Stock:
Symbol Lookup
Register | Login
...
History
...
...

Pre Market | Dow Jones | Gold | Newsletters | Learn


Gold and Silver Prices Up as U.S. Dollar Falls Moderately

Thursday, January 10, 2013 7:53 AM
Gold prices edged higher during Asian trading hours on Thursday thanks to slightly weaker dollar even as investors keenly wait for the European Central Bank’s (ECB) policy statement. Silver prices also gained in early trading on Thursday. At around 6:00 a.m. EST, gold futures for February delivery gained 0.45% to $1,663.00 an ounce and spot gold edged up 0.28% to $1,661.44 an ounce. Even though the ECB is expected to keep  the benchmark interest rate unchanged;  some economists are of the view that the monetary union’s central bank could offer hint on further rate cuts in upcoming quarters as the region still grapple with stagnated economy. On Wednesday, an economic data release showed that Germany’s industrial production rose by mere 0.2 percent in November, falling well below economists’ anticipation of 1 percent growth. Global central banks have kept very accommodating monetary policies lately and that has been the driving force behind gold’s bull runs.  2012 was the 12th successive gainful year for the bullion investors. An environment of low interest rates and rampant currency printing (quantitative easing) spikes inflationary fears, which in turn boosts the demand for inflation-hedge bets such as gold. However, the metal has been under pressure since last week when Fed’s minutes from its latest FOMC showed that several  officials were worried about unbridled asset purchases  by central bank from financial markets even as Fed’s balance sheet keeps on ballooning. Gold prices have hovered in the tight range of $25 an ounce all though this week. “The market got a little concerned about how aggressive the Fed will be,” said Jeremy Friesen, commodity strategist at Societe Generale in Hong Kong to Thomson Reuters. Meanwhile, the U.S. dollar slipped against all major traded currencies on Thursday making dollar-priced commodities cheaper for traders dealing in currencies other than the U.S. unit. The ICE Dollar Index, a gauge on U.S. dollar’s performance against a basket of six major traded currencies, slipped 0.22% to 80.37. Silver futures climbed 0.88% to $30.16 an ounce. In pre-market trading, iShares Silver Trust (ETF) (NYSE: SLV) was up 0.34% to $29.45.
PRINT

FREE Options Trading Lessons
I'll show you how to unlock HUGE Gains with Options Trading
Let's make 2015 the year you get RICH!

Latest Headlines

Market uncertainty tempers forecasts for equities' gains this yearMarket uncertainty tempers forecasts for equities' gains this year
(Reuters) - Uncertainty surrounding the timing of the U.S. Federal Reserve`s interest rate hike has tempered analysts` forecasts for stock market gains this year, Reuters polls showed on Tuesday. ...
Germanwings disaster will not affect image of budget air travel: easyJet Germanwings disaster will not affect image of budget air travel: easyJet
AMSTERDAM (Reuters) - The disaster at budget airline Germanwings which killed 150 people will not harm the image of low-cost air travel in Europe, easyJet <EZJ.L> chief executive Carolyn McCal...
Autonomy former-CEO counter sues HP after it lodges $5.1 billion claim Autonomy former-CEO counter sues HP after it lodges $5.1 billion claim
LONDON (Reuters) - British IT entrepreneur Mike Lynch will file a counter claim against HP <HPQ.N>, he said on Tuesday, a day after the U.S. company lodged a claim against him and his former col...
U.S. consumer confidence surges in MarchU.S. consumer confidence surges in March
NEW YORK (Reuters) - U.S. consumer confidence unexpectedly rebounded strongly in March, according to a private sector report released on Tuesday. The Conference Board, an industry group, said its in...
If you're going to San Francisco, Zillow CEO has some tipsIf you're going to San Francisco, Zillow CEO has some tips
NEW YORK (Reuters) - For Zillow Group Inc CEO Spencer Rascoff, San Francisco used to be home. These days, he frequents the city by the bay as a business traveler from the Seattle headquarters of Zil...

Loading Headlines...
 

Stock Market

Track the stock market today with the latest news and information on all things investing! Watch your stocks perform throughout the day and watch the breaking stock market news.

Feedback | disclaimer | privacy policy

Stock Market News

The Stock Market is ever changing. Keep up on your stock market news.

Stock Market Newsletters

Read up on your favorite stock market newsletters.


Learn the Stock Market

Sharper your stock trading skills with our stock market education section.

Algorithm Based
Trade Signals
arrow
small cap swing trades SmallCaps stocks under $10
Index Signals Index Signals SPY, QQQ, DIA, IWM
options trading Mega Stocks options + stock trade signals
AppleStock FREE AAPL Signals realtime daytrade signals