Real Life Monuments Men? Treasure Hunters Believed To Have Found Lost Nazi Gold
After decades of mystery and intrigue, two treasure hunters are making headlines around the world as they are claiming to have found a ghost train carrying lost Nazi gold.
Read moreCommodity Slump Not Necessarily Signaling Recession – Capital Economics
As the commodity price slump continues, one UK-research firm is comparing it to the declines last seen during the 2008-09 financial crisis.
Expect Selling In Gold To Overcome Shorter Term Bid – Triland Metals
The dovish tone to the FOMC minutes on Wednesday was enough to push gold prices back to the March lows, but prices still need to push higher to signal that a bottom has been made in the yellow metal, says Ole Hansen, head of Commodity strategy at Saxo Bank. Thursday morning, Comex December gold futures hit a high of $1,151.70 an ounce. “If gold can make it back above $1,157 you can start to argue that we have seen the bottom in the market,” he said in a video market update on tradingfloor.com. “But for that to happen we need to see further U.S. dollar weakness and continued weakness in equities.” Finally, Hansen added that it will be important to see on Friday, how much of this rally is related to short covering and how much is from new investors.
Thursday’s Charts for Gold, Silver and Platinum and Palladium, August 20
Get the Big Picture view on gold, silver and other precious metals markets with Kitco Senior Analyst. With thorough analysis, get a sense of today’s market as well as where it may be heading. Be in the lead.
Read morePhilly Fed Manufacturing Index Rises To 8.3 In August
The headline index for the survey of manufacturing from the Philadelphia area strengthened in August, beating expectations, according to the Philadelphia Federal Reserve.
Read moreJuly Existing Home Sales Rise 2% in July
(Kitco News) – U.S. existing home sales rose last month, adding to the gains from the previous month, according to the latest data from the National Association of Realtors (NAR).
Read moreGold Extends Early Gains to Trade Solidly Up; Stock Mkt Sell-Off Sparks Safe-Haven Demand
Gold prices are sharply higher and trading at a four-week high in mid-morning dealings Thursday.
Read moreGold Market Makes Gains On Dovish Minutes But Can The Rally Last?
(Kitco News) – The gold market continues to hold on to most of its gains after Wednesday’s minutes of the July Federal Open Market Committee (FOMC) but the outlook among commodity analysts is mixed to whether or not prices can continue to push higher.
U.S. Weekly Jobless Claims Rise to 277K
(Kitco News) – First-time weekly jobless claims in the U.S. rose by 4,000 to a seasonally adjusted 277,000 during the week to Saturday, the Labor Department said Thursday.
Gold Hits 5-Week High on Safe-Haven Demand Amid World Stock Market Sell-Off
Gold prices are moderately higher and scored a four-week high in early U.S. trading Thursday.
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