Gold extended a modest bounce base on U.S. jobs data
Park Avenue Numismatics, Miami Beach, FL – August 1, 2014 – Gold extended a modest bounce off a six-week low, rebounding as the U.S. dollar lost ground after data showed the U.S. economy added fewer jobs than expected in July. The U.S. economy added 209,000 jobs in July, marking the sixth straight month of 200,000-plus gains for the first time since 1997, but coming in below the consensus forecast for again of 235,000. The unemployment rate edged up to 6.2% from 6.1%. The dollar weakened versus major rivals in the wake of the data. Commodities priced in dollars are sensitive to movements in the currency. A stronger dollar can weigh on gold by making it more expensive to users of other currencies, while a weaker dollar can help lift gold. The dollar was on a tear in July, rising strongly versus major rivals as data showed the U.S. economy gaining strength and U.S. Treasury yields rose. The slightly weaker-than-expected jobs data may temper expectations the Federal Reserve will move sooner than had been anticipated to begin hiking interest rates. During the trading day, Gold got as high as $1,296.50 an ounce.
Geopolitical risks in Europe and the Middle East are bullish for Gold
Park Avenue Numismatics, Miami Beach, FL – July 21, 2014 – In the last week, there has been much more geopolitical risks in Europe and the Middle East and the these situations have injected some volatility into the equity markets. Additionally Gold drew more attention on Monday and saw prices move higher as the safe haven trade was back on. Gold rose $4.50, to settle at $1,313.90 an ounce. Silver added on 12 cents, to end at $21.01 an ounce. The renewed political tension may introduce the next upward momentum for the precious metal.
Gold moves higher due to Russia-Ukraine tensions
Park Avenue Numismatics, Miami Beach, FL – July 17, 2014 – Gold moved higher again in early session trading on Thursday, as fresh Russia-Ukraine tensions provided some haven demand.
Traders also took in a weaker-than-expected report on U.S. housing starts, although that was offset by a stronger-than-anticipated figure for weekly jobless claims.
At last check, gold was as high as $1,308.50 an ounce. Silver got up to $20.99 an ounce.
Gold breaks a three way downward trend and stays above $1,300 an ounce
Park Avenue Numismatics, Miami Beach, FL – July 9, 2014 – Gold looks to recoup some of what it lost from the last three trading sessions, as investors favor the precious metal ahead of the closely watched U.S. Federal Reserve minutes. Investors believe that Fed Chairwoman Janet Yellen is going stay on course with her dovish posture, which is helping gold stay above the $1,300 an ounce. There are also whispers that the Fed may be increasing interest rates and this is also positive for Gold because it’s considered a hedge against inflation. Gold was up as high as $1,327.60 an ounce.
Gold prices got back on track Tuesday
Park Avenue Numismatics, Miami Beach, FL – July 8, 2014 – Gold prices got back on track Tuesday with early gains after a couple of down days as investors moved away from the “Safe Haven” trade and moved back into the equity markets. After a few days of downward movement in the stock market, it seems as if investors have gotten their short-term fill on equities for now. Gold got as high $1,325.70 an ounce. Silver was as high as $21.29 an ounce.
Gold price jumped higher Tuesday
Park Avenue Numismatics, Miami Beach, FL – July 2, 2014 – Gold price jumped higher Tuesday, hitting the highest close since mid-April, on growing tensions in the Middle East. Gold last traded at $1,326 an ounce. Silver at $21.12 an ounce. Park Avenue Numismatics has hundreds of new PCGS and NGC coins now available.
Gold rose again on Tuesday with a modest gain
Park Avenue Numismatics, Miami Beach, FL – July 1, 2014 – Gold rose again on Tuesday with a modest gain. A rally among U.S. equities drew some investors attention away from the precious metal. However, it still remains a “Safe-Haven” trade as clashes in eastern Ukraine and the Middle East continue to escalate. Gold was as high as $1,332.0o. Gold prices have also benefited from news that holdings in the largest gold exchange-traded fund GLD, saw their largest increase in five weeks on Monday. Gold holdings rose to 25.4 million ounces on Monday from 25.2 million ounces on Friday.
Gold climbed on Monday to hit new high since February
Park Avenue Numismatics, Miami Beach, FL – June 30, 2014 – Gold climbed on Monday and built on their biggest monthly gain since February. One of the major factors for the rise in precious metals is due to the geopolitical tensions such as Iraq, Ukraine and North Korea. Any increase in tensions in these areas could lead investors towards the ‘safe haven’ trade, providing precious metals another boost in the near future.
Gold rebounds on Tuesday, pushing above 1,260 an Ounce
Park Avenue Numismatics, Miami Beach, FL – June 10, 2014 – Gold rebounded on Tuesday, pushing above $1,260 an ounce. The markets await economic data later in the week and take cues from global risk appetite.
Gold has settled in around $1,261 an ounce. during intra day trading. Silver is up .13 cents to $19.18 an ounce.
Gold is up today while the stock market drop sharply
Park Avenue Numismatics, Miami Beach, FL – May 20, 2014 – Gold is up slightly on Tuesday, holding in a tight trading range while the stock market is down triple digits. Traders are waiting to hear the speeches this week from various Federal Reserve officials for clues on markets the metal’s next direction.