Gold and silver spot values are continuing to trend downward on the final day of what has been an interesting week. Investors are all over the place with regard to their speculation about the current state of the US economy. Though there was not very much economic data made public this week, what data was made public had a fairly large impact on the precious metals market.

As we head into the weekend, investors will once again fixate their attention on the situation in Ukraine as it continues to inch along. This week did not play host to many new developments in Ukraine, but tensions throughout the region remain extremely high regardless. Last Sunday, pro-Russian rebels hosted a referendum vote which, in essence, decided the fate of the Donetsk region of Ukraine. According to early reports, more than 90% of those who voted chose that Donetsk should be independent. Having said this, however, there are widespread allegations claiming that the referendum vote was a hoax and that the numbers published do not actually reflect the way in which citizens voted. For this reason and many more, the crisis in Ukraine will continue to be closely watched by investors the world over.

Rallying Treasury Bonds Confuse Investors

Despite current economic conditions making it seem like a T-note and bond rally would be the last thing that would happen, that is exactly what has been happening over the last few days. As it stands, T-bond and T-note futures prices are trading at their highest points in months while yields are at their lowest points in months. In addition to this, US equity markets have been gaining momentum through the latter parts of the week as well.

In general, investors are unsure as to what direction the US economy is going to head and this uncertainty very well might end up driving spot values forward. On the other hand, however, if the US economy is improving like many people think it is, gold and silver spot values may decline even further than they have already. As it stands, spot gold is hovering below the $1,300 threshold while silver is slowly but surely heading towards $19/ounce. When it comes to week on week gains or losses, both metals have more or less held a steady position.

Gold and silver were trading up to begin the day but have since conceded those gains and are trading slightly lower. There are very few pieces of economic data on the slate today, something that is not hurting precious metals but definitely not helping them either. The crisis in Ukraine will more than likely absorb the marketplace for the next few days as a referendum that will decide the fate of another part of eastern Ukraine is scheduled to take place on Sunday.

It is more than likely that the only talk circulating around on Monday will be with regard to what happened in Ukraine over the weekend. Safe-haven demand was initially driving spot values forward today, but it has since faded into the background and is being overridden by more technical selling pressure.

Crisis In Ukraine Completely Envelops The Marketplace

Though a number of geopolitical and economic events have taken over the marketplace’s attention this week, those will more than likely fade into the background over the weekend. Violence between the Ukrainian military and pro-Russian rebels has been raging all week and has accounted for dozens of deaths. Vladimir Putin, earlier this week, made remarks claiming that he is willing to pursue peaceful means to resolve the crisis in Ukraine. What’s more, Putin went on to call upon pro-Russian rebels to refrain from holding the referendum, which is scheduled for this Sunday.

If the referendum does, in fact, take place, it is more than likely that another large portion of eastern Ukraine will be handed back over to Russia. Safe-haven demand is most definitely still a factor for investors, but it is currently being overshadowed by technical selling pressure. As it stands, gold is sitting more than $10 below the $1,300 threshold while silver is still sitting well below the $20/ounce.

Also catching the attention of investors this week was Janet Yellen’s addresses to Congress on both Wednesday and Thursday. In her remarks Ms. Yellen made it clear that she is feeling positive about the US economy and that interest rates will more than likely remain at current levels for the foreseeable future. This was good news for investors who were under the impression that interest rates were going to be risen as early as next Spring.

Despite a host of factors working against gold and silver over the last few days, both metals are trading sharply higher as of midday on Friday. This week brought with it an absurd amount of economic data, most of which was from the United States and was better than market expectations. There were a few pieces of world economic data due out this week, but this had much less of an impact on the precious metals market.

The situation in Ukraine was mostly out of the news this week but is still feeling tensions rise as the days pass. Though violence did not necessarily get any worse this week, things throughout Ukraine’s eastern half have not gotten any better. Currently, many fear that the crisis in Ukraine will deteriorate further before we see it get any better. The US and Russia, the two entities that are supposed to be solving this mess, are doing nothing apart from butting heads and spinning their respective wheels.

