Daily Gold Update

Source: Dr. Bill Musgrave, American Gold Exchange

Austin— With U.S. and many Asian markets closed for Good Friday, gold remained unchanged at just under $1,295 in London. Stronger U.S. economic data this week led to speculation that the Fed will continue phasing out of monetary stimulus this year as the recovery builds momentum. Quantitative easing, the central; bank's bond-buying program, has helped gold to rise more than 60% in the last five years by devaluing the dollar and increasing the risk of long-term inflation.

Safe-haven demand was further blunted today by a tentative agreement between Russia and Ukraine, helping to diffuse the prospects of military confrontation between the bordering nations.