Today is the first full trading week of 2014!

Today is the first full trading week of 2014! We have seen gold rally for the last couple of days, but can the shiny yellow metal sustain its rally? As we are approaching closer to the Chinese New Year, we expect to see an increase in demand for physical gold. Gold is often exchanged for gift giving amongst the Chinese as they enter the year of the horse. It is said that individuals born during the year of the horse are clever, cheerful, stubborn, and have great communication skills. The year of the horse represents good health and is the year for individuals to make the most out of opportunities given to them.  China surpassed India as the largest gold consumer for 2013. It should be interesting to see what direction gold takes once the Fed minutes come out on Wednesday and the Nonfarm Payrolls data is released on Friday. These numbers will give investors a signal about the pace of the economic recovery and how aggressive investors can expect the Fed to be with tapering. Have a great day!