Gold Wins In A Global Currency War – Analysts

(Kitco News) – The race to the bottom in currency markets continues to heat up and in a potential currency war some analysts see gold as the biggest winner.

Gold Suffers Sharp Losses In Wake Of Hawkish FOMC Statement, Higher USD Index

(Kitco News) – Gold prices closed sharply lower and hit a two-week low Thursday, in the aftermath of an FOMC statement that is being read as more hawkish than dovish. A higher U.S. dollar index on this day also helped to pressure the precious metals. Thursday saw the biggest one-day drop in gold and silver prices in months. February Comex gold was last down $30.60 at $1,255.30 an ounce. Spot gold was last down $27.20 at $1,256.60. March Comex silver last traded down $1.243 at $16.845 an ounce.

Santacruz Sees QoQ Silver Eq. Production Increase At Rosario Mine

Santacruz Silver Mining Ltd. (TSXV:SCZ) produced 255,487 silver equivalent ounces, a 32.8% quarter-on-quarter increase, from its Mexican-based Rosario Mine’s maiden year of production.

Triland Metals: Gold Taking Cues As A Currency Rather Than A Metal

Triland Metals analysts say that gold’s current pullback shouldn’t be considered “deep retracement” just yet. “There has been dip buying by the ETF community and persistent demand around the $1275 area,” they say. “Follow through stops could push to $1266 but it appears that most are positioning for a continuation of the bullish sentiment surrounding precious metals,” they say. Looking at the weaker base metals complex, the analysts say that gold could see some pressure as a result. “Headwinds could be seen to come from a floundering base metals complex that is pushing recent lows again this morning but gold seems to be taking its cues as a currency rather than a metal; such is the true nature of it.”

Gold Extends Early Losses as U.S. Dollar Index Hits Daily High

Gold is sharply lower and near the daily low as midday approaches Thursday.
Prices were under pressure early on, mainly from a generally hawkish reading of Wednesday afternoon’s FOMC statement. Then as the U.S. dollar index moved to its daily high an…

Effectiveness Of QE In U.S. Will Not Be Mirrored In Europe – Martin Feldstein

Although the unconventional stimulus package introduced in the U.S. post-crisis helped the economy from collapsing, one famed economist said the program might not be as effective in Europe.

U.S. Pending Home Sales Fall 3.7% In December

(Kitco News) – The number of consumers who started the process of buying a home decreased in December, reversing the modest gains in November, according to the latest data from the National Association of Realtors (NAR).

U.S. Weekly Jobless Claims Fall To 265K, Lowest Since April 2000

(Kitco News) – First-time weekly jobless claims in the U.S. fell by 43,000 to a seasonally adjusted 265,000 during the week to Saturday, the Labor Department said Thursday.

Gold Lower Following Hawkish Read On FOMC Minutes

Gold prices are solidly lower in early U.S. trading Thursday, in the wake of a FOMC statement that is now being read as more hawkish than dovish.

Gold Weaker on Mild Profit Taking, Chart Consolidation; FOMC a Non-Event

Gold prices ended the U.S. day session modestly lower Wednesday.

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