Gold Prices End Flat; Silver Prices Slip
Gold prices ended flat on Monday amid rising worries over the looming fiscal cliff and the ongoing euro zone debt crisis. Silver prices, meanwhile, edged lower on Monday.
Gold futures for delivery in December on the Comex division of the New York Mercantile Exchange settled at $1,730.90 an ounce, unchanged from Friday. The precious metal traded between $1,725.20 an ounce and $1,738 an ounce.
Gold remained flat despite strong demand from India ahead of the Diwali holiday and hopes of further monetary easing from Japan after data released earlier today showed that the Japanese GDP fell by 0.9% in the third quarter.
Investors remained on the sidelines amid concerns over the looming fiscal cliff, which refers to tax increases and spending cuts that will be implemented in January if lawmakers fail to reach a deal on reducing U.S. fiscal deficit.
In other precious metals, silver prices edged lower on Monday. Silver for delivery in December fell 0.2% to settle at $32.52 an ounce.
In late trading on Monday, the iShares Silver Trust (ETF) (NYSE: SLV) was down 0.55% to $31.36, the ProShares Ultra Silver (ETF) (NYSE: AGQ) was down 1.15%, and the ProShares UltraShort Silver (ETF) (NYSE: ZSL) was up 1.25% to $44.70.
Platinum and palladium also edged higher on Monday. At last check, spot platinum was trading 0.5% higher at $1,557.75 an ounce, while spot palladium was trading less 0.1% higher at $604.25 an ounce.
More Posts by this author
- Stocks Extend Losses in Early Trade
- Sirona – SIRO – Record Fiscal 2012 Fourth Quarter and Full Year Results
- Physicians Formula (FACE) and Markwins Amend Merger Agreement
- White River Capital – RVR – To Be Acquired by Parthenon Capital Partners
- American Equity – AEL – Declares Annual Cash Dividend on Common Stock
- MTS Systems Corporation – MTSC – Delivered on revenue and EPS guidance projections for the year
- Ruckus Wireless – RKUS – Announces Pricing of Initial Public Offering
 |
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.
|
