Gold News: Pushes Upward on Tension and Anticipation

Gold News

In the latest gold news: As of May 29 at 8:25m EST, gold continued to rally and was trading at $1266.88 per ounce, up from the price of $1258.77 from approximately this time last week. This marks the third consecutive week of gains after close to a month of losses for the bullion.

Gold News


Geopolitical uncertainty once again led investors towards the safe haven favorite, gold. This time the uncertainty is surrounding President Trump’s negotiations at the G7 summit including his backing a plan to fight protectionism. Prices are also rising in anticipation of the next FOMC meeting. The FOMC will meet shortly is expected to raise interest rates, which will in turn send gold down.

Many traders  will be away from their desks on May 29 in commemoration of Memorial Day.

In the week-long gold prediction ending May 26th, I Know First’s algorithm based on predictive analytics showed an impressive 100% accuracy rate, as seen in “Gold Outlook Based on Prediction Algorithm: Returns up to 1.46% in 7 Days”. After seven days, I Know First’s average percent change came out to 1.46% with both XAU and GLD as the top earners, each bringing in an impressive 1.46% return to investors.

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