Stock Market Watch

Gold and Silver Prices Rebound

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Gold and silver prices have rebounded in trading today after falling sharply on Wednesday. Gold prices fell to their lowest level in nearly three months on Wednesday as hopes of more monetary easing by the Federal Reserve diminished.

However, prices have bounced back after yesterday’s losses. At last check, spot gold was trading 0.61% higher at $1,629.10 an ounce. Gold futures for delivery in June on the Comex division of the New York Mercantile Exchange are currently trading 0.72% higher at $1,625.80 an ounce.


Gold prices fell sharply on Tuesday and Wednesday after the Federal Reserve released minutes from its most recent policy meeting. The minutes showed that Fed officials are not likely to push for monetary easing as the economy continues to improve.

The improvement in the U.S. economy was further confirmed on Wednesday after ADP released its jobs report for the month of March. The report showed that the U.S. private sector added 209,000 jobs in March.

Gold has also come under pressure from a decline in the euro. The single currency fell on Wednesday as concerns about the euro zone debt crisis heightened after a weak Spanish bond auction.

Silver prices, which slipped 4% on Wednesday, have bounced back today. At last check, spot silver was trading 1.15% higher at $31.68 an ounce.

The iShares Silver Trust (ETF) (NYSE: SLV) is currently trading 1.29% higher at $30.72, the ProShares Ultra Silver (ETF) (NYSE: AGQ) is currently trading 2.42% higher at $52.05, and the ProShares UltraShort Silver (ETF) (NYSE: ZSL) is currently trading 2.40% lower at $10.96.

                                                             

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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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