$NUGT $GLD $JNUG - Gold prices gained nearly 1% to
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Posted On: 01/14/2018 7:56:23 PM
$NUGT $GLD $JNUG - Gold prices gained nearly 1% to cap a fifth consecutive weekly increase and a fresh four-month high, supported by a weaker dollar and potential signs of rising U.S. inflation.
February Comex gold rose $12.40, or 0.9%, to settle at $1,334.90/oz., the highest for a most-active contract since Sept. 11, 2017.
The euro jumped to a three-year high today after German Chancellor Merkel's conservatives and the top opposition party reportedly agreed on a blueprint for formal coalition negotiations, "weakening the U.S. dollar, which is one of the reasons why gold is firmer this morning," says Quantitative Commodity Research's Peter Fertig.
Some analysts have said stronger U.S. economic data could weigh on gold prices if it gives the Fed a freer hand to raise interest rates more aggressively than expected, but Logic Advisors co-founder Bill O’Neill says today’s data should not change expectations for the Fed's plans.
Also, March silver gained 1% to $17.14/oz., March copper slipped 0.5% to $3.219/lb., palladium jumped 2.7% to a record settlement of $1,105.35/oz., and platinum added 0.6% to $996.20/oz.
February Comex gold rose $12.40, or 0.9%, to settle at $1,334.90/oz., the highest for a most-active contract since Sept. 11, 2017.
The euro jumped to a three-year high today after German Chancellor Merkel's conservatives and the top opposition party reportedly agreed on a blueprint for formal coalition negotiations, "weakening the U.S. dollar, which is one of the reasons why gold is firmer this morning," says Quantitative Commodity Research's Peter Fertig.
Some analysts have said stronger U.S. economic data could weigh on gold prices if it gives the Fed a freer hand to raise interest rates more aggressively than expected, but Logic Advisors co-founder Bill O’Neill says today’s data should not change expectations for the Fed's plans.
Also, March silver gained 1% to $17.14/oz., March copper slipped 0.5% to $3.219/lb., palladium jumped 2.7% to a record settlement of $1,105.35/oz., and platinum added 0.6% to $996.20/oz.
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