{"id":46503,"date":"2013-08-08T13:27:00","date_gmt":"2013-08-08T13:27:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-and-silver-futures-rally-after-chinese-trade-data\/46495\/"},"modified":"2013-08-08T13:27:00","modified_gmt":"2013-08-08T13:27:00","slug":"gold-and-silver-futures-rally-after-chinese-trade-data","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/gold-and-silver-futures-rally-after-chinese-trade-data\/46503\/","title":{"rendered":"Gold and Silver Futures Rally After Chinese Trade Data"},"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<\/a> futures made a strong comeback on Thursday, breaching $1,300 an ounce mark as broadly lower U.S. dollar and unexpectedly strong trade data from China triggered demand for commodities. <a href=\"https:\/\/stockmarketwatch.com\/metal\/silver-price.aspx\" data-internallinksmanager029f6b8e52c=\"5\" title=\"silver price today\">Silver<\/a> futures also rallied in trading on Thursday.<\/p>\n<p><span id=\"more-46503\"><\/span><\/p>\n<p>Short coverings also helped the metal to extend gains on Thursday.<\/p>\n<p>At last check, gold futures for December delivery leaped 1.90% to $1,309.70 an ounce while spot gold jumped 1.78% to $1,310.00 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 1.98% to $126.59.<\/p>\n<p>Silver futures climbed 3.34% to $20.16 an ounce.<\/p>\n<p>The dollar index fell to its near seven-week low level on Thursday. Market participants are uncertain as to when and at what pace the <a href=\"http:\/\/www.knowfinance.com\/federal-reserve-system-fed\/\" target=\"_blank\" rel=\"noopener\">Federal Reserve<\/a> intends to squeeze its asset purchases.<\/p>\n<p>The recent U.S. economic data releases are inconclusive. While recent labor market data releases point that the economy is still fragile, some other economic indicators such as PMI and second quarter GDP data have shown significant improvement.<\/p>\n<p>In this backdrop, it very difficult to predict what would be the Fed\u2019s next move regarding the tapering of quantitative easing.<\/p>\n<p>\u201cGold is up against sellers here wanting to protect recent added shorts, and so far they are succeeding\u2026It&#8217;s a growth and potential early tapering story that drives the <a href=\"https:\/\/stockmarketwatch.com\/live\/stock-market-today\" data-internallinksmanager029f6b8e52c=\"6\" title=\"Stock Market Today\">market today<\/a>,\u201d said Saxo Bank\u2019s head of precious Metal research\u00a0 Ole Hansen in a note to investors.<\/p>\n<p><a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">Gold prices<\/a> also received support from stronger-than-expected Chinese trade data. Chinese exports climbed 5% while its imports jumped 10% in July. The data not only triggered demand for industrial metals but commodity-linked currencies such as Aussie dollar also rallied.<\/p>\n<p>\u201cChina is the 800-pound gorilla in the room from a commodities standpoint,\u201d said Jason Rotman, president of Lido Isle Advisors in a note on Thursday, according to MarketWatch.<\/p>\n<div class=\"nr_popular_placeholder\" data-permalink=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-and-silver-futures-rally-after-chinese-trade-data\/46503\" data-title=\"Gold and Silver Futures Rally After Chinese Trade Data\"><\/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\/20130811224232js_\/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\/mosnter-beverage-reports-q2-results-mnst\/46541\"><br \/>\nMosnter Beverage Reports Q2 Results (MNST)<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/nrg-energy-slashes-fy-2013-guidance-shares-slip-nrg\/46538\"><br \/>\nNRG Energy Slashes FY 2013 Guidance, Shares Slip (NRG)<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-slip-end-lower-for-the-week\/46532\"><br \/>\nStocks Slip; End Lower for the Week<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-and-silver-prices-edge-higher-13\/46530\"><br \/>\nGold and Silver Prices Edge Higher<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-extend-losses-7\/46528\"><br \/>\nStocks Extend Losses<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-slip-in-early-trading-14\/46524\"><br \/>\nStocks Slip in Early Trading<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-dollar-index-slightly-higher-aussie-dollar-gains-sharply-after-upbeat-chinese-data\/46518\"><br \/>\nForex Market Update: Dollar Index Slightly Higher, Aussie Dollar Gains Sharply After Upbeat Chinese Data<\/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\/20130811224232im_\/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 futures made a strong comeback on Thursday, breaching $1,300 an ounce mark as broadly lower U.S. dollar and unexpectedly [&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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