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Gold Seeker Weekly Wrap-Up: Gold Holds Near Unchanged While Silver Rises Almost 3% on the Week

by Chris Mullen, Gold Seek:

The Metals:

Gold fell $4.20 to $1240.30 at about 8:45AM EST, but it then jumped up to $1250.50 in early afternoon trade and ended with a gain of 0.22%. Silver rose to as high as $18.259 and ended with a gain of 0.5%.

Euro gold rose to about €1069, platinum remained at $947, and copper fell a couple of cents to about $2.67.

Gold and silver equities rose over 1% by midday before they drifted back lower into the close, but they still ended with modest gains on the day.

Next week’s economic highlights include Construction Spending and the ISM Index on Monday, Factory Orders and the Trade Balance on Tuesday, ADP Employment, ISM Services, and FOMC Minutes on Wednesday, Initial Jobless Claims on Thursday, and March’s jobs data, Wholesale Inventories, and Consumer Credit on Friday.

Oil edged higher in mixed trade as the U.S. dollar index fell and treasuries rose after this morning’s round of dovish Fedspeak cast doubt about the pace of future interest rate hikes.

 

The Dow, Nasdaq, and S&P waffled near unchanged on political uncertainty.

 

Among the big names making news in the market Friday were Credit Suisse, Blackberry, Netflix, and Boeing.

Read More @ GoldSeek.com

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