Philadelphia Fed Manufacturing Index Falls To 20.7 In October

(Kitco News) – The manufacturing sector within the Philadelphia region continued to lose some momentum in October, according to data from Philadelphia Federal Reserve.

U.S. Weekly Jobless Claims Fall To 264K, Lowest Since April 2000

(Kitco News) – First-time weekly jobless claims in the U.S. fell by 23,000 to a seasonally adjusted 267,000 during the week to Saturday, the Labor Department said Thursday.

Gold Weaker on Chart Consolidation, but Downside Limited Amid Investor Fear

Gold futures prices are moderately lower in early U.S. trading Thursday, on some backing and filling on the charts after prices Wednesday hit a five-week high.

Wells Fargo: Commodities Under Pressure Along With Equities

Commodity markets are on the defensive along with equities, says Janet Mirasola, managing director of metals with Wells Fargo Securities.

Nowhere To Hide? Not True!

The 10-year bond travelled under 2%, as investors were terrified and looking for a safe haven. Europe is on the verge of another economic Armageddon and geo-political risks continue to accelerate in the Middle East. Where to hide? Well gold popped some $20, but as an American investor so what, what’s the big deal.

Societe Generale Trims Forecasts For Platinum, Palladium

Societe Generale is “cautious” on platinum group metals and downwardly revised its forecasts.

Safe-Haven Demand Boosts Gold to 5-Week High as Fear Grips Market Place

(Kitco News) – Gold futures prices ended the U.S. day session with moderate gains and hit a five-week high on safe-haven demand Wednesday. A litany of worries has injected serious fear into the market place, highlighted by plunging world stock markets. December Comex gold was last up $8.10 at $1,242.40 an ounce. Spot gold was last quoted up $10.00 at $1,242.75. December Comex silver last traded up $0.027 at $17.43 an ounce.

Pace Of Economic Recovery Was Unchanged In September – Fed Beige Book

(Kitco News) – September saw a continued expansion of economic activity throughout the country with little change from the August report, released last month, according to the latest data presented in the Federal Reserve’s current economic conditions, more commonly known as the Beige Book.

CIBC Expects Semafo’s Successful Acquisition of Orbis

Semafo Inc.’s (TSX:SMF) proposal to acquire 100% of Orbis Gold for roughly $150 million will go eventually go through, despite Orbis’ board of directors stating they felt the offer was undervalued.

Higher Gold, Lower Oil Price Trends May Continue As Global Growth Expectations Falter

Gold prices may continue to rise and crude oil prices fall as long as expectations remain sluggish for global growth.

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