Weaker Tone For Gold

Some good action in the Far East overnight, as the stronger dollar encouraged selling.

The 6 P.M. Recap With Gary Wagner: On To Thanksgiving

Two currents were pushing gold prices around today.
The first, and most important for us in the long term is that a raft of data from the U.S. economy came in shaky at best. Consumer sentiment, housing and manufacturing declines sent red flags flying,…

Gold Ends Steady-Weak in More Lackluster, Pre-Holiday Trading

Gold prices ended the U.S. day session steady to slightly lower in quiet, pre-holiday trading Wednesday. A dearth of bullish fundamental news recently and a bearish chart posture are keeping gold prices on the defensive. Some chart consolidation is al…

French Political Leader Wants Gold Back In France

(Kitco News) – France could be next on the list of countries that wants to take its gold back, if the leader of a far-right political party has her way.

Gold Would Get Boost From Surprise ‘Yes’ Swiss Vote; ‘No’ Vote Already Factored Into Prices

All eyes will be on Switzerland this weekend as traders watch to see if the populace approves a referendum that would mean the central bank would have to ramp up its buying of gold buying over the next several years.

Gold Producers Among Most Vulnerable To Ebola Outbreak – SNL Metals & Mining

Gold producers are among the most at risk when it comes to the most recent Ebola outbreaks, says SNL Metals & Mining.

U.S. New Home Sales Rise 0.7% In October To 458,000

Sales reached a seasonally adjusted and annualized pace of 458,000 units, compared to September’s revised sales rate of 455,000 units. Previously, the Commerce Department pegged September’s sales rate at 467,000.
Economists looked for a rise in sales as consensus forecasts showed expectations of a sales rate of about 470,000 homes.
The department also said last month’s new homes sales increased 1.8% compared to the October 2013 sales rate of 450,000.
The median price for a new home was $305,000 and the average price was $401,100, the report said. The supply of new homes for sale at the end of October was 212,000 units, a 5.6-month supply, the Commerce Department said.

U.S. Pending Home Sales Fall 1.1% In October

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

Silver Coins, Small Gold Coins Are Popular Items For Holiday Gift-Gifting This Year

Holiday shopping is ready to get into full gear and coin dealers say numismatic silver coins and smaller gold coins are among top gift items.

Chicago PMI Declines To 60.8 In November From 66.2 In October

The headline index for the Chicago Business Barometer, widely known as the Chicago Purchasing Managers Index, fell by 5.4 points in November to a reading of 60.8, according to a report released Wednesday.

The index had stood at 66.2 in October, when it rose 5.7 points to its best reading of the year on the strength of a double-digit gain in new orders.

Consensus estimates compiled by various news organizations called for the November headline index to come in around 63 to 63.2. The Chicago report tends to be watched closely as a sign of strength in the Midwestern manufacturing sector and as a possible precursor to the Institute for Supply Management’s PMI for the entire nation, which is scheduled for release on Monday.

Readings above 50 in such diffusion indexes are seen as a sign of economic growth, and vice-versa. The farther an indicator is above or below 50, the greater or smaller the rate of change.