Spot Gold Prices for 1-27-2014

Spot Gold Prices for 1-27-2014

Hello my name is Chuck Dougherty and this
is the Spot Gold Prices Daily Wrap-up. The Spot Gold prices for Monday the 27th of
January saw Gold prices opening at around $1,271.00. Today was bad for gold prices as the global
financial markets began to calm down as some of the key players took steps to try and fix
things. The Central bank in China injected more money into its’ financial system to try
and stimulate some growth. The Central bank in India raised interest rates to help prop
up its currency. It is reported that Turkey will probably do something similar to help
their economy since their currency value dropped hard. Much of the problems for the emerging global
markets was that they grew very fast as investors trying to get themselves higher returns moved
away from buying our Treasuries while the stimulus was in full force. Now with the tapering
many people are re-thinking those markets. Remember Tuesday and Wednesday are the FOMC
meeting days this week for this month so if they announce more tapering as expected it
could be even tougher on those already strained emerging markets. After a tiny jump up to the high of around
$1,271.30 things were mostly downhill for gold prices giving up all of the gains from
friday. We hit the low price of around $1,252.50 but we ended the trading day higher than that
at around $1,257.50. This still resulted in a decent loss in the price of gold of around
$13.50. Thank you for watching this is Chuck Dougherty
and this was the Spot Gold Prices Daily Wrap-up for January 27th, 2014. Please be sure you subscribe and don’t forget
to comment and like us as well. If you need more information on precious metals
be sure you visit our website: See you in the next Gold prices episode! Until
then, take care.

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