This Week’s Economic Data Encourages US Investors Somewhat

Investors were excited for this particular 5-day trading session for the sole fact that it was set to yield more economic data than the previous three weeks combined. Kicking off the data this week was the United States’ first quarter GDP report. Though there were expectations of a rise in annual GDP of more than 1%, the data showed that annual first quarter GDP only improved by about .1%. Normally this type of news would give gold and silver a boost, but such was not the case as a majority of the investing world held their positions until the conclusion of the FOMC meeting, which happened on Wednesday afternoon.

When the FOMC had wrapped up their meeting it was made public that they had decided to reduce Quantitative Easing by another $10 billion. What’s more, the Fed went on to reiterate that they are collectively fully confident in the strength and trajectory of the US economy. This confidence comes only days after reports were published saying that the Chinese economy will overtake the US’ by the end of the this year.

Finally, the week was brought to an end from an economic data standpoint this morning as the latest US Labor Department employment figures were made public. Despite market expectations of a rise in non-farm payrolls of 200,000-215,000, the actual figures showed that non-farm payrolls grew by more than 280,000. The US Dollar took a big hit after the data was made public and that, along with safe-haven demand, is really helping precious metals close out the week on a positive note. As it stands, gold is just barely back above the $1,300 threshold while silver is still trying to work its way back to $20/ounce.

Gold and silver are trading higher today, but are currently lower than mid-morning highs which saw spot gold up nearly $20 while spot silver was up more than 20 cents. Despite gains diminishing a bit, both gold and silver are still in upbeat positions. A risk-averse attitude is slowly but surely emerging among investors who are growing increasingly concerned about the intensifying tensions in Ukraine.

Despite this week yielding very little in the way of US economic data, there was plenty of economic news from elsewhere in the world to talk about. Earlier in the week the marketplace was dealt another disappointing report with regard to China’s manufacturing sector, of which has been seen slowing down and even stagnating over the last few months. April’s manufacturing PMI reading did little in the way of disproving the growing sentiment that the Chinese economy is struggling more and more as the months progress. The Chinese central bank did employ some modest stimulus measures earlier this week, but these moves were made mostly to address issues withing the agricultural sector of the economy. The EU’s PMI reading for April was also due out earlier in the week, but, unlike China, the EU’s PMI improved from March to April. The EU economy has been performing well as of late and is making it very clear that the financial crises of last year are slowly but surely fading to the background.

Ukraine, Russia Continue Tense Standoff

The crisis in Ukraine has been in and out of the news over the course of the past few months, at times catching the market’s full attention while at other times failing to move the market at all. These past two weeks have yielded stories that are causing investors to perk up and pay attention. Armed pro-Russia militiamen have been taking over towns across Ukraine eastern half and are further intensifying the unrest in the country.

Earlier in the week, the Ukrainian military met these Russian rebels with force in an attempt to oust them from the many towns and buildings which they have seized control of. The military was succeeding to some extent but was only working to make the entire crisis significantly more violent than it had been before. After hearing of the deaths of a few of the pro-Russia militiamen Russian officials have warned that any further attacks on Russians in Ukraine will be considered the same as an attack on Russia itself. This threat alone was enough for Ukraine’s interim government to tell the military to cease any and all operations against rebel forces. As we head into the weekend investors are increasingly uncertain as to what direction the crisis in Ukraine will head in. There is a large fear that an increased Russian military presence along its border with Ukraine will soon be more than just a symbolic threat and that widespread violence may be inevitable. This uncertainty is helping drive safe-haven demand which is, in turn, boost spot gold and silver. There is no saying whether or not safe-haven demand alone will be enough to keep spot values propped up, but as of now safe-haven demand is about the only bullish factor working in precious metals’ favor.

