Gold Prices Struggling to Start Week. Gold Stocks to Watch: GG, KGC, GLD, ABX, AEM, AUY, NEM, EGO, IAG

After four days of gains, gold prices are taking a bit of a breather this morning. Out of the gate the metal plunged to the $1646 level before trimming its losses. Losses on the broader market are modest and it seems like investors are casting a wary eye on Friday. That is when the NFP report for April will be released. With jobless claims ticking slowly higher, the whisper numbers for job creation are getting slashed left and right.

Gold bulls should hope for a number that is warns of risks to the labor market. That could be the catalyst for the Fed to step in and restart the stimulus programs. Obviously any further stimulus out of the Fed would be a boon for gold prices.

Short term the economic situation out of the EU could add negative pressure to the metal as investors flee into the dollar. But long term, the longer it takes for them to solve the situation or if there is a breakup, it could lead gold to another rally. [Read more...]

Gold Up as Dollar Falls on Fed Statement. Gold Stocks to Watch

Gold pricesGold is up this morning and is currently trading at $1,653.00. Gold took a hit yesterday after the Fed gave no hints of any further quantitative easing, but quickly rebounded due to weakness in the dollar. The dollar hit a three week low against the euro this morning in response to yesterday’s Fed statement.

The Fed reiterated that interest rates will probably not rise until at least late 2014. The Fed also increased its economic growth outlook to 2.4-2.9%. [Read more...]

Gold Prices Wait For the FOMC Statement. Gold Stocks: AUY, GLD, ABX, KGC, AUQ, GG, NEM, GFI

Gold pricesGold is stuck in a range as it waits for the FOMC statement at 12:30pm. Gold bulls are hoping for some sort of indication that the Fed is open to a new round of QE. With weakening macro data and the UK double dipping the hawkish tone that many expect may be a bit softer and open to further stimulus.

The Fed will also release its guidance on where it sees the economy and labor market heading. Their employment read may be a bit outdated because of the recent weakening in the jobs numbers. Late last year it was 200k+ a month but recently those numbers have been slipping southward. Gold bulls have plenty to look forward to and be a bit nervous about over the short-term.

Currently gold spot prices are down modestly, off $1.50 an ounce to $1640.00 [Read more...]

Gold Prices Up Slightly on Housing Data. Gold Stocks to Watch: KGC, ABX, NG, EGO, AUY, NEM, GG, JAG

Gold pricesLackluster housing data is giving gold bulls a renewed sense of hope for QE3. While the FOMC meetings that start today are not expected to be implicit in their support for further stimulus, analysts are thinking members will be dovish towards it.

Central bank buying of gold should help firm up the prices as gold bulls wait for any indication of a renewed QE policy. Demand for for gold also ticked up for gold thanks to an Indian festival.

The spot gold price is currently up just over $5 to $1643 per ounce. [Read more...]

Gold Prices Up Slightly On Data. Gold Stocks to Watch

Gold pricesAfter easing the past two days due to the Alcoa generated rally, gold prices are snapping back on a lackluster jobs report. While the labor market is still showing growth, the anemic pace will eventually be thrust to the forefront of concerns that investors have to address. The Italian bond auction also gave gold bulls some respite as 3-year borrowing costs increased.

On the equity markets you get the sense that the European and US markets have decoupled. The EU still lacks a sustainable solution for their debt issues. Noted gold bulls like Max Keiser insists that the US is living on borrowed time. If true, then when does that time run out. If we have a stellar earnings season, the prospects for QE3 become dim unless the jobs picture deteriorate. A lot of ifs out there for gold investors and that’s why you are not seeing a massive move in either direction.

The gold spot price is currently up $15 to 1,674.90 per ounce. [Read more...]

Gold Prices Fall Slightly as Market Rebounds, Gold Stocks to Watch

Gold pricesThe price of gold is down a little bit this morning as stocks bounced back sharply today after seeing their biggest one day decline of the year yesterday. Alcoa posted their earnings yesterday after market close and beat expectations.

Worries over Europe were also eased somewhat this morning as borrowing costs in Spain and Italy fell. Investors will be keeping a close eye on upcoming elections in Greece and France as opposition candidates have taken stances against European bailouts.

