U.S. Existing Home Sales Rise 1.5% In October
(Kitco News) – Existing home sales rose 1.5% in October to a seasonally adjusted and annualized rate of 5.26 million units, compared to September’s upwardly revised annualized rate of 5.18 million homes, the National Association of Realtors said Thursday.
Philadelphia Fed Manufacturing Index Rises To 21-Year High Of 40.8 In November
The headline index for a survey of manufacturers in the Philadelphia area improved significantly in November, according to a report released Thursday.
The index for current general activity in the Philadelphia Fed’s manufacturing business outlook survey jumped to 40.8 from 20.7 in October, the regional bank said. The reading was the highest since December 1993. It has now been positive for nine months in a row.
The consensus expectations compiled by various news organizations were for a November reading of somewhere around 18.0 to 18.5.
U.S. Flash PMI Falls To 54.7 In November
(Kitco News) – The U.S. manufacturing sector continues to lose some momentum in November, according to the latest Purchasing Managers Index data.
U.S. Weekly Jobless Claims Fall By 2,000 To 291,000
First-time weekly jobless claims in the U.S. fell by 2,000 to a seasonally adjusted 291,000 during the week to Saturday, the Labor Department said Thursday.
Read moreU.S. CPI Is Unchanged In October
(Kitco News) – U.S. consumer prices were unchanged in October, following September’s rise in inflation, according to the latest data from the Department of Labor.
Gold Mixed; Technical Selling in Futures, Corrective Bounce in Spot Market
Gold futures prices are moderately lower in early U.S. trading Thursday, while the cash, or spot, gold market is seeing a corrective bounce from late selling pressure Wednesday. The New York futures market was closed Wednesday before some additional d…
Read moreThe 6 P.M. Recap With Gary Wagner: You Were Expecting The Earth To Stand Still?
The minutes from the FOMC revealed nothing, changed nothing, except to tell people the economy is getting stronger but not leaving rubber. That’s really no surprise. So hold off on the brass and also – hold off on the mourning shroud. We’re pretty much in the same pattern we’ve been in for a few months.
Gold Ends Weaker on Chart Consolidation, Swiss Poll; FOMC a Non-Event
Gold prices were trading moderately lower Wednesday afternoon, in a volatile trading session. Backing and filling on the charts was featured after recent gains that saw prices hit a three-week high Tuesday. February Comex gold was last down $2.80 at $…
Read moreFOMC Minutes Reveal Some Members Supported Dropping “Considerable Time” In October Statement
(Kitco News) – According the minutes of the October Federal Open Market Committee Meeting some committee members talked about removing the key phrase “considerable time” from the monetary policy statement released after the October meeting.
Read moreUBS: Client Interest In Swiss Gold Initiative Rising
A non-scientific poll conducted Tuesday by UBS of its clients and colleagues shows nearly a third of respondents are “very interested” in an upcoming Swiss gold initiative while 30% are “’somewhat interested,” UBS says. The remaining 39% expressed no interest, which the bank says is likely because the consensus expectation is that the vote will fail. UBS cites the results of an opinion poll Wednesday commissioned by Swiss TV showing the Initiative is unlikely to pass. Support has declined to 38% from 44% on Oct. 24, while opposition has increased to 47% from 36% previously. The remaining 15% are either undecided or did not respond, down from 17% in the previous survey, UBS says. This poll has been highly anticipated as it is the most scientific one available, and UBS says it gives a good indication of voter sentiment in the country. “The decline in support for the initiative therefore does not come as surprise. The results provide the market with reassurance heading into the Nov. 30th vote and diminish gold’s upside risks,” they say.