gold prices forecast january 23 -27 2012

gold prices forecast january 23 -27 2012 ; Gold prices gained back last week, as economic data from the United States generally showed better than expected performance and week after the upbeat flow of major fundamentals and bond auctions through the week, while U.S. dollar declined as the sentiment improved in the market and optimism spread wide after the downgrades last week failed to prevent European nations from accessing the capital market successfully.

Prices rose Friday and on the week. The most-active February gold contract on the Comex division of the New York Mercantile Exchange settled at $1,664 an ounce, up 2.04% on the week. March silver settled at $30.509 an ounce, up 3.34% on the week.

Moreover, markets gained on the resumed Greek debt-talks as some progress was reached in finalizing a deal with the private sector on the percentage haircut and the coupon rate on the Greek bonds. However, the results are set to be provided by the end of this week. The importance of the talks is driven by the International Monetary Fund and European Union which demanded the nation to finish with the deal in order to become eligible to the offered second bailout package.

Traders will be eyeing the FOMC rate decision later on Wednesday, where the majority of analysts expect the FOMC to leave the current monetary policy unchanged. In addition, the GDP figures for the fourth quarter are expected at a strong 3.0% expansion compared with the prior 1.8%.

Nonetheless, traders will also continue to monitor the developments from the 17-bloc euro nation and the European leader’ latest moves to contain the debt crisis, where we expect volatility to persist through the sessions this week.

Moreover, several euro zone nations are preparing for bond auctions, where all eyes will be focused on the yields and demand on those bonds.

We continue to expect that gold prices will rise over the coming period, however, we also expect volatility to continue to dominate gold prices over the short term, as despite the recent improvement in overall conditions, yet risks are still threatening the progress of improvement, especially as the outlook for global economies remains full of uncertainty. We also expect Europe to continue to dominate the headlines next week. (source fxempire ) For the latest updates on the stock market, visit Stock Market Today

gold prices january 23-27 2012, gold prices predictions january 23 2012, gold prices outlook january 23-27 2012 For the latest updates PRESS CTR + D or visit Stock Market news Today

Related Post: