Stock:
Symbol Lookup
Register | Login My Watchlist | My Account | Logout
History
to View Your Portfolio

Pre Market | Dow Jones | Gold | Newsletters | Learn


Gold Prices Almost Flat, Silver Prices Gain

Friday, February 8, 2013 8:50 AM
Amid thin trading, gold prices swung between small gains and losses during Asian trading hours on Friday.  Steadier equity markets following strong trade data from China, bargain haunting along with weaker U.S. dollar helped metal to recover some of the lost ground on Friday. Silver prices, meanwhile, edged higher in early trading on Friday. At around 6:30 a.m. EST, gold futures for April delivery slipped 0.04% to trade at $1,670.80 an ounce while spot gold was almost flat at $$1,670.34 an ounce. Earlier on Thursday gold futures swung wildly in the larger range of $20 an ounce to settle 0.5% lower at $1,671.30 an ounce. The sell-off pressure came when the European Central Bank’s President Mario Draghi , said in a press conference that euro zone economy, although looking well on course to pick up the momentum from the second half of 2013, was susceptible to some headwinds. The remarks immediately weighed on the euro which slumped nearly 1% against the U.S. dollar while other riskier assets such as equities, other precious metals and commodities along with safe haven asset bullion -- fell in tandem as market participants feared possible recession. However, bullion received support from weaker U.S. dollar on Friday.  The greenback slipped against most widely traded currencies on Friday. The WSJ$ Index was falling 0.44%, at last check. Typically, a weaker dollar pushes the demand for dollar-dominated commodities since holders of other currencies find them cheaper to buy. A better than expected Chinese trade data for the month of January also helped to alleviate investors’ concerns over possible deceleration in the global economy. Meanwhile platinum group metals continued to extend losses on Friday. Both metals have rallied so far this year thanks to improving outlook on the global industrial production. Platinum and palladium are used as auto-catalysts. Silver futures gained 0.39% to $31.525 an ounce. In pre-market trading, the iShares Silver Trust (ETF) (NYSE: SLV) was up 0.20%, and the ProShares Ultra Silver (ETF) (NYSE: AGQ) was up 0.51%.
PRINT

FREE Options Trading Lessons
I'll show you how to unlock HUGE Gains with Options Trading
Let's make 2016 the year you get RICH!

Latest Headlines

Fed's Dudley says reasonable to expect two rate hikes this yearFed's Dudley says reasonable to expect two rate hikes this year
(Reuters) - The Federal Reserve might still raise U.S. interest rates twice this year, New York Federal Reserve President William Dudley said on Friday. Two rate hikes remain a "reasonable expectati...
Fiat Chrysler CEO says new Ram pickup to begin sales by January 2018Fiat Chrysler CEO says new Ram pickup to begin sales by January 2018
WINDSOR, Ont. (Reuters) - Fiat Chrysler Automobiles Chief Executive Officer Sergio Marchionne said the company`s next-generation Ram pickup truck will go on sale by January 2018. Speaking to reporte...
ECB's Visco says ultra-low rates drives risk takingECB's Visco says ultra-low rates drives risk taking
FLORENCE, Italy (Reuters) - Keeping interest rates low for a long time encourages investors to buy riskier assets in an effort to boost their earnings, but this is not necessarily a bad thing, ECB Gov...
Activist investor TCI tells VW to overhaul board pay, operationsActivist investor TCI tells VW to overhaul board pay, operations
LONDON (Reuters) - Activist investor TCI upped the pressure on loss-making German carmaker Volkswagen (VW) on Friday, demanding it overhaul its "excessive" executive pay scheme as part of a plan to bo...
Bitcoin has a governance problem, no matter who created itBitcoin has a governance problem, no matter who created it
LONDON (Reuters) - As one would-be father of bitcoin falls by the wayside, squabbling among the web-based currency`s lead developers is exposing a fundamental flaw: it must evolve to meet growing dema...

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.

{localized={en_US=Terry}, preferredLocale={country=US, language=en}} {localized={en_US=Scott}, preferredLocale={country=US, language=en}}

Terry Scott
CEO of StockMarketWatch

View Profile


Learn the Stock Market

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

Be a Better
Trader, Today
arrow
PreMarket PRO Our New Streaming Realtime Pre-Market Product -- Click Here to Learn More