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

Pre Market | Dow Jones | Gold | Newsletters | Learn


Gold Prices Inch Up, Silver Prices Fall

Wednesday, January 9, 2013 8:38 AM
Gold prices held mild gains, hovering around $1,660 an ounce level during Asian trading hours on Wednesday, as stronger physical-side demand from Asia was offset by overall cautious approach adopted bullion investors, waiting for policy rate response from the Bank of Japan and the European Central Bank. Silver prices, meanwhile, slipped in early trading on Wednesday. At last check, gold futures for February delivery inched up 0.1 percent to trade at $1,663.80 an ounce and spot gold added 0.08% to $1,663.40 an ounce. Earlier on Tuesday, gold reversed its three-day losing streak to post 1 percent gain after bullion investors raised their exposure in inflation-hedge bets following  the news reports that said Bank of Japan was considering more economic stimulating measure to contain the deflation. Gold prices have been under pressure since last week when minutes released by the Federal Reserve from its latest policy rate meeting showed that officials were concerned about ongoing massive asset purchase program. There is growing perception in the market that the Fed could scale down or completely stop ongoing QE measures, which in turn fade gold’s inflation-hedge allure. However, many analysts, according to Reuters feel that large-scale sell-off seen in the previous week, which resulted in prices hitting 4-½ month low level, was unwarranted as economic indicators aren’t still strong enough to convince the Fed to cut down its QE3. No other factor tends to impact gold’s prices as closely as the Federal Reserve’s monetary policy. Meanwhile in Asia, strong demand from China and India, is expected to support gold prices but in case buying momentum recedes then prices could see a downward trend, say analysts. “Gold will probably trade in a broad range of $1,625 to $1,675 in the next few weeks,” said a Singapore-based trader while speaking to Thomson Reuters. Silver futures slipped 0.07% to $30.46 an ounce. In pre-market trading, the iShares Silver Trust (ETF) (NYSE: SLV) was down 0.14%.
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

Ford, IBM to face renewed U.S. lawsuit over apartheid-era abusesFord, IBM to face renewed U.S. lawsuit over apartheid-era abuses
NEW YORK, April 17 (Reuters) - Ford Motor Co and IBM Corp will again have to face a U.S. lawsuit claiming they encouraged race-based human rights abuses in apartheid-era South Africa, despite a seri...
Disney CFO projects operating income growth at cable networksDisney CFO projects operating income growth at cable networks
LOS ANGELES, April 17 (Reuters) - Walt Disney Co`s cable networks are expected to record high single-digit growth in operating income and domestic affiliate revenue from fiscal 2014 through 2016, Chie...
EXCLUSIVE-GM says recalled cars safe, but has not tested for knee-bump dangerEXCLUSIVE-GM says recalled cars safe, but has not tested for knee-bump danger
WASHINGTON, April 17 (Reuters) - General Motors says that cars being recalled because of faulty ignition switches can be driven safely before repairs, based on more than 80 tests, but the automaker ...
Lululemon CEO looks beyond yoga wear for growthLululemon CEO looks beyond yoga wear for growth
* To broaden products amid success of casual wear collection * Company still recovering from 2013 recall, supply chain problems * Says men`s line could become billion-dollar business TORONTO, A...
China's new breed of whistleblowers takes on big businessChina's new breed of whistleblowers takes on big business
SHANGHAI, April 18 (Reuters) - Chinese lawyer Hao Junbo wants to make you rich if you`re a whistleblower after a bounty. For big business in China he`s a headache, part of a small but fast-growing i...

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.