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

Asia edges up after China rate cut, euro sagsAsia edges up after China rate cut, euro sags
TOKYO (Reuters) - Asian stocks got off to a steady start on Monday as soft U.S. data was partially offset by a weekend interest rate cut by China, while the dollar hit a five-week high against the e...
China's economic growth expected to slow to 7 percent in first: state think tankChina's economic growth expected to slow to 7 percent in first: state think tank
SHANGHAI (Reuters) - China`s economy is expected to slow to an annual 7 percent in the first quarter of this year, a top Chinese government think tank said in a research report, a sign policy makers w...
Berkshire insurance 'superstar' could fill Buffett's shoes Berkshire insurance 'superstar' could fill Buffett's shoes
NEW YORK (Reuters) - Warren Buffett, at a news conference in Bengaluru in 2011, lavishly praised Berkshire Hathaway executive Ajit Jain for smoothly running much of the conglomerate`s insurance busi...
Exclusive: NXP Semiconductors nears deal for Freescale Semiconductor - sourcesExclusive: NXP Semiconductors nears deal for Freescale Semiconductor - sources
(Reuters) - NXP Semiconductors NV is close to a deal to acquire smaller peer Freescale Semiconductor Ltd in a $40 billion cash and stock merger that will reshape the semiconductor industry, according ...
Exclusive: NXP Semiconductors nears deal for Freescale Semiconductor - sourcesExclusive: NXP Semiconductors nears deal for Freescale Semiconductor - sources
(Reuters) - NXP Semiconductors NV is close to a deal to acquire smaller peer Freescale Semiconductor Ltd in a $40 billion cash and stock merger that will reshape the semiconductor industry, accordin...

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
small cap swing trades SmallCaps stocks under $10
Index Signals Index Signals SPY, QQQ, DIA, IWM
options trading Mega Stocks options + stock trade signals
AppleStock FREE AAPL Signals realtime daytrade signals