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Gold future rise on Thursday due to disapointing economic data and comments from Janet Yellen

Published on: 14th

Park Avenue Numismatics, Miami Beach, FL – November, 14, 2013 — Gold futures on Thursday rallied for their first gain in several trading sessions due to disappointing US economic data and Senate testimony from Janet Yellen, the nominee to lead the Federal Reserve. Yellen’s comments, coupled with a decline in U.S. jobless claims that was smaller than expected, reinforced expectations the central bank won’t be in a rush to slow the flow of stimulus to the U.S. economy. Investors see the possibility of more stimulus as a reason to get back into the gold trade. Gold reached a high of $1,295.50 an ounce.