Tangible Investments

January 26


Weekly Gold Market News

Short Term Outlook For Gold Improving

Los Angeles CA, (Tangible Investments) - by James O’Dell - Gold continued to consolidate recent gains on Monday, after precious metals prices turned modestly lower on Friday as Gold eased $8.00 or 0.61 percent to finish the week at $1,294.30 an ounce even as the yellow metal posted its third straight weekly gain following the European Central Bank's (ECBs) launch of its bigger than expected multi-billion euro quantitative easing (QE) program. Silver dipped $0.04 or 0.22 percent to end the week at $18.31 an ounce, while the Gold/Silver ratio fell to 70.69.

The week began with Barclays announcing that it was somewhat bullish on short term Gold given the uncertainty in the marketplace. "Unexpected break above the 1238 December range highs has compelled to pare back our bearish view in the short-term as safe-haven flow signals scope for a move higher in range," said Barclays' analysts.

Monday also saw the Shanghai index fall 7.7 percent, its biggest one day drop in more than six years, after the China Securities Regulatory Commission’s announcement the previous week that three of the nations' biggest brokerage firms were suspended from extending margin accounts after violating trading regulations.

The biggest news for the week was the ECB announcement of the launch of its multi-billion euro quantitative easing (QE) program to revive the faltering euro zone economy. ECB President Mario Draghi said the bank will buy 60 billion euros a month in assets through September 2016, which is more than an earlier proposal made by the Executive Board to buy just 50 billion euros each month, according to officials.

"Gold is reacting to what Draghi has to say, to the bigger package that was announced and to rebounding inflation expectations in the euro zone," said ABN Amro's Georgette Boele. “It’s slightly higher than what the market was expecting, so we saw some buyers come in to the Gold market,” said Adam Klopfenstein, of Archer Financial Services Inc., in a telephone interview. “Investors are torn between whether to continue the flight to quality, or invest more cash into the equity market because of further injection of cheap capital.”

Meanwhile, noted investor and publisher of the Gloom Boom & Doom Report newsletter, Marc Faber, says that he is not too impressed with the aggressive easing tactics now taking place at central banks around the world, and suggests that the best way to bet against those programs is to buy Gold.

“I think people will wake up finally and say, if they can short central banks, that is the trade of the century,” said Faber, while adding. “The central banks will be exposed for all the fraud they commit.” Buy Gold, insists Faber. “My view is that when confidence in central banks finally collapses, then Gold has a 30 percent upside potential, easily, this year.”

Going forward, improving investor sentiment is evident as bullish bets on Gold futures and options (paper Gold) rose for a fourth straight week, at the same time holdings of Gold backed exchange traded funds (ETFs) have shown steady improvement.

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Latest Spot Prices

Gold 1261.30 1262.00 $23.40 1.82%
Silver 17.02 17.06 $0.99 5.49%
Platinum 1229.00 1232.00 $28.00 2.22%
Palladium 775.00 778.00 $19.93 2.50%

Other News This Week

Fed Rate Increase Could Be On Hold Until 2016

TANGIBLE INVESTMENTS - Los Angeles - by James O Dell - Gold and Silver prices turned sharply lower on Thursday, with Gold easing $26.70 or 2.08 percent to $1,258.00 an ounce, a two-week low, and... [Read More]

Fed Statement Boosts Dollar But Pressures Metals

Los Angeles CA, January 29 (Tangible Investments) - by James O Dell - The price of Gold edged lower on Wednesday, easing $7.60 or 0.59 percent to close at $1,284.70 an ounce as the dollar... [Read More]

Gold Eases On Mild Profit Taking As Fed Meeting Non-Event

TANGIBLE INVESTMENTS - Los Angeles - by James O Dell - Gold and Silver prices were mixed on Wednesday, with Gold easing $4.70 or 0.36 percent to $1,287.60 an ounce, at the time of this... [Read More]

Stunning Gold Market Prediction By Noted Author

Los Angeles CA, January 28 (Tangible Investments) - by James O Dell - Gold and Silver prices edged higher on Tuesday, with Gold advancing $10.90 or 0.85 percent to close at $1,292.30 an ounce as... [Read More]

Gold Climbs On Weak Data Ahead Of Fed Meeting

TANGIBLE INVESTMENTS - Los Angeles - by James O Dell - Gold and Silver prices turned moderately higher on Tuesday, with Gold rebounding $11.40 or 0.93 percent to $1,293.30 an ounce, while Silver added $0.16... [Read More]

About Tangible Investments

Led by renowned coin expert Silvano DiGenova, Tangible Investments is a leader in the Gold IRA, Bullion, Rare Coins, Jewelry, Fine Watches, Fine Art, and Antiques markets. With 30+ years in business and a collective 200+ years of industry experience, Tangible Investments is one of America's most successful rare coin traders and the top buyer in the country. Call Us Today at 1-888-655-9255 to see how we can help you diversify your portfolio and protect your retirement savings.

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