Gold News: Up as Republican-Backed Healthcare Reform Goes Down

Gold News

In the latest gold news: As of March 27 at 8:30am EST, gold was up to trading at $1258.07, continuing the recent upward trend in the price of the bullion. At approximately this time last Monday, the bullion was trading at $1232.41 per ounce. Monday morning’s price shows the second consecutive week of gold’s price increasing following three successive weeks of declines for the bullion.

Gold News

This past Friday, the Republican party failed to repeal the Affordable Care Act and replace it with another alternative healthcare plan. This led to more uneasiness about the current presidential administration and state of affairs, leading them to safe-haven gold.

Another factor that has continually boosted the price of gold is the weak dollar which is currently valued near its 4-month low. This drove both US stock index futures and European indices down, another factor that sent investors running towards investing in the bullion.

In the 3-day long gold prediction ending March 20th, I Know First’s algorithm showed an impressive 66.66% accuracy rate, as seen in “Gold Forecast Based on Genetic Algorithms: Almost 1% Return in 3 Days”. After 3 days, I Know First’s average percent change came out to 0.24% with both GLD and XAU as the top earners each bringing in an impressive 0.67% return to investors.

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