Gold

It was a choppy end to 2013 as metals saw a broad based decline over the year of 28%. Precious metals have succumbed to selling pressure as Exchange Traded Funds (ETF) holders liquidated in favour of equities.  ETF holdings have fallen back to levels last seen in 2008 before the global crisis. Investors lost faith in the metal as a store of value as equities rallied and an economic recovery prompted the Federal Reserve to pare its $85 billion in monthly bond. Gold fell to a year low of $1182, before recovering slightly to traded and close the year at $1202.

640 Host, 640 Host, Jasmine Bowen discusses Greece receiving EU bailout. EAU trading Oil for Gold & Diversification in your Investment Portfolio. Winner of a Silver 1 oz Maple Leaf Coins goes to Grant, for the top question regarding Gold and Silver Precious Metals in your investment portfolio.

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Precious metals gained on renewed hopes of a Greece resolution as Greece's lenders have decided on new ways to reduce its massive debt.

Spot gold traded sharply higher testing fresh 6 month highs of $1787.60 as the buying has been spurred on by the monetary stimulus from Central banks.

With a lack of fresh new U.S data released traders continued to ride the monetary stimulus train as four major central banks, the European Central Bank, the US Federal Reserve, the People's Bank of China and the Bank of Japan all announce stimulus measures in the past few weeks. This could have inflationary implications, which would benefit gold because it acts as an inflation hedge.

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The price charts for gold [GCCV1  1768.00     -1.30  (-0.07%)] are approaching a “golden cross” — in which the 50-day moving average surpasses its 200-day moving average — suggesting the start of a bull market, but is it a buy?

Joe Terranova of Virtus Investment Partners said yes Wednesday on CNBC’s “Fast Money.”

Precious metals traded higher ahead of the Federal Open Market Committee (FOMC) meeting slated for September 12-13 and taking currency cues with the Euro pushing to 1.2871.

It was a relatively quiet day on the metals markets as spot gold traded in a narrow range with a  slight bias to the upside. The major focus is on the FOMC meeting slated for September 12-13. The yellow metal moved higher in early trade to $1738 as the Euro strengthened vs. the green back.

Spot gold was looking like it could breach $1530, but a late day turn around saw buyers push the metal back above $1560.

Spain was the major focus as both Italian and Spanish bonds slumped on Wednesday amid growing fears over the cost of propping up Spain's fragile banking sector. The euro/usd pair has not found any type of floor as the single currency plummeted to below 1.2400 for the first time in almost 2 years. Spain’s ailing banking sector and soaring borrowing costs has investors nervous and jittery.

Volatility remains high as spot gold saw wild swings from positive to negative. The metal rallied to $1671, before turning; as US ISM data was positive; lower to $1660.

On the final trading day of April we saw volatility. Spot gold retreated to $1645, only to bounce back to trade above key support at $1650.

Spot gold started the week off firm before mixed US data and a softer Euro took the metal off of its highs at $1665. The metal recovered by late afternoon to trade above $1650. It was mostly thin volumes as China and Japan are out due to holidays. The euro slipped to 1.3205 on further uncertainty in the eurozone as Spain has fallen back into recession.

The reoccurring theme of lackluster U.S data emerged once again.  Spot gold rallied to new 2 week highs of $1668 on the heels of this poor data.