Gold improved its gains in early trading on Friday due to a pullback in dollar
Park Avenue Numismatics, Miami Beach, FL – July 19,2013 – Gold improved its gains in early trading on Friday due to a pullback in dollar. Gold got as high as $1,295 an ounce and silver hit $19.62 an ounce. Since commodities like gold and silver are usually denominated in dollars, a drop in the U.S. unit makes gold less expensive to holders of other currencies, encouraging buying. Gold has also gained recently on congressional testimony from Federal Reserve Chairman Ben Bernanke, who said the U.S. central bank had no set timetable for slowing its stimulus.
Gold moves higher on Thursday due to Federal Reserve comments
Park Avenue Numismatics, Miami Beach, FL – July 18,2013 – Gold futures moved higher on Thursday, shaking of the previous day trading session. This tight trading range right now is due to the Federal Reserves comments Wednesday that the proposed timetable for tapering the buys was not set in stone. This was followed up with a Thursday statement saying it was too early to make judgment on whether the Fed will slow down asset purchases at its September meeting. Gold got as high as $1,290 an ounce and silver got as high as $19.71 an ounce in early trading.
Silver and Gold rally on Thursday
Park Avenue Numismatics, Miami Beach, FL-July 11,2013 – Silver and Gold futures rallied on Thursday after Federal Reserve Chairman Ben Bernanke said U.S. interest rates will remain low to aid economic growth. Gold climbed $39, and got as high as $1,290 an ounce and Silver rose as high as $20.29 per ounce.
Gold climbed to highest levels since mid May
Park Avenue Numismatics, Miami Beach, FL — June 6, 2013 – On Thursday, Gold futures climbed to their highest levels since the middle of May. This rise was once again due to a dropping U.S dollar against the euro and Japanese yen ahead of the latest monthly figures on U.S. employment. Gold rose as as $1425 an ounce and traded as low as $1,391.20 earlier.
Gold futures climb above $1,400.00
Park Avenue Numismatics, Miami Beach, FL — June 3, 2013 – Gold futures moved above $1,400 on Monday and climbed as high as $1,410 an ounce. This spike is due to a weaker U.S. dollar and other economic data. Prices were trading around $1,395 before news that the Institute for Supply Management index fell to 49.0% last month from 50.7% in April. That marked the first contraction since November. Bigger news this week will come from the U.S. employment report on Friday, as well as any news about signs of more QE from Federal Reserve. The Federal Reserve’s QE program has historically helped gold as QE tends to put pressure on the U.S. dollar and can lead to inflation. Gold is often seen as a hedge against inflation and consider a safe haven investment at these times.
Gold Futures move higher on Thursday
Park Avenue Numismatics, Miami Beach, FL — May 23, 2013 – Gold futures are moving higher on Thursday, as the U.S. dollar dropped against the Japanese yen due to huge losses for equities in Tokyo. The Japanese market downturn is due to the speculation of the tapering of stimulus efforts by the U.S. Federal Reserve in the coming months and the downbeat China data as the contributing factors. Gold futures jumped nearly $23.40 at one point to sell for $1,390.80 an ounce. The combination of a weaker U.S. dollar and falling stock markets has been the force that is now pushing Gold higher. Historically, easy monetary policy tends to pressure the U.S dollar and can lead to inflation. Gold is often seen as a hedge against inflation.
Gold Futures climb on Wednesday to it highest level in a month
Park Avenue Numismatics, Miami Beach, FL — May 8, 2013 – Gold futures climbed Wednesday to its highest level in nearly a month. Gold for climbed as high as $24.90 an ounce during the trading day to $1,473.70, due to the weakness in the U.S. dollar and strong demand in Asia. Silver traded as high as $23.60 an ounce.
Precious Metals move higher on Monday
Park Avenue Numismatics, Miami Beach, FL – April 29, 2013 – Precious Metals moved higher on Monday, as investors believe the Fed will continue its easy-monetary policies among key central banks. These expectations coupled with a weaker U.S. dollar lured investors back to the precious-metals market. Gold climbed as high as $1,477.00 an ounce and Silver was at $24.61 an ounce. This is after Gold gained over 4% last week.
Cyprus helps Gold move higher
Park Avenue Numismatics, Miami Beach, FL – March 21, 2013 – Gold futures advanced on Thursday, due to investors moving money into the precious metal markets as fears grow over Cyprus and its impact it may have on the euro zone. April futures for gold were up as much as $6.20, to trade at $1,613.70 an ounce. Market sentiment is that investors and traders may switch out of euro type investments and re-allocate funds into gold and other precious metals due to its safe haven appeal. This situation coupled with the today’s weaker than expected economic data from the United States, Europe and China may be the catalyst to drive Gold even higher.
Gold futures move towards $1,600 an ounce
Park Avenue Numismatics, Miami Beach, FL – March 12, 2013 — Gold futures continues is recent move towards the $1,600 an ounce in early trading Tuesday. Investors are taking advantage of the recent price declines. Gold rose as much as $17.00 and ounce to $1,595 an ounce on the Comex division of the New York Mercantile Exchange. This recent move is due increased demand from China as they try to take advantage of the pullback.