Gold’s Uptrend Remains In Place As Prices Hold Above 200-DMA – ABN AMRO
After hitting a 15-month high at the start of the month, the gold market is ending May with its biggest monthly loss since November; however, one international bank remains firm the precious metal will resume its uptrend.
Read moreGold Ends Near Steady After Hitting 3.5-Mo. Low Overnight
Gold prices ended the U.S. day session near unchanged Tuesday, after hitting a 3.5-month low overnight.
Read moreVote Now In The Kitco Weekly Gold Survey
Kitco aficionados, it is now time to have your say in where you think gold prices are heading in the short-term.
Read moreGold Pushes Just Above Unchanged on Mild Bargain Hunting, Short Covering
Gold prices have erased modest early losses and have moved to steady to slightly higher levels in late-morning trading Tuesday.
Read moreU.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…
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