Gold and silver are trading slightly lower on Friday but will be happy about their positions to end the week. As opposed to the last few 5-day trading sessions, gold and silver were able to post gains and end the weekend above key resistance levels. Currently, gold is above the $1,300 threshold while silver is sitting just barely over $20/ounce.

There was a decent bit of economic data due out this week, but none was more highly anticipated than the midweek release of the latest FOMC minutes from the March policy meeting. After recent remarks from senior members of the Fed caused investors to believe that interest rates would be risen as early as this time next year, many hoped the minutes would be able to clear matters up. Unfortunately, however, the minutes offered very little in the way of reliable insight into just when the Fed will raise interest rates. As it stands currently, investors are a bit calmer and are of the general opinion that it will be more than a year before interest rates are boosted.

Chinese Exports Data Disappoints For A Second Consecutive Month

After taking into consideration just how poorly the Chinese economy has been performing as of late, it really shouldn’t come as much of a surprise that exports were on the decline in March for a second consecutive month. Officially, exports from China to other nations have fallen by nearly 7% in March, adding to a decline of nearly 20% in February.

The downbeat Chinese exports data only works to add to the growing belief that the Chinese central bank will pursue some sort of monetary stimulus measures in order to combat such weak economic performance. When speaking to media this week, senior Chinese officials made it clear that while they will consider stimulus if matters call for it, but are not going to be rushed into taking any action. The Chinese economy is of vital importance to precious metals investors because China is the largest consumer of precious metals on an annual basis.

Investors are also beginning to pay more attention to the crisis in Ukraine. There have been a number of pro-Russian demonstrations over the last week or so which is only working to increase the divide among the various ethnic backgrounds that populate Ukraine. There has not been too much violence as a result of these demonstrations, but as is always the case with the crisis in Ukraine that stands the possibility of changing in the blink of an eye.

For the first time in nearly two whole weeks, spot gold and silver are trading sharply higher. Despite a bearish market being a mainstay for gold and silver over the past 8 or more trading sessions, Friday’s weaker than anticipated US jobs data for March flipped the script for metals. While this is the most important piece of economic data to talk about this week, it is far from the only economic report released this week.

Deflation concerns are still hovering around Europe, boosted by a falling producer price index, which was reported earlier this week. The European Central Bank held their monthly policy meeting a day ago, but it ended up having little to no impact on the market. As it stands, gold is sitting just below the key $1,300 threshold while silver is just barely keeping its head above the $20 level.

Full Week of Economic Data To Reflect Upon

This 5-day trading session was in stark contrast to last week’s, which was unusually subdued due to a lack of any major economic or geopolitical inputs. Right out of the gate on Monday investors were greeted with a number of US economic reports, most of which ended up having marginal impact on precious metals values. If anything, the early week reports made public in the United States worked against spot gold and silver.

Instead of focusing too readily on the reports released earlier in the week, investors chose instead to hold their positions until the non-farm payrolls data for March was made public; an event that happened just barely an hour ago. Officially, 192,000 non-farm payrolls were added to the US economy last month. This is a healthy number for monthly job growth, but also one that falls below market expectations which were in the neighborhood of 200,000. Realistically, the market was actually expecting to see monthly job growth beat the 200,000 mark handily due to the fact that tow high-ranking members of the Federal Reserve very recently expressed their optimism towards the US economy’s strength and the pending upswings in job growth. The weaker than anticipated job growth ended up helping gold and silver make some decent gains.

Though both gold and silver are far from the high points they realized little more than a week ago, it is encouraging to see both metals end the week trending upward. Hopefully ,as investors further digest this week’s economic data, the interest in gold and silver will continue to improve.

Gold and silver have taken part in a lot of price movement over this 5-day trading session, but almost all of it has been downward. A lack of any new bullish data is making it difficult for gold and silver to make gains and as the tensions in Ukraine continue to calm down, safe-haven demand has made its way out of the market. Not only that, but what few inputs we did receive this week have been bearish to say the least.

