Stock Market Watch

Gold and Silver Prices Ease

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Gold and silver prices have eased in trading today as investors take a breather after Tuesday’s huge rally. Prices have also eased after concerns over euro zone’s finances hurt the euro.

At last check, spot gold was trading 0.12% lower at $1,756.81 an ounce. Gold futures for delivery in April on the Comex division of the New York Mercantile Exchange are up 0.15% to $1,755.90 an ounce.


Although euro zone worries are expected to keep gold under pressure, the longer-term outlook for gold remains bullish. Analysts expect gold to continue to benefit from low U.S. interest rates, central bank buying, and strong demand from key markets such as China.

Goldman Sachs today reiterated its positive 12-month view on gold. Goldman Sachs said in a research note that it expects U.S. real interest rates to remain lower for longer given their U.S. economics’ team’s expectation for U.S. economic growth to remain slow through 2012. Goldman Sachs also said that it expects gold prices to continue to rise through 2012, reaching $1,940 an ounce in 12 months.

The SPDR Gold Trust (ETF) (NYSE: GLD) is currently trading 0.18% lower at $170.71, the Market Vectors ETF Trust (NYSE: GDX) is currently trading 0.32% lower at $55.61, and the iShares Gold Trust (ETF) (NYSE: IAU) is currently trading 0.23% lower at $17.12.

Silver prices are also lower in mid-day trading. At last check, spot silver was trading 0.5% lower at $34.12 an ounce.

The iShares Silver Trust (ETF) (NYSE: SLV) is currently trading 0.69% lower at $33.17, the ProShares Ultra Silver (ETF) (NYSE: AGQ) is currently trading 1.35% lower at $61.96, and the ProShares UltraShort Silver (ETF) (NYSE: ZSL) is currently trading 1.43% higher at $9.91.

 

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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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