By Debbie Carlson
Kitco News
Economic data releases out of China and Federal Reserve chief Janet Yellen’s first congressional appearance since being sworn in Feb. 3 could influence gold prices next week.
In the U.S., economic data will focus on the consumer, with retail sales one of the main reports slated for release next week.
February gold futures rose Friday, settling at $1,262.90 an ounce on the Comex division of the New York Mercantile Exchange, up 1.9% on the week. March silver fell Friday, settling at $19.936 an ounce, up 4.3% on the week.
In the Kitco News Gold Survey, out of 33 participants, 23 responded this week. Sixteen see prices up, while four see prices down and three see prices trading sideways or are neutral. Market participants include bullion dealers, investment banks, futures traders and technical-chart analysts.