As it stands, gold has fallen below the $1,300 threshold and silver is sitting nearly 20 cents below the $20 mark. By the numbers, gold has lost roughly $100/ounce in a little more than a week’s time while silver has lost more than a whole dollar.

Bears Take Control of the Market

Last week, newly appointed Federal Reserve chairperson Janet Yellen alluded that Quantitative Easing would, in fact, be done away with by the end of the year. This news was not a big surprise to investors who have been speculating as such for a while now. What was surprising, however, was that Ms. Yellen also stated that interest rates in the United States may be risen as early as next spring. This news fueled more interest in US equities while simultaneously putting downward pressure on precious metals.

James Bullard, president of the St. Louis Federal Reserve bank, echoed Janet Yellen’s comments this week when he said that the US economy is improving and that he expects the overall unemployment rate to fall below 6% by year’s end. If this is the case, it will make the ending of QE by next year an even more likely possibility.

There were some pieces of economic news released earlier in the week, but it had a marginal impact on precious metals. If anything, the housing data released during the first half of the week worked against precious metals and made it seem as though the US economy is, in fact, stronger than what most recent economic data suggests.

The situation in Ukraine continues to sit comfortably on the back burner but the United States is leading the charge in attempting to isolate Russia from the rest of the world. As they convince more European nations to isolate Russia as well, we will have to just wait and see if anything comes of the now much calmer situation.

Gold and silver spot values are trading a bit higher on Friday, but are on course to end this week having posted their most significant weekly losses thus far this year. After last weekend’s referendum in Crimea failed to spill over into violence, the marketplace almost immediately lost interest. This sounds a bit morbid, but could not be any truer. By the time markets opened on Monday, the spot values of both gold and silver were already trading down thanks to a lack of safe-haven demand for metals.

As interest in Crimea began to dwindle, investor interest in this week’s FOMC meeting began to perk up. Despite nothing too out of the ordinary expected to happen as a result of the latest FOMC meeting, the market was intrigued nonetheless.

Crimea Shifts Quickly To The Back Burner

Rewind to a week ago and the entire investing world was very much concerned with the pending referendum in Crimea. Scheduled for last Sunday, the referendum was the deciding factor for whether or not Crimea would remain part of Ukraine. As expected, an overwhelming majority of the citizens of Crimea, like their parliament, voted in favor of rejoining the Russian Federation. This was big news, but was not very shocking as Crimea is dominated by ethnic-Russians. What was shocking, however, was the lack of violence that came as a result of the referendum.

Most people were expecting some sort of large-scale violence to break out along the Russian-Ukrainian border and that simply did not happen. After the market came to the realization that no violence would come as an immediate result of the referendum, safe-haven demand for gold and silver dropped off almost completely. As it stands, the crisis in Crimea is still very much on the back burner and is not so much a pivotal factor in the decision making of investors.

FOMC Tapers QE Again

As is always the case, the market quickly became preoccupied with the possible outcomes of this week’s FOMC policy meeting. As expected, the FOMC decided to taper monthly bond purchases by another $10 billion, bringing QE down to $55 billion/month.

While the $10 billion tapering decision was nothing too surprising, what newly appointed chairperson of the Federal Reserve had to say in her post-meeting press conference caught some off guard. In her comments to the press, Janet Yellen said that interest rates in the US may be risen as early as this time next year. This caught investors by surprise due to the fact that tapering is only expected to finish up at the beginning of next year. Interest rates rising so dramatically in the immediate aftermath of the absence of tapering is something investors now have to prepare themselves for.

In the wake of this week’s Fed activity, the US Dollar was given a significant boost.

Gold and silver opened up trading in positive fashion for the third consecutive day on Friday. For the week, spot gold is up well over $40/ounce while silver is on its way to improving by a whole dollar for the week. The reason for gold and silver’s upward trend this week? Look no further than safe-haven demand stemming from worries with regard to the Chinese economy as well as tensions throughout the Crimea region of Ukraine.

