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

Pre Market | Dow Jones | Gold | Newsletters | Learn


Gold Prices Fall Sharply; Silver Prices also Tumble

Tuesday, October 23, 2012 3:37 PM
Gold prices fell sharply in trading on Tuesday, tracking losses in the equity markets. The precious metal slipped amid rising worries over the global economy. Silver prices also fell sharply on Tuesday. Gold fell below its 50-day moving average, which is a key support level. Speaking to Reuters, Jeffrey Sherman, Commodities Portfolio Manager at DoubleLine Capital LP, said that gold behaved like every other risk asset on Tuesday. Sherman said that the negative sentiment around the Moody’s downgrades on Spain has peeled back all risk markets. On Monday, ratings agency Moody’s downgraded five Spanish regions due their limited cash reserves and upcoming bond repayments. Spot gold fell 1.3% to $1,706.20 an ounce on Tuesday. Gold futures for delivery in December on the Comex division of the New York Mercantile Exchange fell $16.90 to settle at $1,709.40 an ounce. Silver prices also tumbled on Tuesday. At last check, spot silver was down 2.2% to $31.69 an ounce. In late trading on Tuesday, the iShares Silver Trust (ETF) (NYSE: SLV) was down 2.39%, the ProShares Ultra Silver (ETF) (NYSE: AGQ) was down 4.77%, and the ProShares UltraShort Silver (ETF) (NYSE: ZSL) was up 5.03%. Platinum and palladium also dropped on Tuesday. At last check, spot platinum was trading 2.1% lower at $1,568.25 an ounce, while spot palladium was trading 4.3% lower at $592.72 an ounce.  
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

Takata says has sufficient funds to deal with recalls: NikkeiTakata says has sufficient funds to deal with recalls: Nikkei
TOKYO (Reuters) - Air bag maker Takata Corp <7312.T> has sufficient funds to deal with a global recall that has climbed to about 21 million vehicles after five deaths linked to its products, the...
Nissan recalls autos in Mexico to check Takata air bagsNissan recalls autos in Mexico to check Takata air bags
MEXICO CITY (Reuters) - Automaker Nissan <7201.T> said on Wednesday it has ordered the recall more than 80,000 vehicles sold in Mexico to check for potential defects stemming from air bags made ...
Nissan recalls autos in Mexico to check Takata air bagsNissan recalls autos in Mexico to check Takata air bags
MEXICO CITY (Reuters) - Nissan Motor Co Ltd <7201.T> said on Wednesday it has ordered the recall of more than 80,000 vehicles sold in Mexico to check for potential defects stemming from air bags...
China November home prices fall 3.7 percent year-on-yearChina November home prices fall 3.7 percent year-on-year
BEIJING (Reuters) - Average new home prices in China`s 70 major cities fell 3.7 percent in November from a year earlier, the third consecutive month showing an annual fall, according to Reuters calcul...
Japan to provide $25 billion stimulus to support regional economies: mediaJapan to provide $25 billion stimulus to support regional economies: media
TOKYO (Reuters) - Japan will spend over 3 trillion yen ($25 billion) in a stimulus package aimed at reviving regional economies hit by slumping household spending after a sales tax hike in April, the ...

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
small cap swing trades SmallCaps stocks under $10
Index Signals Index Signals SPY, QQQ, DIA, IWM
options trading Mega Stocks options + stock trade signals
Forex Forex Signals major FX pairs signals