There are a myriad of reasons that come into play which effect the direction of gold prices but today we will look at just one of them; the effect of monetary policy as perpetrated by The Federal Reserve and the European Central Bank (ECB)
Federal Reserve Mining News
Markets seem to have interpreted Janet Yellen’s remarks as impending rate hikes as early as early 2015.
Futures for May delivery fell on New York to a session low of $2.931 a pound, the weakest level since March 17.
Futures for April delivery hit a low of $1,358 an ounce and stood at $1,360.90 by 07:30 GMT, down $12.00.
Traders are now focusing on the US Federal Reserve next interest rate announcement coming up Wednesday.
The rating agency reduced its 2014 forecast for average gold price from $1,200 to $1,100/Oz and from $20 to $18/Oz for silver.
2013 will go down as the year when being “as good as gold” became an offense.
Not many well-wishers on the Fed's big day.
The reality is that both traders and investors appear to be really comfortable at this moment with the record-high levels in the stock market.
he S&P 500 may be entering bubble-like territory: that’s what I’ve been writing for the past few months.
Gold hit a five-month low in the wake of the jobs report, but recovered quickly climbing 4.8% to 1,230.
Gold prices hit a 5-month low, and is now within shouting distance of the psychologically important $1,200 level and the three-year low of $1,180.
A soft jobs reading came out last Tuesday, and the stock market…soared?
Well, the latest numbers related to job creation were recently released and to no one’s surprise, they were worse than expected.
Could represent as much as $600 million worth of traded assets.
President Obama has reportedly made his choice for the next Federal Reserve's chairman.
Gold prices continued to nose-dive on Thursday, falling around 2,5% this morning to $1,329 after hitting a low $1,326 earlier.
The marginal economic strength that was described in the most recent GDP release from Washington has caused many to double down on their belief that the Federal Reserve will begin tapering Quantitative Easing sometime later this year.
He says the central bank's easy-money policies are still necessary.
Increasing fears that the Fed is planning to halt bond-buying scheme dent gold's appeal.
As the world confronts one of the most critical periods of economic upheaval that it has ever seen, it is clear that our most influential economic stewards have absolutely no idea what they are doing.