{"id":46477,"date":"2013-08-07T13:49:00","date_gmt":"2013-08-07T13:49:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-edge-higher-silver-prices-slip-2\/46421\/"},"modified":"2013-08-07T13:49:00","modified_gmt":"2013-08-07T13:49:00","slug":"gold-prices-edge-higher-silver-prices-slip-2","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/gold-prices-edge-higher-silver-prices-slip-2\/46477\/","title":{"rendered":"Gold Prices Edge Higher; Silver Prices 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> tacked higher on Wednesday, snapping six days of losing streak as broadly lower U.S. dollar supported the demand for dollar-dominated commodities. <a href=\"https:\/\/thestockmarketwatch.com\/metal\/silver-price.aspx\">Silver prices<\/a>, meanwhile, edged lower in trading on Wednesday.<\/p>\n<p><span id=\"more-46477\"><\/span><\/p>\n<p>Nevertheless, gains are likely to be capped as investors remain wary of taking any fresh bets on the metal given the fact that two top policymakers have already indicated that the tapering of the quantitative easing is not too far away.<\/p>\n<p>Tapering of the quantitative easing will set <a href=\"https:\/\/thestockmarketwatch.com\/markets\/bonds\/today.aspx\">interest rates<\/a> go up, subsequently impacting the demand for gold as investors will have no incentive to hold this asset (gold does not offer any interest).<\/p>\n<p>At last check, gold futures for December delivery added 0.14% to 1284.30 an ounce\u00a0\u00a0\u00a0 while spot gold gained 0.36% to $1,285.84 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 up 0.22% to $124.24.<\/p>\n<p><a href=\"https:\/\/stockmarketwatch.com\/metal\/silver-price.aspx\" data-internallinksmanager029f6b8e52c=\"5\" title=\"silver price today\">Silver<\/a> futures slipped 0.09% to $19.50 an ounce<\/p>\n<p>The yen rose sharply against the dollar amid speculation that the Japanese currency will be in\u00a0 big demand as Japanese traders, investors will soon try to repatriate or recover overseas earnings and interest and convert it on local currency ahead of the two-week holiday season which starts in mid-August.<\/p>\n<p>The dollar index, which is a measure on greenback\u2019s performance vis-\u00e0-vis a basket of rival currencies, was last down 0.40% to 81.29.<\/p>\n<p>Commodities are traded in dollars in international markets; so any weakness in the U.S. unit tends to support the demand for these items as dealers trading in other currencies find them cheaper.<\/p>\n<p>Meanwhile, bullion investors will now closely look out for the U.S. economic data releases. If data releases in coming weeks show significant improvement in the U.S. economy then the probability is high that the Fed could start winding down its asset purchases in coming months.<\/p>\n<p>Earlier on Tuesday Chicago Fed President Charles Evans and Atlanta Fed President Dennis Lockhart said that the tapering could start as soon as September.<\/p>\n<p>&nbsp;<\/p>\n<div class=\"nr_popular_placeholder\" data-permalink=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-edge-higher-silver-prices-slip-3\/46477\" data-title=\"Gold Prices Edge Higher; Silver Prices 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\/20130813221828js_\/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-end-higher-after-comments-from-atlanta-fed-president\/46593\"><br \/>\nStocks End Higher after Comments From Atlanta Fed President<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-sheds-more-than-1-silver-prices-flat\/46590\"><br \/>\nGold Prices Sheds More Than 1%; Silver Prices Flat<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-swing-into-negative-territory\/46589\"><br \/>\nStocks Swing into Negative Territory<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-dollar-index-rise-sharply\/46585\"><br \/>\nForex Market update: Dollar Index Rise Sharply<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-gain-in-early-trading-31\/46583\"><br \/>\nStocks Gain in Early Trading<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-down-silver-prices-gain\/46579\"><br \/>\nGold Prices Down, Silver Prices Gain<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-futures-up-2\/46577\"><br \/>\nStocks Futures Up<\/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\/20130813221828im_\/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 tacked higher on Wednesday, snapping six days of losing streak as broadly lower U.S. dollar supported the demand 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