{"id":47066,"date":"2013-09-05T13:40:00","date_gmt":"2013-09-05T13:40:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-hammered-again-silver-prices-also-slip\/47062\/"},"modified":"2013-09-05T13:40:00","modified_gmt":"2013-09-05T13:40:00","slug":"gold-prices-hammered-again-silver-prices-also-slip","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/gold-prices-hammered-again-silver-prices-also-slip\/47066\/","title":{"rendered":"Gold Prices Hammered Again, 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<\/a> futures pared early gains and dipped to a two-week low level as the U.S. dollar rose sharply against major currencies following the release of some strong U.S. economic data.\u00a0 The European Central Bank\u2019s decision to keep its accommodative monetary policy intact also supported the U.S. unit, making dollar-priced commodities expensive for dealers holding other currencies. <a href=\"https:\/\/stockmarketwatch.com\/metal\/silver-price.aspx\" data-internallinksmanager029f6b8e52c=\"5\" title=\"silver price today\">Silver<\/a> prices also slipped in trading on Thursday.<\/p>\n<p><span id=\"more-47066\"><\/span><\/p>\n<p>At last check, gold futures for December delivery plunged 1.27% to $1,372.40 an ounce while spot gold tumbled 1.36% to $1,371.86 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 down 1.52% to $132.57.<\/p>\n<p>Silver futures fell 0.60% to $23.27 an ounce.<\/p>\n<p>A spate of solid economic data releases have further raised the possibility that the <a href=\"http:\/\/www.knowfinance.com\/federal-reserve-system-fed\/\" target=\"_blank\" rel=\"noopener\">Federal Reserve<\/a> could begin the tapering of its asset purchases by September.<\/p>\n<p>While weekly first time jobless claims fell more-than-expected, the Institute of Supply Management\u2019s non-manufacturing PMI Index climbed to its highest level since December 2005 in August.<\/p>\n<p>Separately, the Automatic Data Processing\u2019s (ADP) private sector job report showed 176,000 new payroll additions, which almost matched economists\u2019 forecast.<\/p>\n<p>Now, the entire focus will shift to Friday\u2019s non-farm payrolls report. The data is expected to provide a strong clue over when and at what pace the Fed might start scaling down its economic stimulating measures.<\/p>\n<p>Gold Prices will come under more pressure should the Fed starts adopting more hawkish stance. This is because; a tighter monetary policy will spike <a href=\"https:\/\/thestockmarketwatch.com\/markets\/bonds\/today.aspx\">interest rates<\/a> which in turn make gold less appealing since it is a non-interest bearing asset. Besides, a stronger dollar (due to favorable interest rate differentials) will also weigh on gold\u2019s prices.<\/p>\n<div class=\"nr_popular_placeholder\" data-permalink=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-hammered-again-silver-prices-also-slip\/47066\" data-title=\"Gold Prices Hammered Again, 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\/20130910003243js_\/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\/john-wiley-sons-maintain-full-year-outlook\/47138\"><br \/>\nJohn Wiley &#038; Sons Maintain Full-Year Outlook<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/koch-industries-to-acquire-molex-for-7-2-billion\/47137\"><br \/>\nKoch Industries To Acquire Molex For $7.2 Billion<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-futures-almost-flat-silver-slips\/47135\"><br \/>\nGold Futures Almost Flat, Silver Slips<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-higher-in-mid-day-trading-dow-crosses-15000-level\/47132\"><br \/>\nStocks Higher in Mid-Day Trading, Dow Crosses 15,000 Level<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-higher-in-early-trade-2\/47129\"><br \/>\nStocks Higher in Early Trade<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-dollar-index-edges-down\/47127\"><br \/>\nForex Market Update: Dollar Index Edges Down<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-ease-slightly-silver-prices-slip-as-well\/47120\"><br \/>\nGold Prices Ease Slightly, Silver Prices Slip As Well<\/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\/20130910003243im_\/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 pared early gains and dipped to a two-week low level as the U.S. dollar rose sharply against major [&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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