Gold continued its decline May 21 as the U.S. dollar strengthened and speculation that the U.S. Federal Reserve may reduce its stimulus program rises.
Articles Tagged "federal reserve"
Gold prices fell today, putting the metal on track for its longest run of losses since March 2009.
Gold prices received a little reprieve from bad economic conditions as Goldman Sachs cut its gold forecast.
Precious metals miners and explorers were dragged down by Wednesday's broad stock market sell off as well as signals that quantitative easing, the US Federal Reserve's stimulus program, may end by summer.
Gold Investing News sat down with Chris Powell of the Gold Anti-Trust Committee to discuss what is going on in the gold market in terms of manipulation.
The gold price started the week on a tear as bargain hunters put the pedal to the metal on bullish comments from the US Fed chair. Good economic news, however, beggared the price, and by the end of the week gold was struggling again.
The gold price failed to catch fire this week even though the US Federal Reserve announced news that was bullion-supportive.
Reuters reported the drop in the price of gold, down 0.7 percent to $1,757.69 an ounce, outperforming declining crude oil and grain markets due to the U.S. Federal Reserve's monetary stimulus uncertainty.
Gold hit a seven-month high Thursday with the US Federal Reserve's decision to push out another quantitative easing program. Silver and North American stock markets also tracked higher on the news.
All eyes are on Federal Reserve chairman Ben Bernanke's speech Friday in Jackson Hole, where he is expected to state the Fed's intentions regarding another stimulus package.