Stock Market Watch

Gold and Silver Prices Slip in Mid-Day Trading

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Gold and silver prices have shed their early gains and are in red in mid-day trading as investors remain on the fence ahead of euro zone finance ministers meeting Monday. Euro zone finance ministers will meet on Monday to discuss whether Greece should receive additional bailout funds.

At last check, spot gold was trading 0.53% lower at $1,719.16 an ounce.


In a research note, Commerzbank today said that gold is continuing to behave more like a risky asset than a safe haven. Commerzbank said that gold is likely to remain strongly affected by macro-level factors and will probably continue to follow its atypical behavioral pattern in the short term.

The SPDR Gold Trust (ETF) (NYSE: GLD) is currently trading 0.53% lower at $167.11, the Market Vectors ETF Trust (NYSE: GDX) is currently trading 1.38% lower at $54.21, and the iShares Gold Trust (ETF) (NYSE: IAU) is currently trading 0.53% lower at $16.76.

Silver prices are also lower in trading currently. At last check, spot silver was trading 0.99% lower at $33.13 an ounce.

The iShares Silver Trust (ETF) (NYSE: SLV) is currently trading 1.20% lower at $32.18, and the ProShares Ultra Silver (ETF) (NYSE: AGQ) is currently trading 2.26% lower at $58.48.

The ProShares UltraShort Silver (ETF) (NYSE: ZSL), which takes a short position on silver, is currently trading 2.43% higher at $10.53.

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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.


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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.

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