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
TheStreet Open House

Gold Prices Little Changed as Traders Take Breather (Update 1)

Stocks in this article: RGLDNGKGCGLDIAU

Updated from 10:52 a.m. ET with settlement prices

NEW YORK ( TheStreet) -- Gold prices were slightly lower Monday as traders took a rest after Friday's gap up on a poor jobs report.

Gold for April delivery at the COMEX division of the CME slid $3.40 to settle at $1,572.50 an ounce. The gold price traded as high as $1,582.90 and as low as $1,566.60 an ounce, while the spot price was losing $8.90, according to Kitco's gold index.

"There's not a lot of other outside developments that are going on right now to give gold that extra boost," Phil Streible, senior commodities broker at RJO Futures, said in an interview. "We're not seeing any kind of further deterioration in Cyprus; North Korea . . . they haven't taken any real decisive action yet, so a lot of traders have also used the rally to liquidate some of the positions."

Silver prices for May delivery lost 8 cents to close at $27.14 an ounce, while the U.S. dollar index was adding 0.23% to $82.76.

The yellow metal popped on Friday as traders covered their short positions after the March employment situation came in much weaker than expected. The miss on nonfarm payrolls suggested that the labor market has continued to improve at an uneven pace and that a large number of individuals continue to leave the work force.

Looking ahead on the week, the Federal Reserve will release the minutes of its March 20 policy meeting.

The Fed, immediately after that meeting had concluded, said in a statement it expected the economy to return to moderate growth. The central bank also revised down its 2013 real GDP forecast, but cut its unemployment rate prediction.

Gold mining stocks closed mostly lower on Monday. Shares of Royal Gold (RGLD) were off 2%, and shares of NovaGold Resources (NG) slid 3.6%.

Among volume leaders, Barrick Gold (ABX) lost 1.4%.

Gold ETF SPDR Gold Trust (GLD) was off 0.43% to $152.16 a share, while iShares Gold Trust (IAU) dropped 0.39% to $15.29 a share.

-- Written by Joe Deaux in New York.

>Contact by Email.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,614.81 +215.14 1.31%
S&P 500 1,941.28 +37.27 1.96%
NASDAQ 4,419.4780 +103.4040 2.40%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs