The prices of gold and precious metals remained strong worldwide through wednesday's morning trading. Gold stayed about $1,580 per ounce, amid surprisingly sharp gains for the American economy. The American economy soared due to the implementation of this week's drastic cuts of fiscal spending by the government.
This had a surprising and sudden impact on the DOW Jones Industrial Average: bringing it to all time record highs wednesday. Typically, a rise in the DOW will trigger a lowering of precious metals values. However, Wall Street' traders remained bullish that world wide banks would continue to have very liberal monetary policy helped the value of gold remain at very strong levels.
Worldwide Gold traders are now eagerly awaiting thursday's meetings by the European Central Bank and the Bank of England, as well as friday's official U.S. jobs data. Until then, experts believe that gold will remain relatively consistent without any significant gains or losses. The value of precious metals awaits the results of these upcoming reports.
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