Precious metals prices are mixed on Thursday, with the price to invest in Gold inching higher to $1,679.90 an ounce, and the price to invest in Silver easing to $31.75 an ounce, as the European Central Bank (ECB) kept interest rates at 0.75 percent and the Bank Of England (BOE) kept interest rates at a historic low of 0.5 percent, the lowest rate since 1694. Gold remains trapped in a narrowing trading range, noted Alex Thorndike, of MKS Capital, and a breakout of the trading pattern is imminent.
The Fed’s monetary policy will be “accommodative” until the labor market improves, said Chicago Fed President Evans on Thursday. “We’re going to keep policy low until the unemployment rate is 6.5 percent,” he said on CNBC. “I … think that 6.5 percent unemployment isn’t going to be achieved until about the middle of 2015." The U.S. central bank left its monthly $85 billion bond-buying stimulus plan, in place last month with a pledge to continue purchases until there is a substantial improvement in the labor market.
Evans also said that he wants to see a gain of at least 200,000 jobs a month for the next six months, and he wants an above-trend growth in gross domestic product (GDP), before he is ready to dial back the stimulus program. "Once we get momentum and achieve escape velocity, either later this year or 2014, I think unemployment will move down with momentum," said Evans. The Fed's ultra-loose monetary policies will continue which is bullish for the precious metals.
Meanwhile, a global currency war is taking shape like nothing the U.S. has seen since the 1930s, according to Morgan Stanley. Japan's shift to devalue its yen in order to raise exports and boost its economy was “a game changer,” said Morgan Stanley in a research note on Thursday. Japan’s move brings the central banks in advanced countries closer to “competitive depreciation,” which is “one step closer to a currency war.” Protect your wealth and your retirement during these times of economic and geopolitical uncertainty, invest in Gold and invest in Silver in 2013.
Precious metals prices are mixed on Thursday, with the price to invest in Gold inching higher to $1,679.90 an ounce, and the price to invest in Silver easing to $31.75 an ounce, as the European Central Bank (ECB) kept interest rates at 0.75 percent and the Bank Of England (BOE) kept interest rates at a historic low of 0.5 percent, the lowest rate since 1694. Gold remains trapped in a narrowing trading range, noted Alex Thorndike, of MKS Capital, and a breakout of the trading pattern is imminent.
The Fed’s monetary policy will be “accommodative” until the labor market improves, said Chicago Fed President Evans on Thursday. “We’re going to keep policy low until the unemployment rate is 6.5 percent,” he said on CNBC. “I … think that 6.5 percent unemployment isn’t going to be achieved until about the middle of 2015." The U.S. central bank left its monthly $85 billion bond-buying stimulus plan, in place last month with a pledge to continue purchases until there is a substantial improvement in the labor market.
Evans also said that he wants to see a gain of at least 200,000 jobs a month for the next six months, and he wants an above-trend growth in gross domestic product (GDP), before he is ready to dial back the stimulus program. "Once we get momentum and achieve escape velocity, either later this year or 2014, I think unemployment will move down with momentum," said Evans. The Fed's ultra-loose monetary policies will continue which is bullish for the precious metals.
Meanwhile, a global currency war is taking shape like nothing the U.S. has seen since the 1930s, according to Morgan Stanley. Japan's shift to devalue its yen in order to raise exports and boost its economy was “a game changer,” said Morgan Stanley in a research note on Thursday. Japan’s move brings the central banks in advanced countries closer to “competitive depreciation,” which is “one step closer to a currency war.” Protect your wealth and your retirement during these times of economic and geopolitical uncertainty, invest in Gold and invest in Silver in 2013.
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TO BUY OR SELL GOLD OR ANY OTHER INVESTMENT VEHICLE LISTED.
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I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader.
I do not accept responsibility for being incorrect in my speculations on market trend.
I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader.
I do not accept responsibility for being incorrect in my speculations on market trend.
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