{"id":47321,"date":"2013-09-18T13:39:00","date_gmt":"2013-09-18T13:39:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-slip-ahead-of-feds-decision-on-tapering-silver-prices-also-fall-sharply\/47319\/"},"modified":"2013-09-18T13:39:00","modified_gmt":"2013-09-18T13:39:00","slug":"gold-prices-slip-ahead-of-feds-decision-on-tapering-silver-prices-also-fall-sharply","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/gold-prices-slip-ahead-of-feds-decision-on-tapering-silver-prices-also-fall-sharply\/47321\/","title":{"rendered":"Gold Prices Slip Ahead of Fed\u2019s Decision on Tapering; Silver Prices Also Fall Sharply"},"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> hovered near $1,300 an ounce level mark on Wednesday as investors remained in sidelines ahead of the <a href=\"http:\/\/www.knowfinance.com\/federal-reserve-system-fed\/\" target=\"_blank\" rel=\"noopener\">Federal Reserve<\/a>\u2019s policy rate statement. <a href=\"https:\/\/stockmarketwatch.com\/metal\/silver-price.aspx\" data-internallinksmanager029f6b8e52c=\"5\" title=\"silver price today\">Silver<\/a> prices also fell sharply in trading on Wednesday.<\/p>\n<p><span id=\"more-47321\"><\/span><\/p>\n<p>At last check, gold futures for December delivery edged down 0.51% to $1,302.70 an ounce while spot gold slipped 0.07% to $1,308.15 an ounce.<\/p>\n<p>SPDR Gold Trust (ETF) (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=GLD\" target=\"_blank\" rel=\"noopener\">NYSE: GLD<\/a>) was almost flat at $126.52<\/p>\n<p>The Fed\u2019s two-day Open Market Committee Meeting will conclude at 2:00 p.m. EST, which will be followed by its Chairman, Ben Bernanke\u2019s press conference at 2:30 p.m. EST.<\/p>\n<p>Market Participants are anticipating the Fed to reduce the pace of its bond purchase program (Quantitative easing), although mildly. Speculation is rife that the Fed will initially scale down the $85 billion monthly bond purchase program by $10 billion to $15 billion.<\/p>\n<p>\u201cWe expect a cautious statement from the Fed not to shock the market, but gold will nonetheless continue to drop in coming weeks to around $1,250 in October, as financial liquidity starts to be removed,\u201d said Natixis analyst Bernard Dahdah, according to Reuters.<\/p>\n<p>The Fed\u2019s extremely accommodating monetary policy was the main supporting factor behind the metal\u2019s bull runs for last 12 successive years. Lower <a href=\"https:\/\/thestockmarketwatch.com\/markets\/bonds\/today.aspx\">interest rates<\/a> encouraged investors to take bets on gold, which is a non-interest bearing asset.<\/p>\n<p>However, lack of inflationary pressure, relatively better global macroeconomic environment and expectation for an end of easy-money policy, have all weighed heavily on the metal prices.<\/p>\n<p>The metal has lost\u00a0 about 20% since the beginning of the year.<\/p>\n<p>Meanwhile, in Asia, the physical side demand has subsided. Traders, according to Reuters, said that immense volatility in cash gold prices was holding back\u00a0 dealers\/jeweler.<\/p>\n<p>Silver futures plunged 1.35% to $21.49 an ounce.<\/p>\n<p>In late trading, the iShares Silver Trust (ETF) (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=SLV\" target=\"_blank\" rel=\"noopener\">NYSE: SLV<\/a>) was down 0.81% to $20.79, and the ProShares Ultra Silver (ETF) (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=AGQ\" target=\"_blank\" rel=\"noopener\">NYSE: AGQ<\/a>) was down 1.87%.<\/p>\n<p>&nbsp;<\/p>\n<div class=\"nr_popular_placeholder\" data-permalink=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-slip-ahead-of-feds-decision-on-tapering-silver-prices-also-fall-sharply\/47321\" data-title=\"Gold Prices Slip Ahead of Fed\u2019s Decision on Tapering; Silver Prices Also Fall Sharply\"><\/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\/20130920190124js_\/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\/bullards-remarks-rattle-bullion-investors-gold-prices-plunge-more-than-2-silver-prices-down-about-5\/47373\"><br \/>\nBullard\u2019s Remarks Rattle Bullion Investors; Gold Prices Plunge More Than 2%, Silver Prices Down About 5%<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-swings-to-negative-territory\/47371\"><br \/>\nStocks Swings To Negative Territory<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-dollar-index-gains-as-panic-sell-off-halts\/47366\"><br \/>\nForex Market Update: Dollar Index Gains as Panic Sell-Off Halts<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-mixed-in-early-trade-2\/47363\"><br \/>\nStocks Mixed in Early Trade<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-ease-silver-prices-down-as-well\/47359\"><br \/>\nGold Prices Ease, Silver Prices Down As Well<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/futures-point-to-a-flat-start-5\/47357\"><br \/>\nFutures Point to a Flat Start<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/tibco-software-q3-results-beat-expectations\/47354\"><br \/>\nTIBCO Software Q3 Results Beat Expectations<\/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\/20130920190124im_\/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 hovered near $1,300 an ounce level mark on Wednesday as investors remained in sidelines ahead of the Federal 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