Gold Pushes Above Unchanged, at 3-Mo. High, On Fresh Safe-Haven Buying As U.S. Stock Market Sells Off
Gold prices have moved to slightly higher levels and are at a three-month high in late-morning dealings Tuesday, after seeing some mild profit-taking pressure overnight.
Read moreCiti: Gold’s Safe-Haven Status Back In Vogue, But For How Long?
Citi Research says gold has been one of the best-performing assets so far in 2016 but questions how long this will last. The bank had called for gold to average $1,080 an ounce in the first half. “The upside risk to this view is one dominated by China and the associated global equities rout, which could see prices breach $1,150/oz,” Citi says. “Downside price risks to our gold view could be a rebound in risk appetite from investors, particularly in U.S. equities. For now, we believe safe-haven attributes remain supportive for gold in the short term; however, we are not fully convinced that these themes will prevail into the remainder of the year. Despite outperforming the rest of the base and precious metals YTD (year to date), it is hard to see gold breaching the key level of $1,200/oz in 1Q16.”
McEwen Mining Regains Compliance With NYSE Listing Standards
McEwen Mining Inc.(NYSE, TSX: MUX) has received notification from the New York Stock Exchange that the company has regained compliance with the NYSE’s continued listing standards for the minimum price of its common stock.
Mild Profit Taking in Gold After Prices Hit 3-Mo. High Overnight
Gold prices are slightly lower in early U.S. trading Tuesday, on some mild profit taking and technical chart consolidation after hitting a three-month high overnight.
Read moreGold Sees Mild Profit-Taking Pullback
Gold prices are modestly weaker today on some Profit taking from recent gains that pushed prices to a three-month high on Monday.
Read moreThe 6PM Recap With Gary Wagner: Gold Continues to act as a Safe Haven as Energy Still Pushes the World around except in the U.S
Unless oil recovers enough to be reckoned as “stable” by other elements in the investment community, there will be trouble in the equities.
Is Warren Buffet Betting On the Wrong Commodity As Gold And Silver Rally?
(Kitco News) – Legendary value investor Warren Buffet is making headlines in financial markets as his company, Berkshire Hathaway (BRK.B), announced that it increased its exposure to oil refining company Phillips 66 (NYSE: PSX).
Read moreTime For a Good Gold-to-Silver Ratio Play For Traders? – Peter Hug
Is a major upside number for gold in the cards? Or is the choppy action making investors wary?
Read moreGold Up, Hits 3-Month High, As Bulls Continue To Gain Momentum
Gold prices ended the U.S. day session higher and poked to a three-month high Monday. Continued safe-haven demand and technical buying interest are featured in the yellow metal so far this year.
Read moreGold And Silver Outperforming, Attracting Hedge Funds, Money Managers – CFTC
After taking a bit of a break, hedge funds and money managers are starting to wade deeper into gold waters, according to the latest data from the U.S. Commodity Futures Trading Commission.
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