{"id":47164,"date":"2013-09-10T13:44:00","date_gmt":"2013-09-10T13:44:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-plunge-more-than-1-50-as-investors-cut-safe-haven-bets\/47156\/"},"modified":"2013-09-10T13:44:00","modified_gmt":"2013-09-10T13:44:00","slug":"gold-prices-plunge-more-than-1-50-as-investors-cut-safe-haven-bets","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/gold-prices-plunge-more-than-1-50-as-investors-cut-safe-haven-bets\/47164\/","title":{"rendered":"Gold Prices Plunge More Than 1.50% As Investors Cut Safe Haven Bets"},"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> were walloped on Tuesday, touching a near three-week low level as investors cut positions on safe-haven bets, in hordes, after Syria accepted \u00a0Moscow\u2019s proposal to allow international observers to scrutinize its weapons program, which in turn could avert a U.S. military intervention against Assad\u2019s regime.<\/p>\n<p><span id=\"more-47164\"><\/span><\/p>\n<p>At last check, gold futures for December delivery plunged 1.62% to $1,364.30 an ounce while spot gold tumbled 1.66% to $1,363.86 an ounce.<\/p>\n<p>The SPDR Gold Trust (ETF) (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=GLD\">NYSE: GLD<\/a>) was last down 1.61% to $131.75.<\/p>\n<p><a href=\"https:\/\/stockmarketwatch.com\/metal\/silver-price.aspx\" data-internallinksmanager029f6b8e52c=\"5\" title=\"silver price today\">Silver<\/a> futures fell 2.88% to $23.04 an ounce.<\/p>\n<p>In a note to investors, Robin Bhar, an analyst at Societe Generale said, \u201cThe whole reason gold rallied in the last few weeks has been on the back of the Middle East tension and the rise in the oil price, but that now is going into reverse with the possibility of an agreement,&#8221; according to Reuters.<\/p>\n<p>Meanwhile, The White House said that the U.S. would \u201cexplore seriously the viability of the Russian proposal\u201d and start discussions over the matter on Tuesday at the U.N. on a potential resolution by the Security Council.<\/p>\n<p>Besides, ambiguity over what will be the <a href=\"http:\/\/www.knowfinance.com\/federal-reserve-system-fed\/\" target=\"_blank\" rel=\"noopener\">Federal Reserve<\/a>\u2019s stance on ongoing bond purchase program is also keeping investors at bay. The Fed is scheduled to hold its next open market committee meeting (FOMC) on September 17-18.<\/p>\n<p>The Fed\u2019s ultra-loose monetary policy was the main factor behind gold\u2019s bull runs since 2008\/09 as low <a href=\"https:\/\/thestockmarketwatch.com\/markets\/bonds\/today.aspx\">interest rates<\/a> prompted investors to invest in non-interest bearing assets such as gold.<\/p>\n<div class=\"nr_popular_placeholder\" data-permalink=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-plunge-more-than-1-50-as-investors-cut-safe-haven-bets\/47164\" data-title=\"Gold Prices Plunge More Than 1.50% As Investors Cut Safe Haven Bets\"><\/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\/20130913173100js_\/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-held-gains-nasdaq-pare-early-losses\/47240\"><br \/>\nStocks Held Gains, NASDAQ Pare Early Losses<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-dollar-index-up-despite-weak-economic-data\/47239\"><br \/>\nForex Market Update: Dollar Index Up Despite Weak Economic Data<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-edge-higher-5\/47236\"><br \/>\nStocks Edge Higher<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-on-course-to-post-worst-weekly-performance-in-last-8-weeks-silver-prices-down-as-well\/47229\"><br \/>\nGold Prices On Course To Post Worst weekly Performance in last 8 weeks, Silver Prices Down As Well<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/futures-point-to-a-flat-start-4\/47227\"><br \/>\nFutures Point to a Flat Start<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/united-natural-foods-q4-profit-rise-28-results-top-estimates\/47224\"><br \/>\nUnited Natural Foods Q4 Profit Rise 28%, Results Top Estimates<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/ulta-salon-posts-better-than-expected-q2-results\/47222\"><br \/>\nUlta Salon Posts Better-Than-Expected Q2 Results<\/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\/20130913173100im_\/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 were walloped on Tuesday, touching a near three-week low level as investors cut positions on safe-haven bets, in [&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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