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Gold continued its rally Tuesday, hitting a three-week high as investors speculated on the Federal Reserve’s next move. The Fed concludes its two-day monetary policy meeting on Wednesday. “The last several days have given investors fresh reasons to buy gold,” writes the Wall Street Journal. Spot gold rose 0.9% to $1,213.90/oz. on the COMEX, the highest price

COMEX gold rose 2.4% on Monday to $1,203.20/oz., its biggest gain in over three months. What is believed to be one of the drivers of the rally is rather intriguing. In a deal with Citibank, the central bank of Venezuela has swapped a portion of its gold reserves for over $1 billion in cash, Reuters reported

China and Russia, two of the world’s top gold-holding countries, are buying even more gold. China in particular is stepping up its gold game. As of March 2015, China has the sixth largest gold reserves in the world at 1,054.1 tonnes. Russia ranks fifth with 1,207.7 tonnes. See the full top 10 in our infographic: Which Countries Hold the

“The Wall Street Bull” by herval via Flickr, used under a Creative Commons license Bank of America Merrill Lynch (BofAML) analysts believe the worst may be over for gold. According to a recent report, they see gold reaching $1,500/oz. by 2017. At the same time, a global BofAML survey revealed concerns of overvaluation in the equity and bond markets. A press

Gold closed Monday at a seven-week high of $1,218.60/oz., a 1.5% gain, after more disappointing jobs data eased gold investors’ worries over the Fed raising interest rates. The U.S. employment data, which was released on Friday, showed far fewer jobs were produced in March than expected. In addition, the Institute for Supply Management on Monday reported its non-manufacturing index

Gold made its biggest jump in two months on Wednesday, rising back above $1,200 to end the day at $1,204.10/oz. Data from the ADP Research Institute showed that U.S. companies added 189,000 workers in March, the smallest gain since January 2014. Economists surveyed by Bloomberg were expecting the number to be around 225,000. The disappointing figures fed speculation that the

The U.S. stock market suffered its third straight day of losses on Wednesday and the dollar slipped after disappointing government data had investors worried about economic growth. The Nasdaq was the biggest loser, falling more than 2% after news of a merger between Kraft Foods and Heinz Co. triggered a sell off. The Dow lost 292.6 points, or 1.62%; the

Peter Schiff, CEO of Euro Pacific Capital and long-time proponent of gold, is not buying the dollar hype. Speaking to Aaron Task on Yahoo Finance’s Market Pulse, Schiff projected that the U.S. dollar is going to collapse, and “people are going to turn to gold, in a big way, all around the world.” See below for video of

The Federal Reserve released its post-meeting statement on Wednesday, this time lacking a key word that has been intriguing investors for months. The Fed had continuously been saying it would be “patient” on raising interest rates, but that word was dropped from the latest statement. It also cut its forecast for U.S. economic growth in 2015. U.S. stocks and