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Gold Hits 6-Wk High, On Safe-Haven Buying, Bullish Charts

Gold prices were ending the U.S. day session modestly higher and hit a six-week high Monday.

Hedge-Fund Buying Pushing Gold To Key Levels – Analysts

(Kitco News) – Momentum is building on itself in the gold market as hedge funds and money managers continue to add to their bullish positioning, driving the price closer to a key psychological level.

Gold Holding Gains After Drop In ISM Non-Manufacturing PMI

(Kitco News) – Gold prices are holding steady near their session highs following a drop in momentum in the service sector, according to the latest data from the Institute of Supply Management (ISM).

Pick Your Morning Headline, Everything’s Gold Bullish

June 5 – Gold prices advanced in early trading Monday. Waking up to the morning news every day in recent months delivers fresh political, economic and geopolitical events that are gold bullish.

UBS: India’s Gold GST Of 3% ‘Relatively Subdued Outcome’

UBS analysts are calling weekend developments in India, including announcement of a 3% goods and services tax on gold, as “a relatively subdued outcome” and “encouraging.”

First Majestic Plans Phased Restart Of La Encantada Operations

Operations at First Majestic Silver Corp.’s (NYSE: AG; TSX: FR) La Encantada Silver Mine in Mexico will be restarted on a phased-in basis during the coming weeks, the company said.

Crypto Currency Bubble Ready To Pop

Gold At 6-Week High On Some Safe-Haven Demand, Bullish Charts

Gold prices are moderately up and have hit a six-week high in early U.S. trading Monday.

Osisko Gold Royalties Acquires 74 Assets For C$1.125 Billion

Osisko Gold Royalties Ltd (TSX, NYSE: OR) has agreed to acquire a precious-metals portfolio, consisting of 74 royalties, streams and precious metal offtakes, from Orion Mine Finance Group for C$1.125 billion, the company reported Monday.

India To Hit Gold Market With 3% Tax On July 1

India will be rolling out a new 3% nationwide sales tax on gold and gold jewelry as soon as July 1, this according to the country’s GST Council, which met during the weekend to finalize the numbers.