GOLD PRICE NEWS - The gold price has closed within the narrow $25 band of $1,090 to $1,115 over the past eight trading days. Gold price volatility, as measured by the CBOE Volatility Index, has fallen 12.5% over the past two weeks as both stock and commodity markets have recovered their early February losses. The prices of gold mining stocks, after rallying over 10% in the first two weeks of the month as measured by the Market Vectors Gold Mining ETF (GDX), have settled into a narrow trading range.
Whether the breakout in the price of gold is to the upside or to the downside could be driven by the perception of investors as to the speed at which crisis-driven monetary policy is unwound. There has been some level of confusion with respect to global monetary policy, specifically the question of if central banks have begun to shift away from the ultra-easy stance that has been in place over the past eighteen months......more detail
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