Gold News: Certainly on a Downward Trend

Gold News

In the latest gold news: As of June 12 at 6:17am EST, gold continued to rally and was trading at $1269.58 per ounce, down from the price of $1279.97 from approximately this time last week. This marks the first week of declines following over a month of weekly gains.

Gold News

The price of gold was on the rise in anticipation of Thursdays events, the James Comey testimony, the British Elections where Theresa May’s Conservative party ultimately lost seats in the parliament, and the vote with regards to next steps for the Dodd-Frank Act. Following these events eliminating the uncertainty, the market reacted with the price of gold declining.

The price of gold is rallying at the start of the week in anticipation of the Fed meeting and changed expectations for the pattern of rate hikes for the remainder of the year.

In the 14 day gold prediction ending June 7, I Know First’s algorithm based on predictive analytics showed an impressive 100% accuracy rate, as seen in “Gold and Silver Outlook Based on Stock Prediction Algorithm: Returns up to 3.13% in 14 Days.” After two weeks, I Know First’s average percent change came out to 2.89% with both physical silver as the top earner, bringing in an impressive 3.13% return to investors.

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