Subscribe for 12 months with recurring billing - $199

Buy 12 months of subscription time - $199

 

Search Gold Prices
Gold Price
[Most Recent Quotes from www.kitco.com]
Our RSS Feed

Gold Updates by Mail

Enter your email address:

Follow Us on Twitter
« The US Dollar dipped below the ‘70’ Level briefly today | Main | Gold Prices: The Coming End To This Bear Phase »
Wednesday
May072014

Yellen comments boost U.S. stocks; gold falls

 

(Reuters) - U.S. stocks mostly rose on Wednesday, adding to their gains in late trading after Federal Reserve Chair Janet Yellen indicated continued central bank support for the U.S. economy, while stocks in other regions were flat.

Many other markets closed before the acceleration in U.S. gains. Equities were volatile throughout the day, with investors parsing comments from Russian President Vladimir Putin indicating a possible easing to the geopolitical concerns over Ukraine that have weighed on markets.

Gold, viewed as a safe-haven asset, fell 1.4 percent, while the U.S. dollar rose slightly against a basket of currencies, though it remained near a six-month low.

Yellen said the U.S. economy was still in need of support from the central bank given the "considerable slack" in the labor market. She also cited the housing sector and geopolitical tensions as issues of concern.

Putin said he was ready to discuss a way out of the Ukrainian crisis and called on separatists in east Ukraine to postpone a May 11 referendum on the status of the mostly Russian-speaking region.

To read this post in full please click here.

The miners have started 2014 very well indeed on the back of rising gold prices, so the question is;Is this the real deal or another head fake? Is the bottom really in? Could there be a final capitulation just ahead of us? Will the summer doldrums take the PMs lower?

Winners of the GoldDrivers Stock Picking Competition 2007

If you would like to know which stocks we are buying and selling please join us atStock Trader our premium investment service.

Subscribe for 12 months with recurring billing - $199

Buy 12 months of subscription time - $199

If you are new to investment in the precious metals sector then you can subscribe of our FREE newsletters regarding gold stockssilver stocks and uranium stocks, just click on the links and enter your email address and we will email you our articles along with other interesting posts.

Please remember to check your spam folder once you have subscribed to ensure that our verification email has not gone astray and you are getting our emails.

PrintView Printer Friendly Version

EmailEmail Article to Friend

Reader Comments

There are no comments for this journal entry. To create a new comment, use the form below.

PostPost a New Comment

Enter your information below to add a new comment.

My response is on my own website »
Author Email (optional):
Author URL (optional):
Post:
 
Some HTML allowed: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <code> <em> <i> <strike> <strong>