A very thinly traded sessions as the U.K had its bank holiday. Spot gold remained in a tight range on the bottom end at $1632 and the top $1642.
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May 08 2012 13:37PM
After the release of the highly scrutinized U.S jobs data it was a mixed picture for the metals market. Spot gold initially fell before recovering to trade to an intra-day high of $1647.
May 03 2012 18:06PM
Spot gold lost more ground as the European Central Bank (ECB) shied away from announcing more stimulus despite the deteriorating conditions in the Eurozone.
ECB president Mario Draghi reduced hopes of fresh monetary stimulus holding the line on interest rates at 1% even though economic indicators, including manufacturing and employment data, have been trending in the wrong direction recently. Draghi stated...
May 03 2012 18:01PM
Spot gold traded lower today to $1646 as a stronger US dollar weighed down the metals complex.
Spot gold eased lower along with the euro after a downbeat survey of euro zone manufacturing activity contrasted with a stronger US reading, though the metal pared losses after soft US jobs report pulled the dollar from highs. With the poor U.S data there has been speculation that the Feds are ready to pull the trigger on QE3, several Fed officials reinforced the notion they are happy to stand pat on policy. This led to gold liquidation as flows started to go towards the US dollar.
May 01 2012 16:53PM
Volatility remains high as spot gold saw wild swings from positive to negative. The metal rallied to $1671, before turning; as US ISM data was positive; lower to $1660.
Apr 30 2012 16:41PM
On the final trading day of April we saw volatility. Spot gold retreated to $1645, only to bounce back to trade above key support at $1650.
Spot gold started the week off firm before mixed US data and a softer Euro took the metal off of its highs at $1665. The metal recovered by late afternoon to trade above $1650. It was mostly thin volumes as China and Japan are out due to holidays. The euro slipped to 1.3205 on further uncertainty in the eurozone as Spain has fallen back into recession.
Apr 27 2012 18:41PM
The reoccurring theme of lackluster U.S data emerged once again. Spot gold rallied to new 2 week highs of $1668 on the heels of this poor data.
Apr 26 2012 17:29PM
Precious metals advanced Thursday as disappointed U.S jobs data coupled with Fed Chairman Ben Bernanke speech yesterday have left investors nervous and fleeing out of the U.S dollar.
Apr 25 2012 17:35PM
Precious metals remained in a holding pattern as gold traded in a tight range ahead of the FOMC minutes and Ben Bernanke’s speech.
Spot gold sold off to $1625 after the FOMC policy statement did not specifically allude the need for additional quantitative easing (QE3) in the near-term, but quickly recovered shortly thereafter as bargain hunting emerged on the price decline. Some highlights of the FED statement are...
Apr 24 2012 18:37PM
A choppy sideways day for precious metals as spot gold regained a portion of yesterday’s losses. The yellow metal traded to $1648, before slipping lower.
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