CFTC Data Show Funds Still Adding Short Positions; Analysts See Short-Covering Potential
Large speculators continued adding bearish bets in gold futures during the most reporting period for government data, although the big rise in these so-called short positions over the last month means potential for a bounce in price whenever these trad…
Read moreDon’t Expected Yuan To Be the New Reserve Currency After Being Added To IMF’s SDR basket – Analysts
(Kitco News) – Economists and analysts are not expecting the Chinese yuan to be adopted as a reserve currency by global central banks any time soon even though the currency scored a victory from the International Monetary Fund Monday.
Read moreU.S. ISM Manufacturing Index Falls To 48.6% In November, First Contraction In 36 Months
Kitco News reports on U.S. manufacturing ISM data for November
Read moreMorgan Stanley: Federal Reserve To Hike Rates At ‘Snail’s Pace’ In 2016
Morgan Stanley looks for the Federal Open Market Committee to hike U.S. interest rates at a “snail‘s pace.”
Barrick Completes Sale of 50% of Zaldívar Mine, Forms Partnership with Antofagasta
Barrick Gold Corp. (NYSE, TSX: ABX) reports that it has completed the previously announced sale of its 50% stake in the Zaldívar copper mine to Antofagasta Plc.
Nov. Gold Coin Sales Jump 185% M/M; Silver Coin Sales Break Record – U.S. Mint
After weaker sales in October, the U.S. Mint’s latest data show that both gold and silver coin sales were on the rise last month as metals prices hit multi-year lows.
Gold Modestly Up on Corrective Rebound from Recent 5.5-Year Low
Gold is experiencing a mild technical bounce early this week, following strong selling pressure recently that drove prices to a 5.5-year low late last week.
Read moreDownbeat Data From China; Upbeat Data From Euro Zone
Gold prices are firmer again today on more short Covering and bargain hunting.
Read moreThe 6PM Recap With Gary Wagner: A Few Changes But Nothing Of Note As U.S. Returns From A Long Holiday Weekend.
In spite of a rising U.S. dollar, gold, perhaps in a corrective mode after a month of losses, made some headway today. In this case, corrective would also mean tempting to bargain hunters.
Read moreConfessions of a Gold Analyst: Debunking The “Safe Haven” Myth
I am sure many of you watch commercials on television, or listen to metals “experts,” which propagate the common mantra that gold is a “safe haven.”