Gold prices stagnant, investors look to end of QE3 – BULLION MORNING | SILVER SHORTAGE

Monday, October 27, 2014

Gold prices stagnant, investors look to end of QE3 – BULLION MORNING

Gold prices remained stagnant in early morning trading on Monday in London, with the focus now shifting to the FOMC meeting this week, which is widely tipped to signal the end of the US’ third quantitative easing programme (QE3).

The spot gold price last traded at $1,230.50/1,231.20 per ounce, unchanged on Friday’s close and locked within a tight $4 range.

Focus now turns to what many believe to be the end of QE3, which has buoyed the US economy for the last 27 months, although it is unlikely to have a marked effect on prices, any changes to forward rate guidance would affect precious metals down the line.

“Our economists expect the Fed to end QE3. Although it is widely anticipated, we believe the floor for gold has firmed in the short term, as physical buying has gained momentum and net speculative positioning has risen due to fresh longs and short covering,” Barclays Capital said in a note.

With the near-term outlook on gold improving, net long fund positions in the metal have climbed for the fourth consecutive week, with jumping 22,569 contracts to 107,984 contracts.http://www.bulliondesk.com/gold-news/bullion-morning-gold-prices-stagnant-investors-look-to-end-qe3-84021/

MAKE SURE YOU GET PHYSICAL SILVER IN YOUR OWN POSSESSION. Don't Buy SLV, or Futures or Pooled Accounts or any other BS paper silver product .Remember anything on paper is worth the paper it is written on. Go Long Stay long the bull market have even started yet

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