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Precious Metals Update

Daily news and insights on finance, the economy and precious metals.

January 27, 2012

Recent Industry News

GDP DATA AND EXTENDED LOW INTEREST RATES SUPPORT GOLD

Jan. 27 - Gold moved higher on Friday following the release of U.S. GDP data showing the economy grew at a slower rate than expected in the last quarter of 2011 growth was slower than expected. Gold traded at $1729.90 per ounce at 7:56 a.m. Pacific Time on the New York Spot Market. Silver was also higher at $33.91 per ounce. » Read the rest.

GOLD RISES AS FED PLEDGES RATE HOLD THROUGH 2014

Jan. 26 - The price of gold rose to a six-week high on Thursday after the Federal Reserve announced plans to hold interest rates at "exceptionally low" levels through the end of 2014. Gold traded at $1727.70 per ounce at 6:34 a.m. Pacific Time on the New York Spot Market with silver higher at $33.80 per ounce. Gold extended yesterday's gain which had its largest one-day rise in three mon » Read the rest.

FED TO PROVIDE INTEREST RATE EXPECTATIONS

Jan. 25 - Gold eased as the euro fell ahead of a policy statement from the Fed, with the metal trading at $1654.10 per ounce at 6:42 a.m. Pacific Time on the New York Spot Market with silver at $31.79 per ounce. European finance ministers and Greece's private creditors have not yet agreed to debt restructuring terms, weighing on the region's common currency. » Read the rest.

MONEY MANAGERS OPTIMISTIC ON METALS

Jan. 23 - Gold reached a six-week high as the euro gained and commodity prices rose, trading at $1673.80 per ounce at 6:47 a.m. Pacific Time on the New York Spot Market with silver at $32.40 per ounce. Gold has risen for three straight weeks and is up approximately seven percent for the year to date. » Read the rest.

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* Prices are indications only. Call Goldline for most current spot prices. More information