Next week’s FOMC meeting is already beginning to spark speculation, though most of the market agrees that the Fed will taper, but only by the $10 billion we have grown accustomed to thus far in 2014.

Tensions In Crimea Steadily Increasing, Referendum Sunday

Last week, the crisis in Ukraine shifted to the back burner of the market’s attention as it seemed political leaders were on the verge of ending the turmoil through diplomatic means. Over the weekend, however, eyewitness and video reports showed the world of an increasing pro-Russia military presence in the region. Caravans of unmarked armored vehicles, most of which were manned by masked men, made their way through Crimea and occupied all sorts of buildings and compounds along the way.

The increased pro-Russia military presence happening only a week before an all-important referendum that is supposed to decide the fate of Crimea has only worked to unnerve the world. The investor response from what has developed in Ukraine this week is one of risk-aversion. Many investors were seen trading in riskier assets and instead placing their money in safe-haven gold and silver as it is usually a great resource in times of civil unrest.

As we head into the weekend the real important date is this Sunday, when the referendum is scheduled to happen  If Crimean citizens do vote to rejoin the Russian Federation, there is no saying what the outcome of that decision will be, but it is looking more and more like military action will be pursued.

In other news, the upcoming FOMC meeting will be of particular importance to investors as well. It is expected that the Fed will continue with their reduction of monthly bond-buying, but there is a bit of a difference of opinion with regard to how much the Fed is going to reduced Quantitative Easing. A strong contingent believes that the FOMC will continue along with another $10 billion reduction to QE, though others think that the reduction may be even more significant. Though it is unclear what kind of decision will come as a result of the FOMC’s meeting next week, we do know that the meeting will be watched carefully by investors from around the world.

After beginning the day in somewhat positive fashion and looking like they were going to end with weekly gains, precious metals have since declined in value thanks to an upbeat employment report for February. In addition to today’s upbeat employment data, the Labor Department also revised previous month’s reports which showed larger increases in added jobs than previously thought.

The situation in Ukraine has taken a number of twists and turns this week but has, for the most part, calmed down a bit. Tensions in the region are on the decline, but the world continues to keep a keen eye on matters there as they stand the chance of boiling over at any given time.

US Jobs Data Slightly Bests Market Expectations

As is always the case, the non-farm payrolls data was the most highly anticipated piece of news released this week. With the first few months of 2014 yielding significant sub-standard numbers, some investors were hoping that February’s numbers, released today, would paint a bit of a different picture. February’s non-farm payrolls data did exactly that when it beat market expectations of 150,000 jobs added by a cool 25,000. This is not an astoundingly good report, but it is the first in a few months that came back better than what was expected.

In addition to today’s positive employment data, the Labor Department also revised December (2013) and January’s payrolls data as well. Originally coming in at 113,000 new jobs added, December’s data was revised to show that nearly 130,000 jobs were actually added. January’s incredibly weak payroll addition of 75,000 was bumped up to well over 80,000.

As you might have expected, today’s data as well as the revisions helped give US equities a boost while simultaneously putting pressure on spot gold and silver.

As we head into next week all eyes will remain fixated on the crisis in Ukraine. When this week began, there were reports flying around claiming that Russian troops had seized border posts in Crimea and were threatening military strikes against Ukrainian soldiers in the Crimea region. While things quickly deescalated from that point forward, later in the week it was reported that the parliament of Crimea voted unanimously to join the Russian Federation. Despite opposition from Ukraine’s interim government and the United States, the Russians refuse to concede ground. Instead, Crimean citizens will be allowed to vote on the matter in about 9 days. The voting is more symbolic than anything as Crimea is dominated by ethnic Russians who seem eager to leave Ukraine behind.

As we move into next week the eyes of the world will continue to remain fixated on Ukraine and all developments stemming from the region.