gold futures prices march 29 2012

gold futures prices march 29 2012 , gold prices down march 29 2012, silver prices march 29 2012, why gold drop march 29 2012, Gold prices are marginally lower in trading today as the U.S. dollar erased early gains. Silver prices, meanwhile, are marginally higher. At last check, spot gold was trading 0.39% lower at $1,656.59 an ounce. Earlier, spot gold prices hit a high of $1,664.79 an ounce. On Wednesday, spot gold fell 1.3%.

Ronald Leung, Director of Lee Cheong Gold Dealers in Hong Kong, told Reuters that there is end-quarter selling, some profit taking, and the dollar is a bit strong. Leung said that people are only buying a small amount of physical gold because the global economy is still struggling. He added that it is going to be range trading for a little while, watching currencies and their direction.

Gold futures for delivery in April on the Comex division of the New York Mercantile Exchange are currently trading 0.16% lower at $1,655.30 an ounce.

The SPDR Gold Trust (ETF) (NYSE: GLD) is down 0.44% to $160.80 in pre-market trading, while the Market Vectors ETF Trust (NYSE: GDX) is little changed in pre-market trading.

Silver prices are marginally higher in early trading today. At last check, silver futures were trading 0.25% higher at $31.91 an ounce.

In pre-market trading in New York, the iShares Silver Trust (ETF) (NYSE: SLV) is currently down 0.71% to $30.94, and the ProShares Ultra Silver (ETF) (NYSE: AGQ) is currently unchanged at $53.78.

The ProShares UltraShort Silver (ETF) (NYSE: ZSL), which takes a short position on silver, is inactive in pre-market trading. On Wednesday, ZSL ended 2.87% higher at $10.74.

FUNDAMENTALS
* Gold prices slipped under $1,680 an ounce, extending a fall from 2-week highs into a third session as the dollar recovered from near a one-month low and crude oil values turned lower.

* Copper was off following a 2 percent fall in the previous session although doubts over demand in China and the pace of economic recovery in the U.S. made investors cautious.

* China's Minmetals Resources plans to use its C$1.3 billion Anvil Mining acquisition as a platform to buy more copper assets in central and southern Africa.

* South Korea's Hyundai Steel expects the steel market to recover in the second half of this year led by a pickup in automobiles and construction despite high oil prices, weak Chinese demand and euro zone debt issues.

ECONOMY
* Germany's March unemployment rate fell to 6.7 percent from 6.8 percent in February.

* The March euro zone economic sentiment index fell 0.1 to 94.4, compared with the expected 94.6.

* Final fourth quarter U.S. GDP at 0830 EDT (1230 GMT) is seen unchanged from the second estimate at 3.0 percent.

* U.S. initial jobless claims at 0830 EDT are expected at 350,000, up from last week's 348,000.

MARKETS
* Global stocks dipped after disappointing U.S. data tempered the outlook for the world's biggest economy while the price of oil stabilized following some sharp losses.

* The euro fell against the dollar as concerns about contagion from the euro zone debt crisis overshadowed a solid Italian bond auction.

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