Gold prices have bandied about quite a bit in the last two months while maintaining a relatively modest range of less than $90. The high point for gold in the last 60 days was $1,139.60 per ounce at the start of March and the low point was $1,052.25 in early February.

Crude oil prices cruised to their highest level of 2010 Wednesday (March 10) morning, before quickly reversing, as speculators consider new data on the level of crude supplies released by the Energy Information Administration.

A positive report on jobs Wednesday (March 3) showed a slight increase in the number of employed workers in the US. This was a strong enough sign to prompt some analysts to suggest unemployment and a bad jobs market could be bottoming out.
The solid economic news was enough to drive oil prices higher despite the latest Energy Information Administration report that shows relatively high levels of crude stockpiles in the US. With more employed people, the market expectation is that demand by businesses and consumers for oil-based products …

The dollar has been firming up in the last several weeks, thanks in large part to growing expectations of a tighter monetary policy leading to higher interest rates. Federal Reserve Chairman Ben Bernanke tried to reassure Americans and quash some of those assumptions with his comments to Congress about the economy Wednesday (February 24).

Gold prices have been on the rebound in the last two weeks after touching a near-term low at price on February 5th of $1,052.25. With a current (February 17) gold spot rate of $1,114.70 per ounce, the commodity has increased in worth by over $60 in 12 days.

While declining oil prices over the last week have not necessarily caught the attention of consumers as much as they have speculators and impacted businesses, falling gas prices have. Friday (January 22) marked the seventh consecutive day of falling fuel prices with the current national average at $2.73, according to Wright Express and the Oil Price Information Service.

The spot rate gold price has dipped back to $1,122.10 per ounce thanks to the continuing resurgence of the dollar. The dollar has improved slowly but steadily in recent weeks as it becomes more likely the Fed will raise interest rates sometime in the next several months.