gold price prediction
The U.S. Federal Reserve pixie dust resulted in higher gold prices this week, much as it lifted silver prices and stocks.
Gold buyers reacted enthusiastically to the Fed's announcement on Wednesday that it would not reduce its $85 billion a month bond purchases, known as quantitative easing, or QE for short.
Gold prices leaped the most in 15 months, after the Fed's "no taper" move, to about $1,365 an ounce.To continue reading, please click here
Why Gold Is Going Down Today
Precious metals investors once again are left to wonder why gold is going down today as the metal hits its fourth consecutive day of declines.
In trading Thursday, gold for December delivery finished the session down $33.20, off 2.4%, to $1,333.60 per ounce. Gold prices on Thursday fell more than $30 in a matter of seconds.
The carnage continued today (Friday). Gold slipped to a five-week low on Friday, off roughly $72 an ounce over the week, marking the yellow metal's worst week since June.
The reasons why gold is going down today are partly related to some trading drama that occurred with gold yesterday...