{"id":46677,"date":"2013-08-16T13:40:00","date_gmt":"2013-08-16T13:40:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-on-course-to-post-best-weekly-performance-in-last-one-month\/46665\/"},"modified":"2013-08-16T13:40:00","modified_gmt":"2013-08-16T13:40:00","slug":"gold-prices-on-course-to-post-best-weekly-performance-in-last-one-month","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/gold-prices-on-course-to-post-best-weekly-performance-in-last-one-month\/46677\/","title":{"rendered":"Gold Prices On Course to Post Best Weekly Performance in Last One Month"},"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 higher on Friday and were heading towards clocking their best weekly performance in last one month as barrage of weaker-than-expected U.S. economic data releases in last two sessions have raised hopes that the <a href=\"http:\/\/www.knowfinance.com\/federal-reserve-system-fed\/\" target=\"_blank\" rel=\"noopener\">Federal Reserve<\/a> might wait a bit longer before its starts to wind down economic stimulating measures.<\/p>\n<p><span id=\"more-46677\"><\/span><\/p>\n<p>At last check, U.S. gold futures for December delivery gained 0.54% to $1,368.20 an ounce while spot gold edged up 0.51% to $1,367.90 an ounce.<\/p>\n<p>SPDR Gold Trust (ETF)<b> <\/b>(<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=GLD\">NYSE: GLD<\/a>) was last up 0.58% to $132.43<b><\/b><\/p>\n<p><a href=\"https:\/\/stockmarketwatch.com\/metal\/silver-price.aspx\" data-internallinksmanager029f6b8e52c=\"5\" title=\"silver price today\">Silver<\/a> futures jumped 1.46% to $23.32 an ounce.<\/p>\n<p>Earlier in July, when the <a href=\"http:\/\/www.knowfinance.com\/federal-reserve-system-fed\/\" target=\"_blank\" rel=\"noopener\">Federal Reserve<\/a> Chairman, Ben Bernanke gave his testimony to the Congress, he indicated that the tapering of the bond purchase program could start before the year-end, provided economic indicators show significant improvement.<\/p>\n<p>However, the U.S economic outlook looks uncertain. Although the labor market has shown significant recovery, some other key economic indicators have been tepid in the recent past. July\u2019s Producer price index was flat. Manufacturing activities in the New York State and factory activities in mid-Atlantic region contracted sharply in August.\u00a0 July\u2019s housing starts data was also weaker-than-expected while the consumer sentiment also fell sharply in August, according to University of Michigan\/Thomson Reuters.<\/p>\n<p>Commenting over a series of disappointing economic data releases and its implication on bullion prices, Ole Hansen, General Manager at Saxo Bank said in a note to clients, \u00a0\u201cInvestors are so concentrated on the whole talk about tapering that any disappointing U.S. data can bolster prices,\u201d according to Reuters.<\/p>\n<p>\u201cPeople are pricing in the fact that the Fed will keep interest rates low for quite a long time and that&#8217;s positive for gold,\u201d added Hansen.<\/p>\n<p>Gold tends to benefit in an environment of easy-money. As interest rates remain low when central banks keep an accommodative monetary policy, investors prefer non-interest bearing assets such as gold.<\/p>\n<p>&nbsp;<\/p>\n<div class=\"nr_popular_placeholder\" data-permalink=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-on-course-to-post-best-weekly-performance-in-last-one-month\/46677\" data-title=\"Gold Prices On Course to Post Best Weekly Performance in Last One Month\"><\/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\/20130818200327js_\/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\/aol-to-slash-500-jobs-at-patch\/46691\"><br \/>\nAOL To Slash 500 Jobs At Patch<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/merrill-lynch-to-be-dissolved-bloomberg-bac\/46690\"><br \/>\nMerrill Lynch To Be Dissolved: Bloomberg (BAC)<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-mixed-by-late-trade\/46685\"><br \/>\nStocks Mixed By Late Trade<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-on-course-to-post-best-weekly-performance-in-last-one-month\/46677\"><br \/>\nGold Prices On Course to Post Best Weekly Performance in Last One Month<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-mainly-flat-by-midday-trade\/46675\"><br \/>\nStocks Mainly Flat By Midday Trade<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-open-lower\/46672\"><br \/>\nStocks Open Lower<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-dollar-recovers-as-yields-on-treasuries-soar\/46664\"><br \/>\nForex Market Update: Dollar Recovers As Yields On Treasuries Soar<\/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\/20130818200327im_\/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 higher on Friday and were heading towards clocking their best weekly performance in last one month as [&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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