Soft U.S. Data Sends Gold To 5-Week High As Stocks, Dollar, Treasury Yields Fall

(Kitco News) – Three major U.S. economic reports Wednesday morning were all softer than forecast, sending gold to a nearly five-week high as equities, the U.S. dollar and Treasury yields sagged, traders said.

U.S. Producer Price Index Falls 0.1% in September

Producer prices for finished goods fell by a seasonally adjusted 0.1% in the U.S. during September, the Labor Department said Wednesday.

U.S. Retail Sales Fall 0.3% In September

Empire State Manufacturing Index Falls 21 Points To 6.2 In October

(Kitco News) -The Empire State manufacturing survey shows that business conditions in New York weakened significantly in October, giving back all of the gains seen last month, the New York Federal Reserve said Monday. 

Gold Firmer, Hits 4-Week High, Amid Increasing Fear in Market Place

Gold futures prices are moderately lower in early U.S. trading Wednesday, on a downside correction from recent gains and on some profit taking by the shorter-term futures traders.

Tuesday’s Forex Analytical Charts

Tuesday’s Analytical Charts for Gold, Silver and Platinum and Palladium

Gold Ends Mixed, Hits 4-Week High; Gains Pared by Firmer U.S. Dollar, Lower Oil

Gold Ends Mixed, Hits 4-Week High; Gains Pared by Firmer U.S. Dollar, Lower Oil

Gold Up, at 4-Week High, on Safe-Haven Demand and amid Weaker U.S. Dollar

(Kitco News) – Gold prices ended the U.S. day session moderately higher and hit a four-week high Monday. More safe-haven demand was featured amid the recent U.S. stock market sell-off. Short covering by the futures traders, whose bearish bets recently are not paying off, and bargain hunting in the cash market were also seen in gold to start the trading week. A lower U.S. dollar index was also a bullish “outside market” factor working in favor of the precious metals market bulls Monday. December Comex gold was last up $8.70 at $1,230.40 an ounce. Spot gold was last quoted up $7.20 at $1,230.75. December Comex silver last traded up $0.037 at $17.34 an ounce.

Crude Oil Prices Tumble As High Supply, Low Demand Collide

Crude Oil Prices Tumble As High Supply, Low Demand Collide