Daily Gold Update

Source: Dr. Bill Musgrave, American Gold Exchange

Austin— Gold dipped 0.3% to post a slight weekly loss of 0.2% as upbeat trade data in three of the world's largest economies spurred risk appetite and pulled money from safe havens. The U.S. trade deficit shrank in December to its smallest in almost three years behind rising exports and lower fuel imports. Germany's exports also rose in December, finishing the year at a record-high near $1.5 trillion despite weakened demand in the eurozone. And China's trade expanded more than forecast while credit rose to a record in January, indicating a recovery that remains on track. Global equities rose on the positive data while precious metals were mixed. Silver and palladium both ticked up 0.1% for the day but lost 1.6% and 0.7% for the week, respectively. Platinum dropped lost 0.4% for the day but closed the week with a 1.6% gain because of concerns about production losses in South Africa.

At the Comex close: April gold dipped $4.40 to $1,666.90; March silver added 4 cents, to $31.44; April platinum lost $7.60 to $1,714.70; and March palladium gained $1.05 to $751.50 an ounce.