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The Return of Currency Wars – Nouriel Roubini
NEW YORK – The recent decision by the Bank of Japan to increase the scope of its quantitative easing is a signal that another round of currency wars may be under way. The BOJ’s effort to weaken the yen is a beggar-thy-neighbor approach that is inducing policy reactions throughout Asia and around the world.
ISM Manufacturing Index Falls To 58.7 In November
Monday, the ISM said its Purchasing Managers Index showed a reading of 58.7% in November, down from October’s reading of 59.0%. According to consensus reports, economists expected to see the index to fall to between 57% and 58%.
Gold Posting Sharp Rebound on Heavy Short Covering, Bargain Hunting, Weaker U.S. Dollar
Gold prices are posting good gains in mid-morning trading Monday. The market is seeing a short-covering and bargain-hunting bounce after prices were sharply lower and hit a three-week low in overnight trading. A weaker U.S.
dollar and modestly firmer …
Technical Trading: Gold Buyers Emerge, November Low Holds For Now
Dec 1 —Gold buyers swooped in to scoop up bargain pricing amid overnight weakness in the yellow metal and the market is now showing solid gains in early morning trading. Comex February gold futures fell to an intraday low at $1,141.70 Monday and have rebounded as high as $1,187.90 per ounce. The gold market approached, but did not test the November 7 low at $1,132, which is major support for the market. For now, that major support floor has held firm.
Citi Forecasts Average 2015 Gold Price Of $1,220/Oz, Silver $16.50/Oz
Citi Research forecasts 2015 gold prices to average $1,220 an ounce and silver prices to average $16.50 an ounce, saying they are neutral on the prices for those precious metals.
Read moreGold Rebounds from Sharp Sell-Off in Asian Trading
Gold futures prices are moderately higher and spot prices are moderately lower in early U.S. trading Monday. Prices have bounced well up from their overnight lows on short-covering and bargain hunting after hitting a three-week low in Asian trading. A…
Read moreGold Silver Prices Drop To Start The Week But Bottom Could Be Near
(Kitco News) – Analysts are not surprised that gold prices are starting the week on a soft note after Switzerland overwhelmingly rejected an initiative that would have boosted the Swiss National Bank’s gold reserves.
Switzerland’s Gold Referendum Fail Could Drag Gold Prices Lower
(Kitco News) – The “spectacular” fail of Switzerland’s gold referendum should help maintain gold’s current down trend, said one market analyst.
Kitco Readers Would Vote A Resounding Yes In Swiss Gold Referendum
(Kitco News) – If Kitco Readers had their way the Swiss National Bank would already be preparing to buy gold ahead of the official vote on Sunday.
Read moreGold To Start Week With Swiss Referendum, End With U.S. Payrolls
Gold trading next week will be bookended by a pair of major potentially market-moving news events – a Swiss gold referendum on Sunday and the monthly U.S. employment report on Friday.