Gold Market Awaits U.S. Jobs Data; Payrolls Growth Expected To Have Picked Up Again

Gold Market Awaits U.S. Jobs Data; Payrolls Growth Expected To Have Picked Up Again

Tuesday’s Forex Analytical Charts

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

Fortuna Silver Lifts Resources, Reserves At San Jose Mine

Fortuna Silver Mines Inc. (TSX:FVI)(NYSE:FSM) increased silver reserves and resources at its wholly owned San Jose mine, located in Oaxaca, Mexico.

U.S. Consumer Confidence Falls To 86.0 In September

(Kitco News) – U.S. consumer confidence dropped in September after holding near a seven-year high for the last two months, the U.S. Consumer Board said Tuesday.

Chicago PMI Falls To 60.5 In September From 64.3 In August

The headline index for the Chicago Business Barometer, widely known as the Chicago Purchasing Managers Index, dropped by 3.8 points in September to a reading of 60.5.
In August, the index was 64.3. Despite the fall, the index reading of 60.5 is still considered “robust,” the Institute for Supply Management said.
Consensus estimates compiled by various news organizations called for the September headline index to come in between 59 to 65. 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 comes out one business day later and is scheduled for release on Wednesday.
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.

Gold Sinks to 9-Month Low, Pressured by Surging U.S. Dollar

Gold prices are lower and fell to a nine-month low in early U.S. trading Tuesday. The yellow metal continues to be hamstrung by a powerful rally in the U.S. dollar and is now close to falling below major psychological support at the $1,200.00 level. D…

Gold Market Is ‘Very Short;’ Vulnerable To Rebound – TD Securities

With the drop in speculative long positions to the smallest since January and reduced holdings of gold-backed exchange-traded funds, “we judge that real money managers are reluctant to buy gold at this time,” says TD Securities.

Quick Turnaround From Studies To Mine Production Is Key – Goldsource President

(Kitco News) – With gold prices continuing to flounder against a stronger U.S. dollar, getting a mine up and running as quickly as possible is the smart way to go, said junior gold-mining executive.

Gold Ends Mixed; Short Covering and Bargain Hunting Offset by Strong U.S. Dollar

Gold futures prices ended the U.S. day session modestly higher, while the spot gold market was modestly lower Monday. Tepid short covering by the futures traders and some light bargain hunting were featured, following recent solid selling pressure tha…