Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | UraniumSeek.com 

Commentary : Gold Stock Review : Markets : News Wire : Quotes : Radio : Silver : Stocks - Main 
  
 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

Gold Seeker Closing Report: Gold and Silver Find Slight Gains Before Fed Day
By: Chris Mullen, Gold-Seeker.com

Jeff Desjardins and James Fraser Look at Junior Miners in a Way that May Surprise You
By: The Mining Report

Can gold finally recover?
By: Clif Droke

Gold: Janet & Raj Stoke The Bulls
By: Stewart Thomson

The Emergence of the US Petro-dollar
By: Gary Dorsch, Editor, Global Money Trends

But "why" are gold and silver prices manipulated?
By: Bill Holter

Your Artificial Knee Might Get You Groped
By: Ann Pringle

Dollar and Gold Elliott Wave Projection
By: Trader MC

Central Bank Bullying: Investor Implications
By: Axel Merk

The Collapse Of U.S. Silver Stocks As Public Debt Skyrockets
By: Steve St. Angelo, SRSrocco Report

 
Search

GoldSeek Web

 
Gold Prices Hover, Trading Sluggish Ahead of Fed Meeting



-- Posted Monday, 23 April 2012 | | Disqus

Gold’s London AM fix this morning was USD 1,632.00, EUR 1,240.97, and GBP 1,014.42 per ounce. Friday's AM fix was USD 1,640.00, EUR 1,246.30 and GBP 1,018.25 per ounce.

Gold gained $1.20 or 0.07% in New York and closed at $1,642.00/oz on Friday. Gold initially traded sideways in Asia and then took a dip downward to $1,631.37. A slight bounce now shows gold near $1,632.69 in European trading.

Gold fell 1% last week and a stronger dollar has weakened the demand for gold as an alternative investment.  The dollar gained strength against the euro as France’s Presidential elections have seen Sarkozy with only 27.1% of the vote behind Hollande’s 28.6% and Le Pen’s surprise 18.1%. Many people see the election as another disruption into a solution to the euro zone crisis. There is also the fear of a dangerous break of the Franco-German alliance if Sarkozy is ousted by a socialist.

The IMF meeting ended yesterday and leading world economies agreed to more than double the lending power of the IMF in an effort to protect the global economy from the euro zone contagion. This was still short of Lagarde’s $600 billion goal.

The Netherlands  was drawn into the spotlight over the weekend when the government failed to agree on budget cuts, making elections nearly unavoidable and casting doubt on its support from future euro zone aid.

Investors will watch the China HSBC manufacturing survey at 1430 GMT as a measure of the conditions of the world’s 2nd largest economy.  The Federal Reserve meets on Tuesday and Wednesday, and its statement on monetary policy is given on April 25th.  The Bank of Japan meets on Friday and is expected to ease again.

Trading is sluggish as the market waits for clues.

For breaking news and commentary on financial markets and gold, follow us on Twitter.

NEWS
Gold May Drop as Dollar Strengthens Before Data, Fed Statement – Business Week

Gold hovers around $1,640/oz; eyes on Fed meeting - Reuters

Italian Police Seize $5 billion of U.S. Securities - Reuters

Sarkozy, Hollande to Square Off as Le Pen Has Record Vote - Bloomberg

COMMENTARY
Get Physical Gold & Silver – Zero Hedge

The Best Reason in the World to Buy Gold - Forbes

James Rickards on Central Banks Obsession with Gold and Why more QE is Imminent! – Future Money Trends         

Auguries — Doors of perception – Financial Post

GoldCore Limited
Ireland:

14 Fitzwilliam Square
Dublin

United Kingdom:
No. 1 Cornhill
EC3V 3ND UK

IRL 
+353 (0)1 632  5010
UK 
+44 (0)203 086 9200
US 
+1 (302)635 1160

Twitter, Facebook, YouTube, LinkedIn:

www.twitter.com/goldcore
www.facebook.com/GoldCore
www.youtube.com/GoldCoreLimited
http://www.linkedin.com/pub/mark-o-byrne/5/5a3/b43


-- Posted Monday, 23 April 2012 | Digg This Article | Source: GoldSeek.com

comments powered by Disqus



 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2014


© GoldSeek.com, Gold Seek LLC


GoldSeek.com Supports Kiva.org

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on GoldSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Disclaimer

The views contained here may not represent the views of GoldSeek.com, its affiliates or advertisers. GoldSeek.com makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of GoldSeek.com, is strictly prohibited. In no event shall GoldSeek.com or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.
OilSeek.com