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

ECB's Noyer urges vigilance on low rates, volatility for banksECB's Noyer urges vigilance on low rates, volatility for banks
PARIS (Reuters) - The risks related to market volatility and low interest rates merit special attention for the banking sector, ECB governing council member Christian Noyer said on Tuesday. Speaking...
ECB's Visco says deflation fears eased but asset purchases must go onECB's Visco says deflation fears eased but asset purchases must go on
ROME (Reuters) - The European Central Bank must continue its asset-purchasing program to ensure that euro area inflation returns to target levels, despite signs that deflation fears have eased, ECB go...
AstraZeneca hit after psoriasis drug linked to suicide fearsAstraZeneca hit after psoriasis drug linked to suicide fears
LONDON (Reuters) - AstraZeneca`s <AZN.L> hopes of topping $45 billion in revenue by 2023 have been dealt a blow by a problem with an experimental psoriasis drug that the drugmaker had viewed a...
Skype summoned to Belgian court over failure to share call dataSkype summoned to Belgian court over failure to share call data
BRUSSELS (Reuters) - Online communication service Skype <MSFT.O> has been summoned to appear in court in Belgium after refusing to pass on customer data to aid a criminal investigation, a court ...
First defendant in Libor scandal faces jury trial in LondonFirst defendant in Libor scandal faces jury trial in London
LONDON (Reuters) - Tom Hayes, a former star trader at UBS and Citigroup, becomes on Tuesday the first person to face trial by jury over allegations he conspired to rig global Libor interest rates. ...

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
swing trades FREE Swing Trade Ideas Clear, simple swing trades.
small cap swing trades Futures Day Trading System S&P + Crude Oil Signals
Autotrading Autotrade Stocks Try for Free!