.70.<\/p>\n<p>Silver futures fell 0.48% to $19.58 an ounce.<\/p>\n<p>Earlier today, the Automatic Data Processing Inc\u2019s (ADP) private sector job report showed that the U.S. economy added 200,000 jobs in July, exceeding economists\u2019 forecast for 180,000.<\/p>\n<p>The U.S. GDP expanded at an unexpectedly faster pace in the second quarter, according to the Commerce Department. The GDP grew at an annualized rate of 1.7% while economists had expected it to grow by 1%.<\/p>\n<p>The pair of strong economic data releases bolstered the U.S. dollar vis-\u00e0-vis against major traded currencies, making dollar priced commodities expensive for holders of other currencies.<\/p>\n<p>The greenback could climb more should the <a href=\"http:\/\/www.knowfinance.com\/federal-reserve-system-fed\/\" target=\"_blank\" rel=\"noopener\">Federal Reserve<\/a> decides to taper its economic stimulating measures. The Fed is expected to wrap up its two-day open market committee meeting (FOMC) by 2:00 p.m. EST after which its Chairman Ben Bernanke will provide the bank\u2019s outlook on the U.S. economy.<\/p>\n<p>Earlier in July, Bernanke signaled that the bank could possibly start winding up of the quantitative easing later this year.<\/p>\n<p>Bullion, which clocked bull runs for last 12 consecutive years, has lost more than fifth of its value since the beginning of the year as investors cut bets on\u00a0 the inflation-hedge asset in hordes amid rising speculation that the Federal Reserve could soon start scaling down its economic stimulating measure.<\/p>\n<div class=\"nr_popular_placeholder\" data-permalink=\"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\" data-title=\"Gold Prices Plunge as Rising Dollar and Threat of Fed\u2019s QE Tapering Weigh on Sentiment; Silver Prices Also Slip\"><\/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\/20130803215923js_\/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\/athlon-shares-climb-nearly-38-on-first-trading-day-athl\/46399\"><br \/>\nAthlon Shares Climb Nearly 38% on First Trading Day (ATHL)<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/mylan-shares-rally-after-several-upgrades-myl\/46397\"><br \/>\nMylan Shares Rally After Several Upgrades (MYL)<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-end-higher-19\/46392\"><br \/>\nStocks End Higher<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-futures-pare-early-losses-after-tepid-job-data-silver-prices-rise-sharply\/46388\"><br \/>\nGold Futures Pare Early Losses After Tepid Job Data; Silver Prices Rise Sharply<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-remain-in-red-territory-3\/46385\"><br \/>\nStocks Remain in Red Territory<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-dollar-index-falls-after-non-farm-payrolls-data\/46383\"><br \/>\nForex Market Update: Dollar Index Falls After Non-Farm Payrolls Data<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-edge-lower-in-early-trading-10\/46380\"><br \/>\nStocks Edge Lower 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\/20130803215923im_\/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 tumbled about 1% on Wednesday as investors remained in sidelines after stronger-than-expected U.S. job and GDP data boosted [&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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