Gold Rebounds From Early 3-Week Low On Bargain Hunting, Short Covering
Gold prices were ending the U.S. day session higher and near the daily high, on a corrective rebound from selling pressure that pushed prices to a three-week low overnight.
Read moreOnly $250 Worth Of Gold In Rio Olympic Medal
The 2016 Summer Olympics are just two weeks away with athletes from all over the world are gearing up to win the top title: the gold medal.
Read moreGold Shakes Off Fourth Consecutive Gain In U.S. Existing Home Sales
(Kitco News) – Gold prices are ignoring stronger than expected existing home sales data for the fourth consecutive month, according to the latest data from the National Association of Realtors (NAR).
Read moreECB Downplays Brexit Risks But Gold Not Fazed By Outlook
(Kitco News) -The European Central Bank is downplaying the impact Britain’s referendum to leave the European Union will have on the euro area economic growth. However, the gold market appears to be disregarding the laisez fair attitude.
HSBC: Gold Could Ease To $1,300 But Declines To Be Cushioned
HSBC cautions that gold could pull back to around $1,300 an ounce, but the retreat would be limited. The August futures did fall back as far as $1,310.70 an ounce in overnight screen trading.
Read moreU.S. Initial Jobless Claims Remain Relatively Steady At 253K
(Kitco News) – First-time weekly jobless claims in the U.S. were relatively steady for a second week, falling by 1,000 claims to seasonally adjusted 253,000 during the week to Saturday, the Labor Department said Thursday.
Read moreBulls Will Require Patience
Gold received a small bid overnight as the yen rebounded against the dollar on news that BOJ Governor Haruhiko Kuroda dismissed the concept of “helicopter” money to stave off Japan’s deflationary issues.
Philadelphia Fed Manufacturing Index Falls To Minus 2.9 In July
The headline index for a survey of manufacturers in the Philadelphia area weakened in July, according to a report released Thursday.
Read moreGold Sees Modest Short-Covering, Bargain-Hunting Bounce
Gold prices are firmer in early U.S. trading Thursday, on a corrective rebound from selling pressure that pushed prices to a three-week low overnight.
Read moreECB Leaves Interest Rates Unchanged
(Kitco News) – In its first meeting following Britian’s decision to leave the European Union, the European Central Bank left interest rates unchanged Thursday.