Gold consolidated to $1140 last week after the Federal Open Market Committee (FOMC) met and issued a “hawkish hint” that they might raise interest rates a quarter-point at their December meeting.  Although 0.25% is a trivial amount and it is way overdue (we’ve been at near-zero short-term interest rates since late 2008), that “hint” pushed gold down.  However, the economic news has been downbeat and the Fed will not likely raise rates if job growth and GDP growth remain anemic over the next few weeks. 

Gold consolidated to $1140 last week after the Federal Open Market Committee (FOMC) met and issued a “hawkish hint” that they might raise interest rates a quarter-point at their December meeting.  Although 0.25% is a trivial amount and it is way overdue (we’ve been at near-zero short-term interest rates since late 2008), that “hint” pushed gold down.  However, the economic news has been downbeat and the Fed will not likely raise rates if job growth and GDP growth remain anemic over the next few weeks. 

Gold is up $60 so far in October. Some of the reasons include (1) a weaker dollar, (2) a slow-growth economy, which will likely lead the Fed to delay any interest rate increase when they meet this week; (3) unrest in the Middle East; (4) rising demand worldwide, including Wall Street and seasonal buying for jewelry demand in India and elsewhere; (5) More central bank buying in Russia, China and elsewhere.

Gold is up $60 so far in October. Some of the reasons include (1) a weaker dollar, (2) a slow-growth economy, which will likely lead the Fed to delay any interest rate increase when they meet this week; (3) unrest in the Middle East; (4) rising demand worldwide, including Wall Street and seasonal buying for jewelry demand in India and elsewhere; (5) More central bank buying in Russia, China and elsewhere.

Gold is up $60 so far in October. Some of the reasons include (1) a weaker dollar, (2) a slow-growth economy, which will likely lead the Fed to delay any interest rate increase when they meet this week; (3) unrest in the Middle East; (4) rising demand worldwide, including Wall Street and seasonal buying for jewelry demand in India and elsewhere; (5) More central bank buying in Russia, China and elsewhere.

Gold rose to $1185 (and silver hit $16) last Thursday (October 15) for the first time in nearly four months, since June 22.  From its low of $1080 in late July, gold is up over $100.  Gold’s strongest rise came in the first half of October, when it rose from $1114 (on October 1) to $1185 (October 15). 

Gold rose to $1185 (and silver hit $16) last Thursday (October 15) for the first time in nearly four months, since June 22.  From its low of $1080 in late July, gold is up over $100.  Gold’s strongest rise came in the first half of October, when it rose from $1114 (on October 1) to $1185 (October 15). 

Gold is back over $1160 on Monday morning, up from a low of $1080 on July 31.  Stocks have been moving in an opposite direction since July 31.  Silver is nearing a break-even point for the year-to-date.  Part of this surge is due to weak economic statistics giving investors further indication that the Fed might not raise interest rates this year.  We’ve also seen strong demand for gold and silver coins, which has overwhelmed many of the world’s bullion mints, leading to rising premiums on bullion coins.

Gold is back over $1160 on Monday morning, up from a low of $1080 on July 31.  Stocks have been moving in an opposite direction since July 31.  Silver is nearing a break-even point for the year-to-date.  Part of this surge is due to weak economic statistics giving investors further indication that the Fed might not raise interest rates this year.  We’ve also seen strong demand for gold and silver coins, which has overwhelmed many of the world’s bullion mints, leading to rising premiums on bullion coins.

Gold rose $35 in two hours on Friday, from 8:00 am to 10:00 am, Eastern Time, due mostly to the downbeat jobs report, released at 8:30 am.