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

Pre Market | Dow Jones | Gold | Newsletters | Learn

Yes, 3x ETFs are Awesome!
Like TNA, UGAZ, UWTI, NUGT? We do too...Join Up!
100% secure: your email is never shared, and you may opt out at any time.

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 2015 the year you get RICH!

Latest Headlines

Wall Street banks stick with September lift-off for Fed, maybe: Reuters pollWall Street banks stick with September lift-off for Fed, maybe: Reuters poll
NEW YORK (Reuters) - Wall Street`s top banks still target September for the Federal Reserve to raise interest rates for the first time in nearly a decade, but their conviction on that has diminished...
FTC approves Dollar Tree's takeover of Family DollarFTC approves Dollar Tree's takeover of Family Dollar
(Reuters) - Dollar Tree Inc <DLTR.O> was given the go-ahead to buy Family Dollar Stores Inc <FDO.N> by the U.S. Federal Trade Commission on condition that they sell 330 Family Dollar store...
Japan's corporate reforms burnish stocks, but bruise yen Japan's corporate reforms burnish stocks, but bruise yen
TOKYO (Reuters) - Japan`s efforts to boost its economy through better corporate governance has drawn foreign investors into its stock markets but with the unintended side-effect of weakening the yen...
Heinz completes Kraft purchase, Buffett joins boardHeinz completes Kraft purchase, Buffett joins board
(Reuters) - H.J. Heinz Co on Thursday completed its purchase of Kraft Foods Group Inc, creating the third largest food and beverage company in North America and fifth largest worldwide. The new comp...
Pimco Total Return Fund had $3 billion in net outflows in JunePimco Total Return Fund had $3 billion in net outflows in June
NEW YORK (Reuters) - The Pimco Total Return Fund, one of the world`s largest bond funds, posted $3 billion in net outflows in June, compared with $2.7 billion net withdrawals in May, Pimco said Thursd...

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.