{"id":47794,"date":"2013-10-10T08:02:00","date_gmt":"2013-10-10T08:02:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-trade-near-1300-an-ounce-silver-prices-flat\/47791\/"},"modified":"2013-10-10T08:02:00","modified_gmt":"2013-10-10T08:02:00","slug":"gold-prices-trade-near-1300-an-ounce-silver-prices-flat","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/gold-prices-trade-near-1300-an-ounce-silver-prices-flat\/47794\/","title":{"rendered":"Gold Prices Trade Near $1,300 an Ounce, Silver Prices Flat"},"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> dropped further and hovered near $1,300 an ounce level during Asian trading hours on Thursday as demand for safe-haven bets failed to pick up in spite of partial government shutdown. <a href=\"https:\/\/thestockmarketwatch.com\/metal\/silver-price.aspx\">Silver prices<\/a>, meanwhile, were flat in early trading on Thursday.<\/p>\n<p><span id=\"more-47794\"><\/span><\/p>\n<p>At last check, gold futures for December delivery fell 0.44% to $1,301.50 an ounce while spot gold edged down 0.31% to $1,302.51 an ounce.<\/p>\n<p>The SPDR Gold Trust (ETF) (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=GLD\" target=\"_blank\" rel=\"noopener\">NYSE: GLD<\/a>) fell 0.35% in <a href=\"https:\/\/stockmarketwatch.com\/markets\/pre-market\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Premarket Movers\">premarket<\/a> trading to $125.67.<\/p>\n<p><a href=\"https:\/\/stockmarketwatch.com\/metal\/silver-price.aspx\" data-internallinksmanager029f6b8e52c=\"5\" title=\"silver price today\">Silver<\/a> futures were mainly flat at $21.89 an ounce.<\/p>\n<p>The widespread expectation that lawmakers will reach an eleventh-hour deal to resolve the debt-ceiling issue is weighing on the sentiment. On Wednesday, President Barack Obama began meetings with congressional leaders to resolve the U.S. budget crisis.<\/p>\n<p>Adding to the woes were the minutes from the latest open market committee meeting (FOMC).<\/p>\n<p>The <a href=\"http:\/\/www.knowfinance.com\/federal-reserve-system-fed\/\" target=\"_blank\" rel=\"noopener\">Federal Reserve<\/a>\u2019s latest minutes, which were released on Wednesday, showed that most of the policymakers were in favor of pulling back the multi-billion dollar asset purchase program or quantitative easing.<\/p>\n<p>Lackluster physical side demand in Asia is also building the pressure. Bullion investors are now worried about what could support level be if lawmakers do reach a budget-deal.<\/p>\n<p>Speaking to Reuters, Yuichi Ikemizu, branch manager for Standard Bank in Tokyo said, \u201cThe fact that gold is not going up even with the shutdown is a bad sign. The mood in the market is bearish.\u201d<\/p>\n<p>\u201cEven at this $1,300 level we don&#8217;t see much physical buying. It doesn&#8217;t look too good for gold,\u201d added Ikemizu.<\/p>\n<p>In some other previous metal markets, platinum prices gained sharply on Wednesday as strike in South African mines has once again raised supply-chain concerns.<\/p>\n<div class=\"nr_popular_placeholder\" data-permalink=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-trade-near-1300-an-ounce-silver-prices-flat\/47794\" data-title=\"Gold Prices Trade Near $1,300 an Ounce, Silver Prices Flat\"><\/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\/20131013102707js_\/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\/blackstone-kkr-among-many-firms-bidding-for-a-minority-stake-in-versace-reuters\/47854\"><br \/>\nBlackstone, KKR among Many Firms Bidding for a Minority Stake in Versace: Reuters<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/wells-fargo-q3-profit-up-13-as-provisions-for-bad-loans-fall-sharply\/47851\"><br \/>\nWells Fargo Q3 Profit up 13% as Provisions for Bad Loans Fall Sharply<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-end-higher-for-a-second-straight-trading-session\/47846\"><br \/>\nStocks End Higher for a Second Straight Trading Session<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-post-3-4-weekly-loss-as-lawmakers-nears-debt-deal-silver-prices-tumble\/47842\"><br \/>\nGold Prices Post 3.4% Weekly Loss as Lawmakers Nears Debt-Deal; Silver Prices Tumble<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-bounce-back-after-a-shaky-start-2\/47840\"><br \/>\nStocks Bounce Back after a Shaky Start<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-mainly-flat-in-early-trade\/47837\"><br \/>\nStocks Mainly Flat in Early Trade<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-dollar-index-slips\/47835\"><br \/>\nForex Market Update: Dollar Index Slips<\/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\/20131013102707im_\/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 dropped further and hovered near $1,300 an ounce level during Asian trading hours on Thursday as demand for [&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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