This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Gold Prices Stem Earlier Losses, Settle Flat

"In terms of our holdings, we are very much seeing more of a holding pattern [with <b>ETFS Securities Physical Gold</b> <span class=" TICKERFLAT">(<a href="/quote/SGOL.html">SGOL</a><a class=" arrow" href="/quote/SGOL.html"><span class=" tickerChange" id="story_SGOL"></span></a>)</span>]," says Daniel Wills, senior analyst at ETF Securities. The most popular gold ETF, SPDR Gold Shares (GLD), shed only 2 tons in the last week as buying stopped and selling slowed.

"The other risk assets are very much still in play," says Wills who has seen strong inflows into their ETFS Physical Platinum (PPLT) and ETFS Physical Palladium (PALL). Platinum added 14,899 ounces in February while palladium added almost 20,000.

Platinum lost $2.50 to $1,859.40 an ounce while palladium ended down $12 to $826.45 an ounce. These two metals are so "geared to the auto sector cycle," explains Wills "and this has been a particularly strong point in the emerging market growth story."

Silver prices shed 18 cents to $30.09. The metal has been moving more with gold this week rather than industrial metals, despite the fact that it is used in construction and manufacturing. The metal settled over the $30 level for three consecutive trading days. Many experts are looking a $30.50 as the target, the one silver must take out before confirming an up move.

Most Recent Quotes from

Gold mining stocks, a risky but profitable way to buy gold, were losing ground. Goldcorp (AUY) was down 1.11% at $42.61 while Harmony Gold (HMY - Get Report) was losing 1.92% at $10.75. Goldcorp recently announced that its proven and probable gold reserves rose 23% to 60.1 million ounces in 2010.

Other gold stocks Gold Fields (GFI - Get Report) and New Gold (NGD - Get Report) were trading at $15.92 and $9.25, respectively.

More on Gold
Gold Price News
How to Invest in Gold

-- Written byAlix Steel in New York.

>To contact the writer of this article, click here: Alix Steel.

>To follow the writer on Twitter, go to

>To submit a news tip, send an email to:
Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.
2 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
GLD $123.65 0.00%
GFI $4.70 0.00%
GG $20.15 0.00%
HMY $3.66 0.00%
NGD $4.70 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs