Stock Market Watch

Gold and Silver Prices Edge Higher

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Gold and silver prices have edged higher in trading today. Gold is headed for its largest weekly gain in six weeks on the back of renewed worries about the euro zone debt crisis and hopes of further monetary easing from the Federal Reserve following a weaker than expected jobs report for the month of March.

Hopes of another round of quantitative easing from the Fed were further raised today after a Labor Department report showed that initial jobless claims rose unexpectedly last week. According to figures released by the Labor Department, initial jobless claims rose 380,000 last week. Meanwhile, a separate report from the Labor Department showed that producer prices were unchanged in March.


At last check, spot gold prices were trading 1.06% higher at $1,675.01 an ounce. Earlier today, spot gold prices had fallen to $1,653.50 an ounce. Gold futures for delivery in June on the Comex division of the New York Mercantile Exchange are currently trading 0.57% higher at $1,669.80 an ounce.

The SPDR Gold Trust (ETF) (NYSE: GLD) is currently trading 0.96% higher at $162.58, the Market Vectors ETF Trust (NYSE: GDX) is currently trading 2.54% higher at $47.66, and the iShares Gold Trust (ETF) (NYSE: IAU) is currently trading 0.99% higher at $16.31.

The iShares Silver Trust (ETF) (NYSE: SLV) is currently trading 2.51% higher at $31.43, the ProShares Ultra Silver (ETF) (NYSE: AGQ) is currently trading 4.96% higher at $54.40, and the ProShares UltraShort Silver (ETF) (NYSE: ZSL) is currently trading 5.18% lower at $10.43.

 

 

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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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