Gold Rises on Fed Speculation

Gold traded near the highest in almost two months in New York as investors weighed more physical buying against prospects for less U.S. stimulus. Silver headed for the best week since 2011 after entering a bull market.
Bullion is set for the biggest weekly gain in five even as signs the U.S. economy is improving fueled speculation the Federal Reserve will start reducing stimulus. Silver futures rallied more than 20 percent since June 27 through yesterday’s close, the common definition of a bull market.

XAU/USD Daily Forex Graph for August 16, 2013

Via Bloomberg

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza