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Hello my name is Chuck Dougherty and this is the Spot Gold Prices Daily Wrap-up.
The Spot Gold prices for Wednesday the 19th of February saw Gold prices opening at around
$1,314.70.
The day started out better for gold Wednesday climbing from the start up to the high of
around $1,321.20. But that didn't last long once the FOMC meeting minutes were released
giving everyone cause to believe that it would take something significate to happen in our
economic recovery for them to ease off the gas on the taper. This helped to boost the
dollar index and also helped to push gold down to the low of around $1,309.00.
Whether their tone is purposely hawkish in an attempt to keep confidence up or not is
hard to say yet. Without knowing how much the weather really did skew all of the economic
data numbers recently, we won't know until probably April whether the recovery is slowing
or not. If the data for April is weak all of the weather excuses go out the door and
then we'll find out if the FOMC sticks to their tough stance or not. All of this uncertainty
should be good for gold bull's in helping to at the very least hold prices higher than
the lows we saw last year.
We ended the day at around $1,311.50 which resulted in the third straight loss in the
price of gold of around $3.20 this time.
Thank you for watching this is Chuck Dougherty and this was the Spot Gold Prices Daily Wrap-up
for February 19th, 2014.
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See you in the next Gold prices episode! Until then, take care.