Gold is trading slightly negative this morning at $1,676 as investors pause ahead of the release of Fed minutes. Loose monetary policy helped gold shoot up to record highs last year, but better than expected economic data in recent months has another round of QE looking less likely.

The Fed minutes will give insights into the Fed’s March meeting and if the Fed is considering any additional steps to help grow the economy. As long as the U.S. economy continues to show signs of improving, the Fed is likely stay on the sidelines. However, many analysts believe if data was to worsen, the Fed would be quick to act in order to keep the recovery on track.

Over the past five days, gold prices have dropped as low as $1,650 and as high as $1,680. [Read more...]

Gold is starting off the quarter drifting. Demand concerns out of India and Turkey are weighing on investors. The Fed speech last week helped prop up the price, but the unknown factor of when is weighing on the market.

The tempering of near-term demand is not being picked up by investor demand so it is keeping the metal rangebound. If QE3 gets announced later this month then the rally will be back on. But if the macro data keeps the perception of a recovery then one wonders if the Fed will indeed pull the trigger.

Gold prices are currently up just under $4 to 1,675.80. [Read more...]

Gold prices are staging a rebound today as global growth concerns are finally giving a boost to the metal. Though it is still rangebound, the likelihood of QE3 increased this week and it could just be a matter of time before the metal breaks above the psychological $1700 level again.

Of course if macro data starts to improve again, the Fed could delay action, setting the metal back even further. This seems to be less likely as the EU still does not have a handle on the sovereign debt crisis. Plus you had the Greek PM today not ruling out the need for a third bailout. Guess the country insists on making this one drawn out saga with no real end in sight. [Read more...]

Gold is trading flat today and is up only $4 at $1,647.50/oz. Gold prices have taken a hit in recent days as investors’ optimism has grown as the outlook for the U.S. economy looks better. The recent jump in the dollar had also negatively affected gold.

Stocks are up some in midday trading a few days after the Dow saw a more than 200 point jump. Investors seemed to have little reaction to positive weekly jobless claims that came out earlier today. Jobless claims fell to a four year low with 351,000 initial claims for state unemployment benefits.

Gold investors have been waiting for the Fed to confirm another round of quantitative easing. But the Fed has given no indication that another round is coming or even needed. Until another round of QE or a significant downturn in the market, gold will likely continue to trade in its current range. [Read more...]

Gold price bulls have not had a good couple of days. The metal was hammered after the release of the Fed statement the other day. With the prospect of QE3 dim in the near future, gold prices were sent plumbing the depths to an 8-week low.

The dollar strengthened on the news, as the Fed indicated the economy is growing a moderate pace. Platinum has also surpassed gold in price for the first time a in a good while. Silver was also not spared the bloodbath, down over 4% on the day.

Analysts who have parsed the Fed statement, say there are increasing signs of an optimistic tone. Gold bulls have pegged the continued rally on the resumption of some form of QE 3. Could be the metal is in for a correction until the point comes when the central banks have to unwind the stimulus they have used to prop up both the financial sector and the markets. [Read more...]