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

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 2014 the year you get RICH!

Latest Headlines

Gucci's first-quarter comparable sales up 0.3 percentGucci's first-quarter comparable sales up 0.3 percent
PARIS (Reuters) - Gucci`s sales growth remained sluggish in the first three months of the year, hit in part by the brand`s upmarket repositioning and the lost sales resulting from the clean-up of its ...
U.S. FCC says new Internet rules will maintain transparency goalsU.S. FCC says new Internet rules will maintain transparency goals
NEW YORK (Reuters) - New rules on "net neutrality" are expected to allow Internet providers to negotiate agreements with content providers on the delivery of traffic to users as long as the deals they...
U.S. trade bank chief warns lawmaker 'political games' threaten exportsU.S. trade bank chief warns lawmaker 'political games' threaten exports
WASHINGTON (Reuters) - U.S. lawmakers will only hurt American exports and jobs by playing "political games" that threaten to shut down the U.S. Export-Import Bank, the bank`s president said on Thursda...
CORRECTED-Apple's sales boom in communist VietnamCORRECTED-Apple's sales boom in communist Vietnam
(Corrects period for sales in first paragraph) HANOI, April 24 (Reuters) - Communist Vietnam is suddenly Apple Inc`s hottest market after sales there tripled in its fiscal first half, a growth rate...
Nasdaq not yet subpoenaed in N.Y. high frequency trading probe: CEONasdaq not yet subpoenaed in N.Y. high frequency trading probe: CEO
NEW YORK (Reuters) - Nasdaq OMX Group Inc has not to date received a subpoena from the New York attorney general as part of its industrywide probe into allegedly unfair technological advantages on Wal...

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.