Gold and Silver Prices Rebound

Gold and silver prices have rebounded in mid-day trading today after a Greek government official said that the country’s government is preparing a draft of an agreement on the 130 billion euro bailout package that will be put in front of the political leaders for approval.

Earlier today, gold and silver had slipped on persistent worries about the Greek debt crisis. However, the latest reports from Greece suggest that the country has wrapped up talks with lenders on the rescue.

At last check, spot gold was trading 1.56% higher at $1,723.89 an ounce. Earlier in the day, spot gold fell to a low of $1,709.29 an ounce. Gold futures for delivery in April on the Comex division of the New York Mercantile Exchange are currently trading 1.21% higher at $1,745.80 an ounce.

Gold ETFs are also gaining in mid-day trading today. At last check, the SPDR Gold Trust (ETF) (NYSE: GLD) was trading 1.52% higher at $169.72, the Market Vectors ETF Trust (NYSE: GDX) was trading 0.68% higher at $56.56, and the iShares Gold Trust (ETF) (NYSE: IAU) was trading 1.55% higher at $17.03.

Silver prices have also rebounded sharply in trading today. At last check, spot silver was trading 1.58% higher at $34.16 an ounce.

Silver ETFs are also gaining in mid-day trading. At last check, the iShares Silver Trust (ETF) (NYSE: SLV) was trading 1.68% higher at $33.24, and the ProShares Ultra Silver (ETF) (NYSE: AGQ) was trading 3.17% higher at $62.50.

The ProShares UltraShort Silver (ETF) (NYSE: ZSL), which takes a short position on silver, is currently trading 3.60% lower at $9.92.

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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.