Auguries—Is There None Such? May 17, 2012 By Kevin Michael Grace
Gold was down (at press time) $20.50 (-1.3%) for the week to $1,574.40, and silver was down $1.04 (-3.6%) to $28.06. Gold gained $38.40 Thursday; the Financial Times attributed this to “heightening expectations of further US monetary stimulus, as weak manufacturing data in the Philadelphia region…took investors by surprise.”
GoldCore reported Thursday that “Gold fought back [Wednesday] after touching its lowest level since December 29, as concerns about Greece’s political instability and possible departure from the Euro prompted investors to buy back into bullion.” Our favourite wire service continues to maintain the exact opposite, of course.