{"id":46406,"date":"2013-08-05T08:25:00","date_gmt":"2013-08-05T08:25:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-edge-lower-silver-prices-down-sharply\/46400\/"},"modified":"2013-08-05T08:25:00","modified_gmt":"2013-08-05T08:25:00","slug":"gold-prices-edge-lower-silver-prices-down-sharply","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/gold-prices-edge-lower-silver-prices-down-sharply\/46406\/","title":{"rendered":"Gold Prices Edge Lower; Silver Prices Down Sharply"},"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> edged down during Asian trading hours on Monday as investors paused to take fresh bets on the metal, waiting for some more economic data releases to gauge the state of the health of U.S. economy, which in turn will be provide clearer clue over when exactly the <a href=\"http:\/\/www.knowfinance.com\/federal-reserve-system-fed\/\" target=\"_blank\" rel=\"noopener\">Federal Reserve<\/a> could start tapering its quantitative easing. <a href=\"https:\/\/stockmarketwatch.com\/metal\/silver-price.aspx\" data-internallinksmanager029f6b8e52c=\"5\" title=\"silver price today\">Silver<\/a> prices have also fallen in early trading on Monday.<\/p>\n<p><span id=\"more-46406\"><\/span><\/p>\n<p>At last check, gold futures slipped 0.15% to $1,308.50 an ounce while spot gold edged down 0.34% to $1,306.99 an ounce.<\/p>\n<p>Silver futures plunged 1.04% to $19.70 an ounce.<\/p>\n<p>The greenback came under pressure on Friday while bullion price gained sharply after the Labor Department\u2019s monthly non-farm payrolls report showed unexpectedly weak numbers.<\/p>\n<p>Only 162,000 new payrolls were added compared to analysts\u2019 expectation for 184,000. The weak job data fanned speculation that the Fed might not pullback its economic stimulating measures (quantitative easing) in the immediate future.<\/p>\n<p>Last week, a series of better-than-expected U.S. economic data releases fanned speculation that the bank could soon start (as early as September) to squeeze its multi-billion dollar bond purchase program.<\/p>\n<p>Bullion tends to gain in the backdrop of accommodating monetary policy as lower <a href=\"https:\/\/thestockmarketwatch.com\/markets\/bonds\/today.aspx\">interest rates<\/a> encourage investors to seek safety in the metal, which does not provide any interest.<\/p>\n<p>However, some strategists like Robin Bhar, an analyst at Societe Generale,\u00a0 are not convinced that the Fed will extend its QE3 for an extended period of time.<\/p>\n<p>In a note to investors, Bhar wrote, \u201cIt is positive that gold is holding above $1,300 and obviously the dollar is still relatively weak on the broad dollar index, but I wouldn&#8217;t be so convinced by the rally unless some of the U.S. data comes in weak,\u201d according to Reuters.<\/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, fell 0.26% to 918.64 tons, on Friday, showed a data provided by Reuters.<\/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-down-sharply\/46406\" data-title=\"Gold Prices Edge Lower; Silver Prices Down Sharply\"><\/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\/20130808035103js_\/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\/fed-tapering-worries-push-stocks-lower\/46480\"><br \/>\nFed Tapering Worries Push Stocks Lower<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-edge-higher-silver-prices-slip-3\/46477\"><br \/>\nGold Prices Edge Higher; Silver Prices Slip<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-remain-lower-in-mid-day-trading-2\/46474\"><br \/>\nStocks Remain Lower in Mid-Day Trading<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-move-lower-in-early-trading\/46471\"><br \/>\nStocks Move Lower in Early Trading<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-yen-gains-against-dollar-dollar-index-slips\/46467\"><br \/>\nForex Market Update: Yen Gains Against Dollar, Dollar Index slips<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-extend-losses-silver-prices-plunge-more-than-1\/46462\"><br \/>\nGold Prices Extend Losses, Silver Prices Plunge More Than 1%<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-futures-down-possibility-of-early-tapering-of-qe3-weighs-on-the-sentiment\/46460\"><br \/>\nStocks Futures Down, Possibility of Early Tapering of QE3 Weighs On the Sentiment<\/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\/20130808035103im_\/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 edged down during Asian trading hours on Monday as investors paused to take fresh bets on the metal, [&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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