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Germany’s Angela Merkel Calls For ‘Urgent Fiscal Reforms’
(Kitco News) – At the same time the European Central Bank was surprising markets with a €60 billion monthly asset-purchase program, Germay’s Chancellor Angela Merkel was advocating for “urgent fiscal reforms” in Europe at the 45th World Economic Forum annual meeting in Davos, Switzerland.
Eldorado Gold 2015 Guidance Disappoints, Still Bullish Long-Term – CIBC
Eldorado Gold Corp.’s (TSX:ELD)(NYSE:EGO) 2015 gold production guidance of 640,000 to 700,000 ounces, at all-in sustaining costs between $960 to $995 per ounce, struck CIBC as disappointing, given expected production is 16% lower, and operating costs were 10% higher, than the bank anticipated.
ECB Surprise €60B QE Package Not Enough, Currency Wars At Play – Davos Conference
(Kitco News) – Central banks have surprised markets this month, and the European Central Bank was no exception on Thursday announcing a much higher than expected stimulus package for the region.
Read moreGold Rallies in Wake of ECB QE Announcement, as European Markets Roiled
Safe-haven demand has once again rallied the gold market in moderate fashion Thursday morning, amid some confusion and uncertainty in the immediate aftermath of the European Central Bank’s move to initiate a quantitative easing of its monetary policy….
Read moreECB To Buy Sovereign Debt, Expanding Monthly Purchase-Program To €60 Billion
(Kitco News) – The European Central Bank will launch an expanded “asset purchase program,” expanding its monthly purchases to €60 billion, said ECB President Mario Draghi Thursday.
Gold Fluctuates In Wake of ECB QE That Was More Aggressive Than Expected
Gold is presently modestly higher in early U.S. trading but price action is choppy and on both sides of unchanged in the aftermath of European Central Bank President Mario Draghi’s details of the quantitative easing of monetary policy package. Those details were more aggressive than most market watchers expected. February Comex gold was last up $0.60 at $1,294.60 an ounce. Spot gold was last up $0.50 at $1,294.00. March Comex silver last traded up $0.072 at $18.26 an ounce.
U.S. Weekly Jobless Claims Fall To 307,000
(Kitco News) – Following last week’s much higher-than-expected rise, weekly jobless claims in the U.S. fell by 10,000 claims, from the previous week’s revised level, to a seasonally adjusted 307,000 claims during the week to Saturday, the Labor Department said Thursday.
ECB Leaves Rates Unchanged
(Kitco News) – The European Central Bank, as expected, left interest rates unchanged Thursday.
Read moreThe 6 PM Recap With Gary Wagner: Draghi And The German Dragon
Markets seemed to take a breather today. The Dow was up 0.25% on anticipation of stimulus moves by the European Central Bank, and on news that United Health Care and Netflix reported better-than-expected earnings in Q4.
Read moreChina Expects Lower Growth But No ‘Hard Landing’ – Chinese Premier
(Kitco News) – China will continue to see slower economic growth but will not suffer a “hard landing,” said Li Keqiang, Premier of the People’s Republic of China in a keynote speech at the 45th Annual World Economic Forum in Davos, Switzerland.