By Neils Christensen of Kitco News
Friday July 29, 2016
(Kitco News) - The gold market may have unlimited potential as bad news has been unable to drag prices lower, according to some analysts.
The yellow metal is preparing to end Friday in positive territory, ending a two-week losing streak, with prices trading at their highest level since July 12. December Comex gold futures last traded at $1,357.60 an ounce up 2.6% on the week.
At the same time September Comex silver future last traded at $20.350 an ounce, up 4.4% on the week.
The gains come following two major central bank monetary policy decision. Wednesday, gold rallied to session highs despite the Federal Reserve striking an optimistic tone in its monetary policy statement. The committee noted, "Near-term risks to the economic outlook have diminished."
Friday July 29, 2016
(Kitco News) - The gold market may have unlimited potential as bad news has been unable to drag prices lower, according to some analysts.
The yellow metal is preparing to end Friday in positive territory, ending a two-week losing streak, with prices trading at their highest level since July 12. December Comex gold futures last traded at $1,357.60 an ounce up 2.6% on the week.
At the same time September Comex silver future last traded at $20.350 an ounce, up 4.4% on the week.
The gains come following two major central bank monetary policy decision. Wednesday, gold rallied to session highs despite the Federal Reserve striking an optimistic tone in its monetary policy statement. The committee noted, "Near-term risks to the economic outlook have diminished."
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