Gold prices continued to trade Thursday in a limited range, where it has remained since Fed members somewhat unexpectedly announced last week mixed sentiment as to the early expiration of its monetary stimulus.
Though U.S. import and export prices expected to print Friday could give investors a better gauge of the inflation environment, there aren't many events that could drive gold in the near-term from its current range.
"At this point, until you see gold making a decision, which is really the
$1,800 level and the
$1,500 level, it's in no-man's land," said Jacobs. "The smart investors are the ones who try to short when it reaches closer to $1,800, and try to buy when it goes toward $1,500."
Gold-mining stocks were mostly higher on Thursday. Shares of
(AUY - Get Report) added 5.9%, and shares of
(EGO - Get Report) tacked on 4.2%.
Among volume leaders,
was up 1.8%, while
(GG - Get Report)
SPDR Gold Trust
iShares Gold Trust
rose 0.9% .
-- Written by Joe Deaux in New York.