This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Gold Prices Halt Losing Streak

The Fed's Bullard said he believed quantitative easing would be needed into the second half of 2013 -- a comment that would deflect worries that scaling back of easing would come in the short-term.

"We need powerful and continuing monetary accommodation," Williams said. "Unemployment is far too high and inflation is too low."

Economic news from Europe was relatively calm, though the FTSE 100 in London and the DAX in Frankfurt both posted losses of more than 1% on Thursday. European equity market pressure followed the first trading session since the U.S. Fed revealed increased consideration of scaling back its purchasing of mortgage-backed securities and longer-term Treasuries.

The Bureau of Labor Statistics reported on Thursday that the consumer price index for January remained unchanged from the prior month's flat reading. Economists were expecting inflation to rise 0.1%. The core rate, excluding food and energy, rose 0.3%.

"There's nothing concerning about the inflation picture at this point, and the core number indicates that we're getting further away from that deflationary scare that I think [Ben] Bernanke is still a little bit worried about," said Brad Sorensen, market and sector research director at Charles Schwab. "Prices are moving somewhat higher at the core level, but not at a concerning rate."

Gold is seen by many investors as a key asset to own amid a rise in inflation.

Gold mining stocks were mostly higher on Thursday. Shares of Yamana Gold (AUY - Get Report) were soaring 5.5%, while shares of Agnico-Eagle Mines (AEM - Get Report) was popping 5.3%.

Among volume leaders, Barrick Gold (ABX - Get Report) was ticking up 0.63%.

Gold ETFs SPDR Gold Trust (GLD) and iShares Gold Trust (IAU) were rising 0.92%.

-- Written by Joe Deaux in New York.

>Contact by Email.

2 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
GLD $122.07 -0.11%
IAU $12.34 -0.16%
AEM $44.98 2.69%
ABX $17.87 2.35%
AUY $4.50 6.64%


Chart of I:DJI
DOW 17,660.71 +9.45 0.05%
S&P 500 2,050.63 -0.49 -0.02%
NASDAQ 4,717.0940 -8.5450 -0.18%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs