Gold Ends Lower, Hits 5.5-Year Low, Amid Bearish Outside Markets, Looming U.S. Rate Hike
Gold prices sunk to a 5.5-year low Wednesday and were pressured by bearish “outside markets” that saw the U.S. dollar index higher and hit a seven-month high, while crude oil prices were solidly lower and trading near $40 a barrel.
Economy at Risk If Monetary Policy Normalization Is Delayed Too Long – Fed Chair Janet Yellen
(Kitco News) – Despite lingering labor market and low inflation concerns, Federal Reserve Chair Janet Yellen appears to be slightly more optimistic on the U.S. economy, adding there are risks to delaying the start of rate hikes, she said during her speech at the Economic Club of Washington on Wednesday.
Ron Paul Talks Donald Trump and Says U.S. Terror Attack a ‘Significant Threat’
The United States needs to stay out of political fires, former congressman Ron Paul (R-TX) stated in an interview with Kitco News this week.
Read moreGold Extends Early Losses, Hovers Near 5.5-Year Low
Gold prices are seeing increased selling pressure and have extended early losses to trade moderately lower in late-morning trading Wednesday. The U.S.
Read moreSociété Générale Sees Gold Sliding Under $1,000/Oz During 2016
Société Générale looks for gold prices to average $1,000 an ounce in 2016, but to fall below this level during the course of the year.
Vote Now In The Kitco Weekly Gold Survey
Have your say! vote now in the Kitco News Wall Street vs Main Street Weekly Gold Survey.
Read moreHarmony: Debt Reduced; Company Benefits From Higher Rand Gold Price
Harmony Gold Mining Co. Ltd. (NYSE: HMY) says it has repaid 1.1 billion South African rand of its debt as a higher gold price in South African rand helped cash flow.
Read moreGold & Silver Down 10, 13% From October Highs Ahead of Key Macro Events – Triland Metals
CME Group reports that average daily metals trading volume declined 12% in November to 419,000 contracts from 477,000 in the same month a year ago. Meanwhile, the three-month rolling average was 337,000 contracts for the period ending with November.
Read moreGold Weakens on Upbeat ADP Jobs Number, Higher U.S. Dollar
Gold prices fell below unchanged in early U.S. dealings Wednesday, following a U.S. ADP national employment number that came in above expectations.
Read moreFormer Congressman Ron Paul Says Current Market Backwardation a Result of Manipulation
Former Congressman (R-TX) and three time U.S. presidential candidate Ron Paul says the current market situation is acting ‘strange.’