Gold prices are currently down $1.70 at $1,658.90. [Read more...]

Gold Prices Surrender Gains as Fed-Induced Rally Wanes, Gold Stocks to Watch

Gold pricesGold prices are back into their drifting mode after surrendering their gains from yesterday and earlier this morning. Bernanke’s speech last night gave no indication of further easing right around the corner. This has led the metal to sell off into the morning trading hours, flipping from green to red.

Traders seem to be waiting for actual action on the QE for stimulus front before jumping back in. They have been caught on the wrong side of the trade with all the QE3 on/off talk. Now it boils down to ‘Show them the money’ before they move back into risk assets such as gold.

Gold is currently down on the day, dropping over $4 per ounce to 1,636.90. [Read more...]

Gold Prices Stabilize on Weak Jobs Report, Gold Stocks to Watch

Gold pricesAfter trading without direction for the past few weeks, it may be that Gold investors got the catalyst they wanted. An underwhelming jobs report. With the market closed last Friday for the Easter holiday, the market got its first chance to react this morning. and react it has. The broader markets are tumbling, while gold prices trend higher.

One event to watch closely is a scheduled speech by Ben Bernanke in Georgia this evening. One has to wonder if the QE3 carrot will be dangled a bit closer after the jobs report and the negative reaction on wall street.

Gold prices are currently up just over $15 to $1,646 per ounce. [Read more...]

Gold Prices Look to Recover After Steep Loss, Gold Stocks to Watch

Gold pricesAfter the drubbing they took yesterday, gold prices have perked up a bit this morning as investors look to see if they can find the floor in the metal. Short sellers coming in to cover ahead of the long weekend are also helping bolster gold prices.

The labor picture today shows that QE3 may be a bit further off than gold bulls would like. All depending on the unemployment rate, the Fed meeting in late April may be a disappointment for those looking for gold to renew its push higher.

The one outlier that could be the gold price savior is Europe. They seem to be unable to solve the crisis over their sovereign debt. They have the kicking the can down the road down to an art-form but one day they may miss the kick or act too slow. That could be the catalyst that brings gold back to the forefront. Definitely something to watch in the coming months. [Read more...]

Gold Prices Set Adrift, Look For Direction. Gold Stocks Update

Gold pricesFor the third session in a row, gold prices seem to lack any real direction and just drift about. Today they lost the $1660 level but it was a break without any real downward pressure. The metal is off its two week high set after the Bernanke speech earlier in the week.

Most analysts agree that gold seems to be consolidating for a move to the upside. Bernanke’s signal for further easing just fuels the fire for gold prices. The move hasn’t happened yet because investors are waiting to see what the makeup of the new stimulus will be. Will it be QE3 or more like a QE2.5. Both have separate impacts on a rally’s strength. Definitely a space to watch going into the next fed meeting in late April. [Read more...]

Gold Prices Get the Bernanke Bump, Gold Stocks to Watch

Gold pricesNothing is music to a gold bull’s ears like the sound of QE3. Ben Bernanke’s speech yesterday on the need for more stimulus shook gold out its slump. Bernanke’s chief concern was over the actual strength of the labor market. His worry is that demand will temper any labor growth in the coming quarters.

One sector of demand that will not fall given his comments is gold. It pretty much feeds the thesis of noted gold bulls like Max Keiser and Marc Faber that this is central planning run amok. As of now gold prices are trying to break back above the $1700 per ounce.

Gold is currently trading $6 higher at $1,692.20. [Read more...]

Gold Prices Stick Saved By Bernanke, Gold Stocks to Watch

Gold pricesNever count a gold bull out. He always has the Federal Reserve in his corner ready to give a speech to send the metal rebounding. Today was that day. Fed Chief Ben Bernanke gave a speech this morning hinting that further stimulus is needed. He does not trust current labor trends to continue and therefore more stimulus should be on the table.

That’s all the gold bulls needed to hear. Hints of QE3 and more money printing. THis sent gold prices sharply higher, jumping nearly 1% on the news. Another miss in housing data did give credence to a continued recovery either. Pending home sales were expected to rise, instead they saw a dip from January to February. [Read more...]

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