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Gold Price Trend Forecast Summer 2019

Gold Prices Rise on Unexpected Fall in US Hourly Earnings

Commodities / Gold and Silver 2015 Jan 12, 2015 - 12:59 PM GMT

By: GoldCore

Commodities

Today’s AM fix was USD 1,222.00, EUR 1,035.77 and GBP 808.09 per ounce.
Friday’s AM fix was USD 1,211.25, EUR 1.025.09 and GBP 799.61 per ounce.

Spot gold climbed $13.20 or 1.09% to $1,220.50 per ounce Friday and silver rose $0.15 or 0.92% to $16.46 per ounce. Gold and silver both performed strong last week up 2.78% and 4.24% respectively.


Spot gold in Singapore was trading up $4.55 or 0.37% at $1,227.2 near the end of the day.

Gold reached a 1 month high on speculation that the U.S. Federal Reserve will not act fast to increase interest rates to protect the economic expansion.

U.S. Employment data showed that hourly earnings for U.S. employees fell in December by the most since 2006, even though the payrolls number grew by 252,000.

Chart Courtesy of GlobalMacro360.com

Gold bullion priced in euros reached its highest since September 2013, as Greek citizens get ready for the January 25th election that is spurring gold’s safe haven demand.

Gold in euros traded at 1,035 EUR. Spot gold climbed to its highest since Dec. 11 at $1,231 an ounce, before edging 0.1 percent lower to $1,221.60 by 1019 GMT.

Gold for February delivery increased 0.5 percent to $1,222 an ounce on the Comex in New York.

Silver was up 0.5 percent at $16.57 an ounce, while platinum increased 0.1 percent to $1,229.49 an ounce and palladium rose 0.1 percent to $801.20.

The yellow metal is getting a boost in physical buying of coins and bars in Asia. Premiums on the Shanghai Gold Exchange ranged from $4 and $5 an ounce. Consumers are buying ahead of the Lunar New Year holiday next month.

Next week includes the Greek elections and the ECB policy meeting.

This update can be found on the GoldCore blog here.

Yours sincerely,
Mark O'Byrne
Exective Director

IRL
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E info@goldcore.com

UK
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LONDON 2
EC3V 3ND

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WINNERS MoneyMate and Investor Magazine Financial Analysts 2006

Disclaimer: The information in this document has been obtained from sources, which we believe to be reliable. We cannot guarantee its accuracy or completeness. It does not constitute a solicitation for the purchase or sale of any investment. Any person acting on the information contained in this document does so at their own risk. Recommendations in this document may not be suitable for all investors. Individual circumstances should be considered before a decision to invest is taken. Investors should note the following: Past experience is not necessarily a guide to future performance. The value of investments may fall or rise against investors' interests. Income levels from investments may fluctuate. Changes in exchange rates may have an adverse effect on the value of, or income from, investments denominated in foreign currencies. GoldCore Limited, trading as GoldCore is a Multi-Agency Intermediary regulated by the Irish Financial Regulator.

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