Market Wrap: NatGas Soars To Fresh 6 ½-Month High Amid Brutal Cold; Brent Slips; Gold & Silver Gain
Besides those comments from Bullard, news flow was light this week, in contrast to last week's heavy data flow. However, in China there were a few notable releases.
According to the National Bureau of Statistics, China's trade balance ballooned to $33.8 billion in November, the highest level since 2009. Chinese exports jumped 12.7 percent in the month, while imports grew by 5.3 percent.
Other China data showed that consumer prices in the country grew by 3 percent in November, down from 3.2 percent in October.
Taking a look at currency markets, the U.S. Dollar Index was last trading down by 0.2 percent to 80.15. In bond markets, the U.S. 10-year yield fell by 1 basis point to 2.85 percent.
Gold and silver were up solidly today. The yellow metal was last trading higher by $8.66, or 0.71 percent, to $1,237.71, while the gray metal rose by $0.32, or 1.64 percent, to $19.83.
Platinum jumped $16.60, or 1.22 percent, to $1,375.60 and palladium edged up by $1.10, or 0.15 percent, to $736.10.
"Speculative market participants and traders continue to fret over whether the United States will begin tapering," GoldCore said. However, "[demand] will likely pick up after the recent price falls and ahead of the Chinese New Year."