http://www.kitco.com/news/2015-01-05/Barclays-Gold-To-Come-Under-Significant-Pressure-In-2015.html?utm_campaign=Kitco_Media_Newsletter&utm_source=hs_email&utm_medium=email&utm_content=15529588&_hsenc=p2ANqtz--E-ZAd12IwnA28WgdOosu5HuAMJ0StUvZUzu3JtH5sPG2n8oTBEYa7P5-A2qBWTOhzEEhcjjAtK4dlidJLhYj6hPsdlxM0UXfWqj28T2DLI_t5wrc&_hsmi=15529588kitco news:
It’s a new year and a fresh start for commodity markets. Who knows what 2015 will have in store for the market? We are ready and very excited to take the ride with you and bring you the most current and relative news on the markets.
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One thing we do know is gold prices have started off the year on a positive note, up more than 2% in the year’s first full week of trading. This despite tailwind factors including the strong U.S. dollar and lower crude oil prices, which many analysts anticipated would hurt commodities across the board.
Gold prices were modestly higher in early U.S. trading Friday. Today’s job numbers, considered the most important U.S. economic data point of the month, came in close to market expectations and had just a slight bullish impact on gold prices. Kitco News’ technical analyst Jim Wyckoff noted, “[N]on-farm payrolls number of the December employment report was up 252,000. The marketplace expected non-farm jobs to have risen by 240,000 workers. Gold prices up-ticked just modestly, likely due to concerns the non-farm jobs number would be much higher, following last month’s reading that was above 300,000.” As of newsletter time, spot gold on Kitco.com was last up $10.70 at $1,219.60 an ounce.
As part of this week’s editor’s picks, we have brought you a focus piece examining gold priced in euro terms. The metal has made significant gains against the euro in what is seen as a safe haven play. This past Monday, gold priced in euros soared through technical resistance at €1,000 an ounce and is currently holding on to those gains..
We hope you enjoy our first newsletter of the New Year. We wish you all the best for 2015.
