Tangible Investments

February 08

2016

Weekly Gold Market News

Gold Posts Best Week In Nearly Three Years

Los Angeles CA, (Tangible Investments) - by James O'Dell - The Gold price rallied $13.80 or 1.19 percent on Friday to post the yellow metal's biggest weekly gains since July 2013 and close at $1,174.40 an ounce. The price of Silver rose $0.18 or 1.21 percent on Friday to close at $15.06 an ounce, while theGold/Silver ratio inched down to 77.98.

The week began with the U.S. Mint reporting sales of American Eagle Gold bullion coins in January totaling 124,000 ounces, which is 53 percent higher than a year ago. “The Australian Mint likewise reported a substantial plus in Gold coin sales in January to 47,800 ounces,” said Commerzbank. The U.S. Mint alsoreports that a robust 5.95 million ounces of American Eagle Silver coins were also sold last month, up 7.7 percent from January 2015.

"In the near term Gold is finding some support in the dovish tone from central banks last week, notably the Fed and the Bank of Japan," said Jens Pedersen, of Danske Bank. With interest rates near zero, the "only option is to move either towards zero or negative rates as the Japanese and selected Europeancountries are already doing in a desperate attempt to force banks to lend", said Edward Meir of INTL FCStone. "Whatever the case, this should beconstructive for Gold."

Crude oil prices remained near multi-year lows mid-week, as European shares retreated and the dollar edged down 0.2 percent against a basket of major currencies. The dollar tumbled after New York Fed President, William Dudley, said that tightening financial conditions and weakening global prospects couldhave "significant consequences" for the U.S. economy.

Dudley's remarks added to market speculation that it is unlikely the Fed will be raising interest rates in March. "The assessment of Fed policy has changed quite dramatically," said Peter Fertig, a consultant for Quantitative Commodity Research.

Analysts expect crude oil to remain weak and that is interpreted as a sign of sluggish global economic activity, which hurts equities. “This along with geopolitical stresses for producers associated with low oil prices is likely to keep buoying Gold,” said HSBC.

The jobs report was released on Friday, and according to the latest data from the Bureau of Labor Statistics, there were 151,000 jobs created in January, down sharply from December’s 292,000, and well below expectations of 192,000 jobs. The weaker than expected jobs data could extend the current rally inGold.

Preserve your wealth and secure your retirement by making a tangible investment in physical Gold and Silver in 2016. Call Toll Free 1.800.741.5014 and allow the friendly staff at Tangible Investments owned and operated by world-renowned coin expert Silvano DiGenova, to assist you in your next purchase or sale.Click here to check out our eBay store.

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Latest Spot Prices

METALBIDASKCHG$CHG%
Gold1238.401239.10$0.800.07%
Silver15.7615.80$0.010.06%
Platinum955.00958.00$1.000.10%
Palladium526.50529.50$3.500.67%

Other News This Week

Gold Posts Best Weekly Advance In Over 4 Years

Los Angeles CA, February 12 (Tangible Investments) - by James O Dell - The price of Gold dipped in early trading on Friday, easing 1.14 percent to $1,233.00 an ounce after rallying $49.50 or 4.13... [Read More]

Gold And Silver Prices Soar As Equities Slide

Los Angeles CA, February 11 (Tangible Investments) - by James O Dell - Gold and Silver prices extended gains in early trading on Thursday, with Gold soaring 2.75 percent to $1,230.60 an ounce after climbing... [Read More]

Gold Price Poised To Push Higher

Los Angeles CA, February 10 (Tangible Investments) - by James O Dell - The Gold price edged slightly lower in early trading on Wednesday, with Gold easing 0.44 percent to $1,183.90 an ounce after slipping... [Read More]

Gold Price Climbs Amid Uncertain Equity Markets

Los Angeles CA, February 9 (Tangible Investments) - by James O Dell - Gold and Silver prices edged higher in early trading on Tuesday as equities continued their slide, with Gold climbing 0.77 percent to... [Read More]

Gold Price Soars On Rate Hike Timing

Los Angeles CA, February 8 (Tangible Investments) - by James O Dell - The Gold price hit three-month highs in early trading on Monday, soaring 1.57 percent to $1,192.80 an ounce after rallying $13.80 or... [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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