Spot Gold Prices for 3-19-2014

Spot Gold Prices for 3-19-2014

Hello my name is Chuck Dougherty and this
is the Spot Gold Prices Daily Wrap-up. The Spot Gold prices for Wednesday the 19th
of March saw Gold prices opening at around $1,356.80. Gold prices dipped quite a bit Wednesday leading
up to and following the FOMC meeting results. It was no surprise to most that the Fed decided
to taper the QE by another 10 billion since nothing of note occurred in the economy to
warrant them to stop the taper. What was unexpected were the messages coming from the FOMC members
that we could see interest rates rise by as soon as next year which infers that our economy
is healthy regardless of all of the mixed data recently. Now this could all be the Fed’s
attempt at cheer-leading hoping that if they get people to believe the economy is doing
better than it will but it is hard to tell yet since much of the data for the last few
months may have well been tainted by the weather. Gold prices declined right from the start
and it stayed that way a good part of the day with prices dipping down to the low of
around $1,327.90 in the evening hours. From there we ended the trading day at around $1,332.00
which resulted in a decent loss in the price of gold of around $24.80. It looks like most of the geopolitical issue
safe haven demand has exited gold and now we can get to see how strong gold really is
right now will all of the headwinds it has to deal with this year. Thank you for watching this is Chuck Dougherty
and this was the Spot Gold Prices Daily Wrap-up for March 19th, 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.

Be the first to comment

Leave a Reply

Your email address will not be published.