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

Eric Cantor to join investment bank Moelis as vice chairmanEric Cantor to join investment bank Moelis as vice chairman
(Reuters) - Former U.S. House Majority Leader Eric Cantor will join investment bank Moelis & Co <MC.N> as vice chairman and managing director, the company said, adding that Cantor will also ...
Burger King has maneuvered to cut U.S. tax bill for yearsBurger King has maneuvered to cut U.S. tax bill for years
LONDON (Reuters) - Burger King may have taken a lot of flack in the past week for a deal that should curb its U.S. tax bill but in many ways it is consistent with the burger chain’s aggressive tax-r...
Insider traders in U.S. face longer prison terms, Reuters analysis showsInsider traders in U.S. face longer prison terms, Reuters analysis shows
NEW YORK (Reuters) - U.S. judges are imposing increasingly long prison terms for insider trading, a Reuters analysis shows. The rise is at least partly driven by the bigger profits being earned thro...
Australia central bank holds rates at record low 2.5 percentAustralia central bank holds rates at record low 2.5 percent
SYDNEY (Reuters) - Australia`s central bank kept its cash rate steady at a record low of 2.5 percent on Tuesday, a widely expected decision given it has repeatedly stated that policy would likely be o...
China won't force foreign auto parts makers to form local JVs: EU trade bodyChina won't force foreign auto parts makers to form local JVs: EU trade body
SHANGHAI (Reuters) - The European trade body in China said Beijing is not planning to force foreign auto parts suppliers operating in the country to form local joint ventures, dismissing a report last...

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.