Stock Market Watch

Gold Prices Ease; Silver Prices Also Fall

by ·


Gold prices edged lower in trading on Tuesday reversing some of the gains from previous trading session. Silver prices also fell on Tuesday.

Gold prices eased as liquidation from gold-backed ETFs continued. Outflows in the gold funds tracked by Reuters totaled 10 tons on Monday. The SPDR Gold Trust (ETF) (NYSE: GLD) registered a 1.2 ton drop in its holdings.

In a research note, analysts at Commerzbank said that given the ongoing ETF outflows, they believe it is still too early to describe the latest rise in gold price as a lasting trend reversal.

At last check on Tuesday, spot gold was trading nearly flat at $1,335 an ounce. Gold futures for delivery in August on the Comex division of the New York Mercantile Exchange was last trading 0.1% lower at $1,335 an ounce. The SPDR Gold Trust ETF was up 0.13% to $129.01 in late trading.

Silver prices, which rallied on Monday, also reversed some of their gains. At last check, silver prices were down 1.2% to $20 an ounce. In late trading, the iShares Silver Trust (ETF) (NYSE: SLV) was down 0.76% to $19.62, and the ProShares Ultra Silver (ETF) (NYSE: AGQ) was down 1.62% to $18.17.

Platinum and palladium also edged lower on Tuesday. At last check, spot platinum was trading 0.1% lower at $1,439 an ounce. Spot palladium, meanwhile, was last trading 1% lower at $737 an ounce.








More Posts by this author

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.

Tags:

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.

You may also like...