Gold Rebounds on Bargain Hunting, Short Covering
Gold prices are trading moderately higher in mid-morning dealings Tuesday, after showing slight price weakness overnight. Bargain-basement buyers entered the market following the recent selling pressure that drove prices to a five-week low on Monday.
Read moreMKS: Gold To Take Direction From Dollar Moves After Major U.S. Reports
Much of gold’s direction this week will hinge on how the U.S. dollar fares amid a heavy slate of economic data
Stillwater Mining Announces Contract Extension With CEO McMullen
Stillwater Mining Co. (NYSE: SWC), the only U.S. producer of platinum and palladium, announces that Mick McMullen, president and chief executive officer, has agreed to a contract extension through 2018.
Read moreGold Weaker As Technical Posture Deteriorates; Yellen Speech Awaited
Gold prices are slightly lower in early U.S. trading Tuesday.
Read moreGold Weaker. Fed Chair Yellen Speech Awaited
Gold prices are weaker in early trading, as little risk aversion recently has pressured the safe-haven metal.
Read moreThe 6PM Recap With Gary Wagner: Yellen Will Walk Tightrope in Tomorrowâ??s Scheduled Speech
Of course, there are many in the trading community that wish the side-talkers in the Fed, especially the ones who are FOMC non-voters, would walk the plank because they are pushing and pulling the financial world. Tomorrow’s speech is the ideal opportunity for Chairwoman Yellen to put the world straight as to what she, if not the core of the FOMC, is thinking.
Gold Weaker, Hits 5-Week Low, On Better Risk Appetite, Technical Selling
Gold prices are ended the U.S. day session slightly lower Monday, and did notch a five-week low overnight. Less risk aversion in the marketplace to start the trading week is a negative for safe-haven gold.
Read moreDubai amusement park to add $454M Six Flags
DUBAI, United Arab Emirates (AP) — A massive Dubai amusement park project still under construction plans a $454-million addition to include a Six Flags, the company said Monday, yet another major bet on tourism by the attraction backed by the city-state’s ruler.
Money Managers Buy Gold After Dovish Fed, But Interest Won’t Last – Analysts
Commodity Futures Trading Commission data confirmed that a dovish Federal Reserve created some renewed buying interest in gold futures among money managers, but it wasn’t enough to build on gold’s recent rally.
Gold Market Showing “Disconcerting Weakness” – Dennis Gartman
The bull market that began late last year continues but not without some very “disconcerting weakness,” says market watcher Dennis Gartman.