Archive for June, 2015

Weekly Trends: June 14, 2015

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Gold

Gold rebounded mildly on the week to close at $1,180.60, up $8.80 or 0.75%. With the struggling U.S. dollar this week we should have seen a stronger push by gold, yet the fact that we did not is an indication of the lack of conviction for the metal. Perhaps the market is waiting to see the outcome of the FOMC meeting next week, as it will be an important event to monitor with ...

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Weekly Trends: June 8, 2015

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Gold

Last week, gold dropped $18.70 on the week as stronger labour market data out of the U.S. pushed the dollar higher and put further pressure on the already compromised gold price. The strong NFP numbers on Friday was the final push that had the metal dropping below support at the $1,175 level and out of the 2-month consolidation zone. The metal has shed $60 in the past three weeks, largely as a result ...

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Weekly Trends: June 1, 2015

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Gold

Gold was under pressure once again last week as U.S. data is showing signs of improving over the weak first quarter. Following the good data across the board on Tuesday, the metal dropped $10 to the $1,186 level, and the market spent the rest of the week undecided on the next direction. After a 1.44% sell-off the preceding week, gold ended the week down another 1.24% to close at $1,190.50 an ounce.

Gold continues ...

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