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Gold and Silver Prices Remain in Green in Mid-Day Trading

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Gold and silver prices have remained in green in mid-day trading. Gold and silver are rising today after strong global economic data lifted sentiments among investors.

At last check, spot gold was trading 0.64% higher at $1,653.93 an ounce. Gold futures for delivery in February on the Comex division of the New York Mercantile Exchange are currently trading 1.8% higher at $1,660.10 an ounce.


Gold rose as the U.S. dollar fell against the euro after a strong reading on German investor sentiment index. Investors’ sentiment has been also lifted by strong Chinese GDP data. The figures released earlier today showed that the Chinese GDP grew 8.9% in the fourth quarter of 2011, above forecasts of a growth of 8.7%.

GFMS, a metals consultancy, today said in a report that gold may set a record high above $2,000 an ounce in late 2012 or early 2013; however, GFMS noted that gold is nearing the end of a decade-long run that has lifted prices by more than 600%.

Gold ETFs are mixed in trading today. At last check, the SPDR Gold Trust (ETF) (NYSE: GLD) was trading 1.12% higher at $161.04, the Market Vectors ETF Trust (NYSE: GDX) was trading 0.65% lower at $53.70, and the iShares Gold Trust (ETF) (NYSE: IAU) was trading 1.13% higher at $16.15.

Silver prices are also higher in trading today. At last check, spot silver was trading 0.37% higher at $30.04 an ounce. Earlier in the day, spot silver rose as much as 1.7%.

Silver ETFs are gaining in mid-day trading. At last check, the iShares Silver Trust (ETF) (NYSE: SLV) was trading 1.67% higher at $29.29, and the ProShares Ultra Silver (ETF) (NYSE: AGQ) was trading 3.10% higher at $48.94.

The ProShares UltraShort Silver (ETF) (NYSE: ZSL), which takes a short position on silver, is currently trading 3.37% lower at $13.19.

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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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