Symbol Lookup
Register | Login

Pre Market | Dow Jones | Gold | Newsletters | Learn

Gold Futures Edge Up, Silver Prices Gain

Friday, June 14, 2013 7:59 AM
Gold futures pared initial weakness to turn slightly higher during Asian trading hours on Friday; however, trading is likely to remain choppy as investors remain clueless over when the Federal Reserve would start winding down its bond purchase program. Spot gold however traded down as demand from China and India is showing cooling off. Silver prices, meanwhile, edged higher in early trading on Friday. At last check, gold futures for August delivery fell 0.15% to $1,379.80 an ounce while spot gold fell 0.42% to $1,379.66 an ounce. Silver futures gained 0.45% to $21.68 an ounce. Gold futures fell 1% on Thursday following the release of two stronger than expected U.S. economic data releases. While the Labor Department’s weekly jobless claims fell to 334,000 from 346,000 in the previous week, retail sales rose 0.6% in May, topping analysts’ forecast for 0.3%. The unexpectedly strong economic data release stoked speculation that the Fed might soon start pulling back its multi-billion dollar bond purchase program. The metal has been under constant pressure ever since the Fed’s Chairman, Ben Bernanke said that the central bank could start scaling down its monetary easing measures (QE3) in coming months, should the U.S. job and housing markets continue to show improvement. The Federal Reserve is expected to hold its next Federal Open Market Committee meeting (FOMC) on June 18-19. Still, market analysts are divided over whether the Fed would start decelerating the pace of economic stimulating measures at this juncture or wait for some time. “With unemployment rates still high, I don't think they will remove the easing that soon, maybe next year,” said Brian Lan, managing director of Singapore-based dealer GoldSilver Central, according to Reuters. A data provided by Reuters showed that the holdings of the SPDR Gold Trust (ETF) (NYSE: GLD), world’s largest gold-backed ETF, dropped 0.63 percent to 1,003.53 tons on Thursday.  

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

EU trade negotiators aim for 2016 U.S. trade pactEU trade negotiators aim for 2016 U.S. trade pact
BRUSSELS (Reuters) - European negotiators are aiming to finalise a trade pact with the United States in 2016 in "an optimistic scenario", EU Trade Commissioner Cecilia Malmstrom said on Tuesday. If ...
Kellogg sales beat estimates as it sells more in LatamKellogg sales beat estimates as it sells more in Latam
(Reuters) - Corn Flakes and Rice Krispies maker Kellogg Co <K.N> reported better-than-expected quarterly net revenue as higher sales in Latin America made up for lower demand for its cereals and...
TeamHealth to buy IPC Healthcare in $1.6 billion dealTeamHealth to buy IPC Healthcare in $1.6 billion deal
(Reuters) - TeamHealth Holdings Inc <TMH.N>, which supplies doctors to U.S. hospitals, said it would buy IPC Healthcare Inc <IPCM.O> in a deal valued at $1.6 billion. TeamHealth is offer...
Drugmaker Shire bids $30 billion for Baxter spin-off BaxaltaDrugmaker Shire bids $30 billion for Baxter spin-off Baxalta
LONDON (Reuters) - Drugmaker Shire <SHP.L> said on Tuesday it was seeking to buy Baxalta <BXLT.N>, a company spun-off by Baxter International <BAX.N> last month, for $30 billion (£...
Shire proposes $30 bln all-share tie-up with BaxaltaShire proposes $30 bln all-share tie-up with Baxalta
LONDON (Reuters) - London-listed pharmaceutical group Shire <SHP.L> said it was seeking to buy U.S. firm Baxalta <BXLT.N> in a $30 billion all-share deal to create a global specialist in m...

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.