METALS OUTLOOK: U.S. Fiscal Fight, #Unemployment Data To Keep #Gold In Check ▸ OnKit.co/pi9hJ The U.S. Congressional showdown over government funding and a monthly jobs report will keep gold market participants occupied next week. December gold futures rose Friday, settling at $1,339.20 an ounce on the Comex division of the New York Mercantile Exchange, and rose 0.5% on the week. December silver rose Friday, settling at $21.8310 an ounce, but fell 0.49% on the week. In the Kitco News Gold Survey, out of 36 participants, 19 responded this week. Of those 19 participants, 11 see prices up, while four see prices down and four are neutral or see prices trading in a range. Market participants include bullion dealers, investment banks, futures traders, money managers and technical-chart analysts. Gold prices rose slightly this week as the market held in a relatively modest range as bickering between Democrats and Republicans in Congress over the continuing resolution to fund the U.S. government left a number of market participants on the sidelines, several analysts said. The lackluster trading action was evident in other markets, too, with U.S. Treasury bond yields creeping lower and the Standard & Poor’s 500 stock index futures drifting lower. Analysts said markets as a whole also continued to digest the implications of the Federal Reserve’s decision not to taper its quantitative easing program... [continued]
Posted on: Sat, 28 Sep 2013 01:00:16 +0000
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