World Stock Markets Mixed As Asia Back From Holidays
(Kitco News) – European and Asian stock markets were mixed Tuesday. Asian markets are back in full swing after a week-long holiday in China last week and a holiday in Japan on Monday.
Positive Development in Gold Even with Dollar Strength
Although the biggest story of the day was rising oil prices, let’s talk about gold first.
A Trump Presidency Would Hurt USD And Boost Gold – Capital Economics
(Kitco News) – Gold had its worst week in more than three years in part because of a stronger U.S. dollar; however, one research firm expects the greenback’s strength to be only short term.
Gold, Silver See Short-Covering, Bargain-Hunting Bounces
Gold and silver futures prices ended the U.S. day session moderately higher Monday, on short covering in the futures market and bargain hunting in the cash, following last week’s drubbing that drove both markets to multi-month lows. December Comex gold was last up $9.50 an ounce at $1,261.40.
Cobalt Prices On The Rise Amidst Ethical Concerns
(Kitco News) – Cobalt, as we reported previously, is the secret ingredient in lithium ion batteries. Battery-electric vehicles like Tesla’s contain approximately 50kg, or about 10% of the total battery weight, in every car.
CFTC Data Show Hedge Funds Bail On Bullish Gold, Silver Bets; More To Come – Analysts
(Kitco News) – Hedge funds fled their bullish gold and silver bets last week, according to the latest data from the Commodity Futures Trading Commission.
Read moreThe 3 Key Factors That Matter For Gold This Week
Gold prices gained modestly in early trading Monday driven by fresh uncertainty over the outcome of the upcoming U.S. presidential election boosted safe-haven demand for the yellow metal.
Read moreWGC Names Joseph Cavatoni Managing Director, USA and ETFs
The World Gold Council, a market-development organization for the gold industry, has appointed Joseph Cavatoni to be managing director, USA and exchange-traded funds.
Read moreGoldcorp Resumes Operations At Peñasquito Mine
Goldcorp Inc. (TSX: G, NYSE: GG) reports that it was ramping up operations at the Peñasquito mine in Mexico over the weekend after the end of a blockade by a trucking contractor that began Sept. 26. Early last week, the company reported a “controlled shutdown” after the blockade occurred when the company was trying to diversify the local transportation chain.
Gold Up On Short Covering, Bargain Hunting
Gold and silver futures prices are moderately higher in early U.S. trading Monday, on short covering in the futures market and bargain hunting in the cash, following last week’s drubbing that drove both markets to multi-month lows. December Comex gold was last up $8.70 an ounce at $1,260.60. December Comex silver was last up $0.31 at $17.69 an ounce.