U.S. Consumer Confidence Dips To 92.6 In May
(Kitco News) – Growing global and domestic uncertainty appears to be weighing on U.S. consumers as confidence slips in May, according to the latest data from the Conference Board.
Read moreGold On The Brink, Bargain Hunters Come To The Rescue
Don’t look now, but bargain hunters rushed in overnight to buy the gold dip. Gold futures skidded just below the psychologically significant $1,200 per ounce zone in overnight trading, but price-conscious bargain hunters scooped up the dip.
Read moreChicago Manufacturing Sector Falls Back Into Contraction Territory
(Kitco News) – The headline index for the Chicago Business Barometer, widely known as the Chicago Purchasing Managers Index, continued to weaken in May.
Read moreFreeport-McMoRan Completes $1 Billion Sale Of 13% Interest In Morenci Mine
Freeport-McMoRan Inc. (NYSE: FCX), the world’s largest publicly traded copper company and also a major gold producer, reports completion of its previously announced sale of a 13% interest in its Morenci joint venture to Sumitomo Metal Mining Co. Ltd. $1 billion.
Just Another Outside Month
The US Dollar Index is likely to end the month of May with an outside-month-up formation. Market technicians generally have a lot of respect for monthly key reversals.
Read moreGold Hovers Near 3.5-Mo. Low As Near-Term Chart Posture Continues To Weaken
Gold is modestly lower and has hit a 3.5-month low early this week. Prices are in a steep four-week-old downtrend on the daily bar chart as there is scant, fresh bullish fundamental news to be found. This is allowing the chart-based traders to dominate…
Read moreBarclays: Gold ETP Inflows Cool In April But Pick Up Again In May
Investment in precious-metals exchange-traded products cooled in April but showed signs of picking up again in May, Barclays says.
Read moreGold Finds Buying Interest At The $1,200 Level
Over the holiday weekend, gold tested and held support at the psychological $1,200 number.
Read moreGold Weaker And Hovering Near 3.5-Month Low
Gold futures prices are modestly lower and have hit a 3.5-month low to start the U.S. trading week.
Read moreTime To Own Physical Gold, Not ETFs – Grant Williams
The gold picture is becoming clearer and it might be wise to own the physical – not paper – metal, this according to a popular newsletter writer.