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U.S. Weekly Jobless Claims Fall To 280K
(Kitco News) – First-time weekly jobless claims in the U.S. fell by 9,000 to a seasonally adjusted 280,000 during the week to Saturday, the Labor Department said Wednesday, in a early release to do the Christmas holiday.
Read moreGold Near Steady in Quiet, Pre-Holiday Trading
(Kitco News) – Gold prices are not straying far from unchanged levels in early U.S. trading Wednesday.
Read moreBill Gates Sponsoring Palladium-Based LENR Technology
Low energy nuclear reactor (LENR) technology, and by extension palladium, is attracting the attention of one of the richest men in the world and a pioneer inventor of new technology.
Read moreLBMA: November Sees Strong Trading Activity in Gold, Silver
November was an extremely busy month for gold trading among London Bullion Market Association members as activity rose to its highest level since August 2013, the association said Tuesday.
Read moreGold Weakens in Wake of Stronger U.S. GDP Report
Gold prices ended the U.S. day session modestly lower and closed at a three-week low close Tuesday. The precious metal saw selling pressure following a U.S. GDP report that was hotter than expected and which in turn boosted the U.S. dollar index to a four-year high. Some more technically related selling pressure was also featured in gold, following Monday’s losses. Thin trading conditions this week are exacerbating price moves in many markets, including gold and silver. February Comex gold was last down $4.30 at $1,175.50 an ounce. Spot gold was last down $1.60 at $1,175.50. March Comex silver last traded up $0.022 at $15.71 an ounce.
Mining CEOs Agree, We Could See A 2015 Gold Supply Crunch
(Kitco News) – As another year goes into the books, gold mining companies are looking into mine plans and strategies for the new year.
Read moreLower Oil Prices, Higher Equities, Tax Selling Hurting Gold – RBC’s Gero
There are not enough bargain hunters in the gold market to create much needed momentum in the marketplace, says George Gero, vice president and precious-metals strategist with RBC Capital Markets Global Futures. Gero says the gold market is hurting because of lower oil prices, stronger equity markets and year-end tax selling. “We still see lots of bears in the woods,” he says. “Gold prices need to rally back to $1,225 [level] for the technical picture to improve for the gold market,” he adds.
Final U.S. GDP Rises 5.0% In The Third Quarter
(Kitco News) – The U.S. economy showed no signs of slowing down in the third quarter according to the U.S. Department of Commerce’s final reading of third-quarter gross domestic product.
Gold Steady-Firm as Follow-Through Technical Selling Offset by Bargain Hunters
Gold prices are steady to slightly higher in early U.S. trading Tuesday. Some more technically related selling pressure is featured following Monday’s losses. However, bargain hunters have stepped in to buy this latest dip in prices. A lack of fresh, bullish fundamental news for gold this week is allowing the chart-based traders to become emboldened sellers. Thin trading conditions this week are exacerbating price moves in many markets, including gold and silver. February Comex gold was last down $0.60 at $1,179.20 an ounce. Spot gold was last up $2.20 at $1,177.50. March Comex silver last traded up $0.092 at $15.775 an ounce.
The Six PM Recap With Gary Wagner: Inflation Hedge Needs Are Evaporating
As oil continues its spectacular decline, and prices for gasoline start eyeing $1.50 per gallon in some places, inflation seems like some old fading cowboy from a Saturday afternoon movie serial riding into the sunset on his aged horse. Goodbye, Old Paint. (That’s the standard name for an old cowboy’s horse.)