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Old 04-22-2012, 08:36 AM
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Goldsmithy Goldsmithy is offline
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"The direction of the U.S. dollar versus the euro and a meeting of the Federal Reserve’s monetary-policy committee will influence the direction for the precious metals markets next week.

Weekend events, such as the outcome of the International Monetary Fund meeting and the first round of French presidential elections, may also impact precious-metals prices.

Prices were mixed on Friday and mixed on the week. The most-active June gold contract on the Comex division of the New York Mercantile Exchange rose Friday, but settled at $1,642.80 an ounce, down 1.05% on the week. May silver fell Friday, but settled at $31.651 an ounce, up 0.83% on the week.



The U.S. dollar’s movement could be what determines where gold trades next week. Some cited Friday’s weakness in the dollar and strength in the euro as potentially supportive for gold. Normally gold and the dollar trade inversely because gold is denominated in dollars. Just how much strength the euro will have next week could depend on the outcome of the French presidential election, with current President Nicholas Sarkozy and socialist candidate Francois Hollande expected to advance to the second round. The second vote will occur on May 6.

Brown Brothers Harriman said that Hollande has suggested European Central Bank should cut rates to help the eurozone while Sarkozy has said that the ECB should play a “pro-growth” role for Europe. “No matter who wins the election in France, the fraying of Franco-German relations is already being seen and is likely to get worse as the French economy outlook deteriorates,” BBH said.





“Gold is losing its luster and trade (Friday) is an example of the situation. When was the last time we have seen the dollar index down 45 points and gold struggle…? This year traders are not rewarded being long. Traders no longer say don’t be short as there are opportunities on both sides of this market now. The charts look bearish with a succession of lower highs and lows. I expect gold to trade lower next week,” he said.Some suggested that gold is tripping on its own weight because of its range-bound trade lately."

These have bee C & P'ed from www.kitco.com articles. I just thought you all might find them interesting.
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Old 04-22-2012, 08:40 AM
BrianL76 BrianL76 is offline
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Anytime I see the words "expert" or "experts" in anything financial related, that's my signal to stop reading immediately--especially after 2007-2009. Just sayin'...
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Old 04-22-2012, 11:31 AM
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Quote:
Originally Posted by BrianL76 View Post
Anytime I see the words "expert" or "experts" in anything financial related, that's my signal to stop reading immediately--especially after 2007-2009. Just sayin'...
I agree with you. NO ONE KNOWS THE DIRECTION OF THE PRECIOUS METALS MARKET. It is forming the "NEW" normal for metal commodities. But it is fun to watch (and how often the experts are wrong )
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