{"id":46419,"date":"2013-08-05T14:36:00","date_gmt":"2013-08-05T14:36:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-fall-as-the-service-sector-expands-silver-prices-also-slip\/46415\/"},"modified":"2013-08-05T14:36:00","modified_gmt":"2013-08-05T14:36:00","slug":"gold-prices-fall-as-the-service-sector-expands-silver-prices-also-slip","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/gold-prices-fall-as-the-service-sector-expands-silver-prices-also-slip\/46419\/","title":{"rendered":"Gold Prices Fall as the Service Sector Expands; 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-price.aspx\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">Gold prices<\/a> fell on Monday as investors remained wary of taking new positions on the metal after the Institute of Supply Management\u2019s (ISM) PMI index showed more-than-expected expansion in non-manufacturing activities in July, raising speculation that the <a href=\"http:\/\/www.knowfinance.com\/federal-reserve-system-fed\/\" target=\"_blank\" rel=\"noopener\">Federal Reserve<\/a> might eventually start tapering of the quantitative easing in the near-future. <a href=\"https:\/\/stockmarketwatch.com\/metal\/silver-price.aspx\" data-internallinksmanager029f6b8e52c=\"5\" title=\"silver price today\">Silver<\/a> prices also fell in trading on Monday.<\/p>\n<p><span id=\"more-46419\"><\/span><\/p>\n<p>At last check, gold futures for December delivery fell 0.73% to $1,300.90 an ounce while spot gold edged down 0.67% to $1,302.66 an ounce.<\/p>\n<p>Earlier on Friday, an unexpectedly weak non-farm payrolls data arrested the downward trend in the metal prices even as the U.S. dollar eased.<\/p>\n<p>Still, many strategists are of the view that the Fed will look at some more economic data releases and not just base its decision on the non-farm payrolls data.<\/p>\n<p>With the non-manufacturing PMI Index jumping to 56 in July from 52.2 in June, the probability is high that the bank could start scaling down its economic stimulating measures sooner-than-later.<\/p>\n<p>\u201cThe service sector accounts for nearly 80 percent of U.S. employment and a pick-up here may be interpreted as bolstering the probability of a reduction in the size of the <a href=\"http:\/\/www.knowfinance.com\/federal-reserve-system-fed\/\" target=\"_blank\" rel=\"noopener\">Federal Reserve<\/a>&#8216;s monthly asset purchases at September&#8217;s FOMC meeting,\u201d said Ilya Spivak, currency strategist at DailyFX in New York, according to Reuters.<\/p>\n<p>The Fed\u2019s current round of gold-supportive quantitative easing is explicitly tied to an improvement in the U.S. labor market.<\/p>\n<p>As gold does not provide any interest or dividends, a tighter monetary policy will sway investors towards fixed income markets, weighing on the asset prices. Besides, a stronger dollar (in this backdrop) also tends to hurt the demand for dollar-priced commodities.<\/p>\n<p>Silver futures were last down 1.06% to $19.70<\/p>\n<p>In late trading, the iShares Silver Trust (ETF) (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=SLV\" target=\"_blank\" rel=\"noopener\">NYSE: SLV<\/a>) was down 0.31%, and the ProShares Ultra Silver (ETF) (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=AGQ\" target=\"_blank\" rel=\"noopener\">NYSE: AGQ<\/a>) was down 0.52%.<\/p>\n<div class=\"nr_popular_placeholder\" data-permalink=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-fall-as-the-service-sector-expands-silver-prices-also-slip\/46419\" data-title=\"Gold Prices Fall as the Service Sector Expands; 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\/20130808001424js_\/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\/20130808001424im_\/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 fell on Monday as investors remained wary of taking new positions on the metal after the Institute of [&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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