Gold Rallies to 7-Week High on Bullish Technical Momentum; $1,200 Now in Sight
Gold prices are moderately higher and hit a seven-week high in early U.S. trading Thursday, on follow-through buying strength after Wednesday’s solid gains.
U.S. Consumer Price Index Falls 0.2% in September
Consumer prices in the U.S. fell in September by a seasonally adjusted 0.2%, the Labor Department said Thursday.
Read moreStrength In Gold A Feature In The Market Place This Week
A feature in the marketplace this week has been the recent strong rally in gold prices, which hit a 3.5-month high Wednesday.
Read moreThe 6PM Recap With Gary Wagner: As Fed Beige Book Disappoints Markets Realize There is Nothing There
The Fed national Beige Book was released today and the data within reinforced what shrewd analysts have been saying all along. The US economy is not going anywhere until it gets some real inflation fires stoked.
Read moreFed Beige Book Reports Modest Economic Growth
(Kitco News) – According to anecdotal evidence from the Federal Reserve’s Beige Book, the U.S. economy saw moderat growth between mid-August to early-October
Gold Rallies to 3.5-Month High on Weak U.S. Data, Bullish Charts, Slumping U.S. Dollar
Gold prices ended the U.S. day session higher and scored a 3.5-month high Wednesday.
Read moreMore Market Turmoil As Fed Experiment Ends Badly Will Drive Gold Higher – Tocqueville
In the third quarter, investors got a glimpse of the market turmoil that is needed to sustain higher gold prices and according to one gold fund manager shifting investor sentiment will continue to support gold in the near-term.
Read moreImproving Sentiment Helping Gold Market But Don’t Rule Out December Rate Hike – ANZ
Although one international bank is not completely convinced that a December rate hike is out of the question, it has raised gold and silver forecasts on shifting market sentiment.
Read moreGold Could Benefit As Markets Are Desperate For Leadership – Axel Merk
One fund manager continues to favor gold as U.S. financial markets, desperate for leadership, dictate monetary policy to the U.S. Federal Reserve.
Read moreEndeavour Mining: 3Q Production ‘At The High End Of Production Guidance’
Officials with Endeavour Mining Corp. (TSX: EDV; ASX: EVR; OTCQX: EDVMF) report gold production of 124,893 ounces during the third quarter and output for the first nine months of the year totaling 379,802 ounces.
Read more