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

Pre Market | Dow Jones | Gold | Newsletters | Learn


Gold Prices Rally on Fiscal Cliff Deal; Silver Prices also Surge

Wednesday, January 2, 2013 4:58 PM
Gold prices rallied in trading on Wednesday as investors cheered a last-minute deal reached by lawmakers to avert the fiscal cliff. Silver prices also rallied on Wednesday. Gold gained after Congress passed a bill to avert the fiscal cliff. However, analysts don’t expect the rally to continue. Speaking to Reuters, Frank McGhee, Head Precious Metals Trader at Integrated Brokerage Services, said that the reaction is way overdone and he wouldn’t be surprised to see a fairly substantial sell-off that could erase a lot if not all of these gains. At last check on Wednesday, spot gold was trading 0.8% higher at $1,687.84 an ounce. Spot gold prices rose to a two-week high of $1,694.70 an ounce on Wednesday before paring some of the gains. Gold futures for delivery in February on the Comex division of the New York Mercantile Exchange climbed $13 to $1,688.80 an ounce. Silver prices also surged on Wednesday, with spot silver gaining 2.4% to $31.01 an ounce. In late trading on Wednesday, the iShares Silver Trust (ETF) (NYSE: SLV) was up 1.98% to $29.93, the ProShares Ultra Silver (ETF) (NYSE: AGQ) was up 3.67% to $45.75, and the ProShares UltraShort Silver (ETF) (NYSE: ZSL) was down 4.05% to $48.04. Platinum and palladium also rose sharply on Wednesday. At last check, spot platinum was trading 1.6% higher at $1,559.50 an ounce, while spot palladium was trading 2% higher at $705.97 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

France's Sapin says Greece belongs in euro, solution will be foundFrance's Sapin says Greece belongs in euro, solution will be found
BRUSSELS (Reuters) - French Finance Michel Sapin said on Thursday that euro zone states would find a solution to the Greek debt crisis and that Greece should remain in the currency union. Speaking t...
EU trade chief says EU-Ukraine deal to be implemented from 2016EU trade chief says EU-Ukraine deal to be implemented from 2016
BRUSSELS (Reuters) - European Trade Commissioner Cecilia Malmstrom said on Wednesday that a planned EU-Ukraine trade deal would be implemented from the start of 2016 despite Russian calls for further ...
Falling out of love, foreign funds dump Indian shares, bonds  Falling out of love, foreign funds dump Indian shares, bonds
MUMBAI (Reuters) - Overseas funds sold around a net $630 million in Indian shares and bonds on Wednesday, marking their biggest single-day sales since January 2014, reinforcing fears that an emerging ...
Alcatel-Lucent defends Nokia deal as weathers U.S. slowdownAlcatel-Lucent defends Nokia deal as weathers U.S. slowdown
PARIS (Reuters) - Telecom equipment maker Alcatel-Lucent <ALUA.PA>, which is set to be bought by larger rival Nokia <NOK1V.HE>, improved profit margins in the first quarter despite a mar...
Hedge fund manager Loeb takes aim at 'Oracle of Omaha' BuffettHedge fund manager Loeb takes aim at 'Oracle of Omaha' Buffett
LAS VEGAS (Reuters) - Hedge fund mogul Daniel Loeb on Wednesday took aim at the "Oracle of Omaha," calling beloved billionaire Warren Buffett a hypocrite. "I love how he criticizes hedge funds yet...

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.

Algorithm Based
Trade Signals
arrow
swing trades FREE Swing Trade Ideas Clear, simple swing trades.
small cap swing trades Futures Day Trading System S&P + Crude Oil Signals
Autotrading Autotrade Stocks Try for Free!