U.S. Weekly Jobless Claims Fall 11,000 To 271,000 By Kitco News
First-time weekly jobless claims in the U.S. fell by 11,000 to a seasonally adjusted 271,000 during the week to Saturday, the Labor Department said Thursday.
Philly Fed Survey Falls Back Into Negative Territory In December To -5.9
(Kitco News) – The manufacturing sector within Philadelphia area lost momentum in December, giving back gains seen from the previous month, according to the Philadelphia Federal Reserve.
Read moreGold Quickly Gives Up Wednesday’s Gains As U.S. Dollar Index Surges
Gold prices are solidly lower in early U.S. trading Thursday and have quickly relinquished Wednesday’s gains that came in the wake of the first U.S. interest rate increase in nine years.
HSBC: Gold Could Benefit From Short Covering But Upside May Be Capped
Gold could benefit from short covering but there are factors at play that could cap the metal’s advance in the aftermath of the Federal Reserve’s move to hike interest rates Wednesday, says HSBC.
World Stock Markets Rally In Wake Of Fed Rate Increase
Gold prices are lower and have given back most of Wednesday’s gains Thursday morning, pressured by a sharp rally in the U.S. dollar index.
Read moreThe 6PM Recap With Gary Wagner: The Fed Turns The World Today But Very Slowly And Gently
More importantly, since last performing such a contortion in September, the Fed lowered its projection of where rates most likely will be in the next few years.
Read morePersistently Lower Oil & Stronger USD Could Force Fed To Ease Rates – Yellen
(Kitco News) – Persistently lower oil prices and a stronger U.S. dollar could be the two factors that throw the Fed’s new game plan to normalize interest rates out the window as both these markets could push already weak inflation numbers lower.
Gold Ticks Higher After Fed Rate Hike; Analysts See Potential For More Gains
Gold futures ticked higher in the aftermath of the Federal Open Market Committee’s first U.S. interest-rate hike in nearly a decade Wednesday, with analysts suggesting there is potential for further gains in a market that had already factored in the news.
U.S. Rate Hikes: ‘Not Necessarily Bad For Gold’ – WGC Year-End Gold Report
Despite an expected new U.S. interest rate-hike cycle, which many expect to weigh on gold prices, the World Gold Council says they remain optimistic for the yellow metal in an environment of rising interest rates next year.
Read moreGold Holds On To Early Gains Following As-Expected Fed Rate Hike
Gold prices were trading higher in afternoon dealings Wednesday and holding on to early gains in the aftermath of the first interest rate increase from the U.S. Federal Reserve since 2006.