A softer US dollar helped push higher the price of gold, but all eyes will be on the two major economic releases - today's consumer confidence and Fridays non-farm payroll figures. The price continues to trade in and around the $1,100 level, but this week may well provide prove to be a watershed for future direction.

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Gold & Silver

Commodity

Level

Change

GOLD

$1,111.70

+$2.07

SILVER

$17.43

+$0.08

Market News

  • The Greek government announced the sale of a 5 billion EUR seven year bond with a 5.9% coupon, a yield twice that of what Germany pays
  • German inflation data came in surprisingly strong, alerting economists to the notion of spiralling inflationary concerns
  • Economic confidence within the Eurozone is at 22 month highs
  • Consumer spending in the US rose for a fifth straight month, which will further the cause of those who see rates rising in the US sooner rather than later

Major Economic News

TIME

MARKET DATA

1400

US CONSUMER CONFIDENCE