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

Pre Market | Dow Jones | Gold | Newsletters | Learn


Gold Prices Fall Sharply; Silver Prices also Tumble

Wednesday, July 24, 2013 2:58 PM
Gold prices fell sharply in trading on Wednesday as the U.S. dollar strengthened. Silver prices also fell sharply. Gold prices had climbed to a one-month high on Tuesday as concerns over an early-end to Federal Reserve’s bond buying program eased a little. However, the precious metal reversed some of its recent gains on profit booking. Speaking to Reuters, Afshin Nabavi, Head of Trading at MKS, said that this is a breather we desperately needed. Nabavi believes that $1,300-$1,350 an ounce ought to remain the range until August 2’s non-farm payrolls data. He added that if the number is bad for the dollar, then gold prices could test $1,400 an ounce. Nabavi noted that $1,300 an ounce will remain a strong support for the precious metal. At last check on Wednesday, spot gold prices were down 2.2% to $1,317 an ounce. Gold futures for delivery in August on the Comex division of the New York Mercantile Exchange were down 1.2% to $1,318 an ounce, at last check. Silver prices also fell sharply on Wednesday. At last check, silver prices were down 2.20% to $20 an ounce. In late trading, the iShares Silver Trust (ETF) (NYSE: SLV) was down 1.82% to $19.41, and the ProShares Ultra Silver (ETF) (NYSE: AGQ) was down 3.47% to $17.81. Platinum and palladium edged higher on Wednesday. At last check, spot platinum was up 0.3% to $1,443 an ounce. Spot palladium was last trading at $742 an ounce, up 0.40%.  
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

INSIGHT-Push for tax-avoidance curbs in G-20 threatens Publicis-Omnicom dealINSIGHT-Push for tax-avoidance curbs in G-20 threatens Publicis-Omnicom deal
LONDON, April 25 (Reuters) - International pressure to curb corporate tax avoidance is behind delays to a $35 billion merger of French advertising group Publicis and U.S. rival Omnicom, and could ev...
Japan says no trade deal with U.S. as Obama prepares to departJapan says no trade deal with U.S. as Obama prepares to depart
TOKYO (Reuters) - Japan and the United States have made progress in trade talks but not reached the deal that they were hoping to seal at a bilateral summit, Economy Minister Akira Amari said on Frida...
UPDATE 1-U.S. Justice Department seeks over $13 bln from BofA -BloombergUPDATE 1-U.S. Justice Department seeks over $13 bln from BofA -Bloomberg
(Adds additional sources, background about the bank`s investigations) April 24 (Reuters) - The U.S. Department of Justice is asking Bank of America Corp to pay more than $13 billion to settle alleg...
Internet industry seen as winner at global conference in BrazilInternet industry seen as winner at global conference in Brazil
SAO PAULO, April 24 (Reuters) - Big Internet companies were the clear winners at a global conference hosted by Brazil on the future management of the Web where most participants agreed it should rem...
Ackman to pay Herbalife whistleblowers' legal fees, not lost payAckman to pay Herbalife whistleblowers' legal fees, not lost pay
BOSTON, April 24 (Reuters) - Activist investor William Ackman, who is betting more than $1 billion that Herbalife is a pyramid scheme, will cover legal fees and damages for whistleblowers who have s...

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.