Gold News: Gold, The Ups and Downs
In the latest gold news: As of April 10 at 8:30 am EST, gold was up to trading at $1248.29 up ever so slightly from the$1246.79 that the bullion was trading for at approximately this time last week. The bullion experienced a significant amount of volatility this week before being up overall since I Know First’s last gold news report.
Wednesday showed better than anticipated US job data and the release of the minutes from the Fed’s March meeting. The minutes show that certain Fed officials believe that the economy is in such a place where now is the time to begin to trim the $4.5 trillion US balance sheet. This optimistic outlook sent the dollar up and safe havens such as the bullion down.
The turnaround in the week came about for geopolitical tensions specifically the US air strike on a Syrian base that took place last week, are impacting the bullion and sending investors towards the safe haven.
In the 14-day gold prediction ending April 5th, I Know First’s algorithm showed an impressive 100% accuracy rate, as seen in “Gold Expectation Based on Deep Learning: Returns up to 0.91% in 14 Days”. After 2 weeks, I Know First’s average percent change came out to 0.91% with both GLD and XAU as the top earners each bringing in an impressive 0.91% return to investors.