Gold News: Prospects Looking Golden

Gold News

In the latest gold news: As of August 22, 2016 at 6:39AM EST, gold was selling at $1335.30 per ounce, a slight decrease from the $1339.74 per ounce that gold was selling for around this time last week.

Gold News

The Fed held their July meeting last week. Several members of the Fed expressed their concerns over raising interest rates due to slow future-hiring. Gold prices rose following the meeting because for the time-being interest rates are remaining the same and are unlikely to be raised soon.

UAE imported the most gold from Peru in the first half of 2016, bringing 7 metric tons of the precious metal into the UAE. The value of the gold is $233 million, an increase of 155-times compared to the first half of 2015. Peru is the sixth largest gold exporter in the world, with gold serving as one its chief exports, coming in only behind copper.

On May 20th, I Know First’s algorithm accurately predicted that gold and silver prices would increase and stocks would have positive returns as seen in “Gold Price Forecast based on Machine Learning: Silver Returns 17.10%” I Know First’s average percent change came out to an impressive 10.21%.

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