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

Venezuela says to avoid costly foreign borrowingVenezuela says to avoid costly foreign borrowing
CARACAS (Reuters) - President Nicolas Maduro said on Wednesday that the South American OPEC member would avoid more borrowing on international markets because of rising costs as a result of worsening ...
P&G shuffles management, focuses on streamlining coP&G shuffles management, focuses on streamlining co
CHICAGO (Reuters) - Procter & Gamble Co <PG.N> said on Wednesday that the head of its North American business, Melanie Healey, will retire next June, as the company puts together a new leade...
Juncker defends decision on French, British EU commissionersJuncker defends decision on French, British EU commissioners
BERLIN (Reuters) - The European Union`s incoming chief executive, Jean-Claude Juncker, on Wednesday defended his decision to appoint a Briton as next financial services commissioner and a Frenchman to...
U.S. Court hears arguments on sex discrimination at Goldman SachsU.S. Court hears arguments on sex discrimination at Goldman Sachs
NEW YORK (Reuters) - Goldman Sachs Group on Wednesday attacked expert evidence offered by attorneys for former female employees in a U.S. federal sex discrimination lawsuit, arguing there was no pat...
Earnings day is a moveable feastEarnings day is a moveable feast
(Reuters) - If companies ran Christmas the way they run their earnings announcements, Santa Claus would usually come early, but when he is late, watch out! What’s more, it looks like if you as an ...

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.