Gold and Silver prices are holding steady today as investors wait to see what takes place next in the markets. Spot price will continue to bounce back and forth for time being as investors short on gold combined with those looking to purchase play their hand.
We believe that the new economic data given today will show improvement, especially in the jobless rate. Again, most of the new jobs created are low-wage, part-time positions.
As usual, the Fed is playing the same game week after week concerning stimulus. Talks and rumors of tapering stimulus are as numerous as the stars.
As long as the battle of emotions continues to play out with investors, gold prices will fluctuate around $1300. Once investors face the reality that all the Fed can do now is print more money, gold will rebound heavily. When that will happen is anyone’s guess. Emotions are a powerful force.
Gold Goliath is not your typical gold dealer.