• When you click on links to various merchants on this site and make a purchase, this can result in this site earning a commission. Affiliate programs and affiliations include, but are not limited to, the eBay Partner Network.

Archived

This topic is now archived and is closed to further replies.

What will this bit of news do to the price of gold?

Started by Leothelion,

5 posts in this topic

DaveG

DaveG

Posted
Posted

Generally speaking, I'd say that if an improving US economy causes overseas investors to want to invest here, then it's likely that that added demand for the US dollar would increase its value and negatively affect the price of gold.

Link to comment
Share on other sites
jtryka

jtryka

Posted
Posted

Well, we had a good jobs report and better than expected durable goods orders this morning, and the response in the metals market was a $3.50 increase in spot gold. It seems that over time, the movements in gold have become less clearly related to overall economic activity, so it makes predicting moves based on macroeconomic news that much more difficult.

Link to comment
Share on other sites
dakra

dakra

Posted
Posted

I actually haven't read it yet so I can't give the details but a report went over Reuters in regards to a companies hedge stance on Gold being less bullish.

 

...I'm busy, will try to report more later.

 

-Dave

Link to comment
Share on other sites
DaveG

DaveG

Posted
Posted

This morning, apparently because the economic news wasn't "good enough", the dollar fell against the euro, which probably drove the increase in the price of gold.

Link to comment
Share on other sites
Go to topic listing