Stock Market Watch

Gold and Silver Prices in Green in Mid-Day Trading

by ·


Gold and silver prices have rebounded in mid-day trading today. Earlier today, gold and silver slipped as the euro fell against the U.S. dollar.

At last check, spot gold was trading 0.4% higher at $1,663.41 an ounce. Gold futures for delivery in February on the Comex division of the New York Mercantile Exchange are currently trading 0.63% higher at $1,665 an ounce.


Gold has made a strong start to the year, gaining more than 5%. Analysts say that low interest rates, strong physical demand from China and India, and worries about inflation outlook and sovereign debt crisis are lending support to the precious metal. Analysts, however, note that gold could face some tough headwinds this year.

David Jollie, analyst at Mitsui & Co. Precious Metals, said that there are lot of reasons still to buy gold but it is fair to say that with risk fatigue setting in, a little bit of price sensitivity coming through and the dollar likely to show some strength, the gains for gold in the current environment are probably les exciting than they were.

Gold ETFs are higher in mid-day trading today. At last check, the SPDR Gold Trust (ETF) (NYSE: GLD) was trading 0.32% higher at $161.73, the Market Vectors ETF Trust (NYSE: GDX) was trading 0.88% higher at $52.61, and the iShares Gold Trust (ETF) (NYSE: IAU) was trading 0.31% higher at $16.21.

Silver prices are soaring in mid-day trading. At last check, spot silver was trading 3.18% higher at $31.52 an ounce.

The iShares Silver Trust (ETF) (NYSE: SLV) is currently trading 3.26% higher at $30.71, the ProShares Ultra Silver (ETF) (NYSE: AGQ) is currently trading 6.41% higher at $53.76, and the ProShares UltraShort Silver (ETF) (NYSE: ZSL) is currently trading 6.74% lower at $11.90.

 

More Posts by this author

edliston
Post Written By: Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.


Tags:

Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

You may also like...