Uncertainty Grips Gold As Taper Schedule Still Fuzzy

Gold prices will remain listless for the remainder of the year as investors await more visibility on when the U.S. Federal Reserve will start cutting bond purchases, analysts say.

Bullion prices largely defied expectations for a sharp drop following forecast-beating U.S. jobs numbers, which some said may signal an earlier withdrawal of stimulus measures by the Federal Reserve.

The metal traded in a wide range on Friday, dropping sharply to five-month lows after strong U.S. jobs data but ending the day higher on short-covering, Reuters reported. Spot gold rose 0.14 percent to $1,229.90 an ounce at 12.20 pm Singapore time.

via CNBC

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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