Gold Prices Flat; Silver Prices Sharply Lower
Gold prices are flat in mid-day trading as investors take a breather following four straight days of gains. Meanwhile, silver prices have fallen sharply in mid-day trading.
Gold has been gaining this week amid rising hopes of further monetary easing from the Federal Reserve. Latest economic data out of U.S. has further raised hopes of another round of quantitative easing.
Speaking to Reuters, James Steel, analyst at HSBC, said that gold has been quite volatile, having initially had support this week from U.S. data, but its quite possible that the markets are getting tired of second-guessing the Fed.
At last check, spot gold was trading 0.08% higher at $1,618.43 an ounce. Gold futures for delivery in August on the Comex division of the New York Mercantile Exchange are currently trading 0.02% higher at $1,619.70 an ounce.
The SPDR Gold Trust (ETF) (NYSE: GLD) is currently trading 0.03% lower at $157.10, the Market Vectors ETF Trust (NYSE: GDX) is currently trading 0.41% lower at $46.62, and the iShares Gold Trust (ETF) (NYSE: IAU) is currently trading flat at $15.77.
Silver prices are sharply lower in mid-day trading. At last check, spot silver was trading 1.49% lower at $28.50 an ounce.
The iShares Silver Trust (ETF) (NYSE: SLV) is currently trading 1.32% lower at $27.64, the ProShares Ultra Silver (ETF) (NYSE: AGQ) is currently trading 2.79% lower at $41.13, and the ProShares UltraShort Silver (ETF) (NYSE: ZSL) is currently trading 2.46% higher at $63.80.
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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.
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