Archive for May, 2015

Gold

Gold shed $17.60 last week to close at $1,205.40, down 1.4%. The week started off on a positive note with the metal pushing above $1,230 during intraday trading on Monday. However the metal plunged $20 the following day after strong housing numbers were released out of the U.S. on Tuesday morning. The solid housing numbers set the tone for the week, and had the U.S. dollar bouncing off of a 4-month low to ...

Gold

Gold gained $35.80 last week to close at $1,223, up 3%. The catalyst was the further weakness in economic data out of the U.S. last week, which has begun to raise important questions about the true health of the U.S. economy. If the weakness continues it will start to cast serious doubt about the possibility of near-term rate-hikes, as well as on the effectiveness of the Fed’s policy tools. This would be ...

Gold

Gold struggled to break back above $1200 last week and was unable to clear this psychological hurdle. The soft NFP numbers of Friday gave gold a small boost, helping the metal gain $10 on the week and close the session at $1187.20. Mixed signals given by recent economic data out of the U.S. has kept gold oscillating over the past few weeks in a narrow trading range between $1175 and $1215. However, ...

Gold

Gold initially found strength early in the week leading up to the FOMC statement, reaching a high of $1215 during intraday trading on Tuesday. However, in reaction to the less dovish than expected FOMC statement on Wednesday, the market quickly sold off gold. The following day gold was beaten down further as data showed that the Initial Jobless claims had reached a 15-year low. Gold will have a hard time making ground ...