The 6PM Recap With Gary Wagner: A Slow Day Tiptoes By And We Are Reminded Why Economics Is Called The Dismal Science
The soft dollar is underpinning gold’s and other precious metals’ upward trend. Palladium is acting on its own, however. It is hard to determine the reasons for its recent strength. World manufacturing that requires it is growing, but not surging madly. Perhaps more and more fuel cells are being manufactured; palladium is a key element in their making
Gold Up as Near-Term Technicals Favor the Bulls
Gold prices ended the U.S. day session modestly higher Tuesday, as traders bought the recent dip in prices. The near-term chart postures for gold and silver favor the bulls and continue to invite fresh buying interest in both metals.
Read moreLBMA Delegates See Modest Change In Gold, Gains For Other Metals In Next Year
Participants in the London Bullion Market Association’s (LBMA) annual conference look for gold prices to change modestly by the time the event begins next year, but for other precious metals to be higher.
Osisko Acquires Canadian Portfolio Of Precious Metal Royalties
Osisko Gold Royalties Ltd. (TSX: OR) announces that it has entered into an agreement to acquire a portfolio of Canadian royalties held by Teck Resources Ltd. (TSX: TCK.A and TCK.B; NYSE: TCK) for C$28 million, with an additional C$2.5 million paid on c…
Read moreHecla Mining 3Q Silver Output Dips But Production On Target For Upper End Of Guidance
Hecla Mining Co. (NYSE: HL) said Tuesday that silver production dipped in the third quarter but gold output was up, with “strong, consistent” silver output at the Greens Creek Mine in Alaska but lower production at Lucky Friday in Idaho due to lower grades and mechanical issues that have been resolved.
U.S. Housing Starts Rise To 1.21 Million Units In September
U.S. housing starts rose 6.5% in September to a seasonally adjusted annual rate of 1.21 million units, the Commerce Department said Tuesday.
Read moreGold Steady-Firmer on Chart Consolidation; Fresh News Awaited
Gold prices are trading steady to slightly higher in a quieter marketplace Tuesday. More chart consolidation is featured after the market hit a 3.5-month high last week.
Read moreGold Traders Keeping Close Tabs On U.S. Dollar Index – optionsXpress
Gold traders will be closely eyeing the U.S. dollar index after the yellow metal recently hit a four-month high on weakness in the greenback in the wake of soft U.S. economic data, says Rob Kurzatkowski, senior commodity analyst with optionsXpress.
Read moreOPEC Meets This Week
Gold prices Are firmer in early U.S. trading, on a bounce from the very recent selling pressure.
Read moreThe 6PM Recap With Gary Wagner : No Revolution But Plenty Of Convolution In Gold And Equities Amid Hard Falling Oil Prices
Yet another factor came into play today in all markets. China data (which may be discounted by 30 to 50%) seemed weak today. It reflects the continuing slowdown in that enormous country.
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