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

Pre Market | Dow Jones | Gold | Newsletters | Learn

Like Small Cap Stocks < $20?
You should, we just banked a 30% winner in 2 days!
100% secure: your email is never shared, and you may opt out at any time.

Gold Prices Extend Losses, Silver Prices also Down

Tuesday, February 12, 2013 9:01 AM
Gold prices continued to slide during Asian trading hours on Tuesday, after plunging to its lowest level in last 5 weeks in the preceding session as bargain hunting was missing in the backdrop of Chinese Lunar Year celebrations while North Korea’s third successful nuclear test also failed to generate any fresh demand for safe haven bids. At around 7:00 a.m. EST, gold futures for April delivery fell 0.15% to $1646.70 an ounce while spot gold inched up 0.08% to $1648.90 an ounce. Although markets in Japan and South Korea reopened on Tuesday, markets in mainland China along with Hong Kong, Singapore, and Taiwan were shut as people celebrate weeklong Chinese New-year holidays. Earlier today North Korea confirmed that it has successfully carried its third nuclear test; however, the news failed to trigger any panic reaction from the neighboring countries like Japan. “Nobody in Japan is interested in buying or selling based on this news,” said a physical dealer at one of Japan's main bullion houses, while speaking to Thomson Reuters. Tokyo gold futures edged down 42 yen to trade at 4,988 yen a gram as speculators closed positions in order to book profits after last week’s rally when its benchmark gold contract hit the record high of 5,081 yen a gram. Physical demand was also weak in Asia which was reflected by declining prices. Gold bars remained at a discount of between 75 cents to $1 to spot prices in London, showed a data provided by Thomson Reuters. Meanwhile bullion investors will keep a close eye on the G7 Summit, scheduled to start later this week. Investors will be hoping to get a clear direction from leaders from the most industrialized nations on how they intend to fix the mechanism for the currency markets, more importantly euro. Lately, gold prices, in the absence of any bullion friendly news, have tended to follow fluctuations in currency markets. Silver futures lost 0.23% to $30.84 an ounce. In pre-market trading, the iShares Silver Trust (ETF) (NYSE: SLV) was down 0.33% to $29.90, and the ProShares Ultra Silver (ETF) (NYSE: AGQ) was down 0.55% to $45.26.
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

Japan June retail sales rise 0.9 percent year/yearJapan June retail sales rise 0.9 percent year/year
TOKYO (Reuters) - Japanese retail sales rose 0.9 percent in June from a year earlier, more than a median market forecast for a 0.5 percent annual increase, government data showed on Wednesday. (Repo...
Exclusive: TreeHouse, Post join ConAgra's private label auction - sourcesExclusive: TreeHouse, Post join ConAgra's private label auction - sources
(Reuters) - ConAgra Foods Inc <CAG.N> has started talks with TreeHouse Foods Inc <THS.N> and Post Holdings Inc <POST.N> regarding the sale of its private label unit Ralcorp, which ...
P&G says David Taylor to replace A.G. Lafley as CEOP&G says David Taylor to replace A.G. Lafley as CEO
(Reuters) - Procter & Gamble Co veteran David Taylor will replace A.G. Lafley as chief executive in a widely expected move that coincides with a massive overhaul at the world`s largest household p...
Wall Street watchdog bars former Merrill Lynch broker Tom BuckWall Street watchdog bars former Merrill Lynch broker Tom Buck
NEW YORK (Reuters) - Tom Buck, the former top Indiana securities broker who was fired by Bank of America Merrill Lynch in March, has been permanently barred from the securities industry by the Financi...
Wall Street not giving up on U.S. social impact bondsWall Street not giving up on U.S. social impact bonds
(Reuters) - Wall Street firms like Deutsche Bank <DBKGn.DE>, Santander Bank and Bank of America <BAC.N> are still interested in backing U.S. social impact bonds, despite the failure of t...

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.