Stock Market Watch

Gold and Silver Prices Edge Higher

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Gold and silver prices edged higher in trading today as the rally in the U.S. dollar stalled. Gold prices have also been boosted by technical buying.

At last check, spot gold was trading 0.68% higher at $1,679.21 an ounce.


Daniel Smith, analyst at Standard Chartered, told Reuters that the gold will tend to rally in the months ahead on the back of  a wider improvement in liquidity which we are seeing across the macrospace.

Gold ETFs have also risen in trading today. At last check, the SPDR Gold trust (ETF) (NYSE: GLD) was trading 0.60% higher at $163.12, the Market Vectors ETF Trust (NYSE: GDX) was trading 1.71% higher at $50.42, and the iShares Gold Trust (ETF) (NYSE: IAU) was trading 0.58% higher at $16.36.

Silver prices have also risen sharply today. At last check, spot silver was trading 2.67% higher at $33.07 an ounce. In the first quarter, silver prices rose 16%.

The iShares Silver Trust (ETF) (NYSE: SLV) is currently trading 2.45% higher at $32.14, the ProShares Ultra Silver (ETF) (NYSE: AGQ) is currently trading 4.92% higher at $57.13, and the ProShares UltraShort Silver (ETF) (NYSE: ZSL) is currently trading 4.74% lower at $10.05.

Platinum and palladium have also risen sharply in trading today. At last check, spot platinum was trading 0.12% higher at $1,646.98 an ounce, and spot palladium was trading 0.66% higher at $652.38 an ounce.

With U.S. auto sales for March expected to rise, platinum and palladium could gain further. Automakers are the biggest consumers of platinum and palladium.

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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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