Fed Minutes Hint September Rate Hike Now Off Table, Gold Moves
Minutes of the Fedâ??s July policy meeting hinted that September will most likely be off-the-table for a rate hike. It showed that central bank officials were mixed on whether to raise short-term interest rates next month. This comes after months of signaling that they intend to move away from the near-zero interest-rate policy before year-end.
Gold Up, Hits 4-Week High, on Safe-Haven Demand; FOMC Minutes Get Mixed Reviews
Gold prices were moderately higher in afternoon trading Wednesday, in the wake of much-anticipated FOMC minutes that contained something for both the U.S. monetary policy hawks and the doves, but which moved gold prices only slightly higher. Gold scored a four-week high Wednesday on safe-haven demand amid market place worries about China’s stock market and financial system. December Comex gold was last up $12.60 at $1,129.80 an ounce. September Comex silver was last up $0.455 at $15.245 an ounce.
China’s Troubles Weighing On The Fed
(Kitco News) – China’s slowing economy and recent equity market meltdown is on the Fed’s radar.
Soros Really Likes Barrick Gold, Backs It With 1.9 Million Shares
Billionaire investor, George Soros apparently believes in goldâ??s rise. Last Friday, Reuters reported that a filing with the U.S. Securities and Exchange Commission, showed that Soros Fund Management LLC added a substantial stake in Barrick Gold Corp. (NYSE:ABX) during the second quarter.
Western Copper And Gold Looking Past Short-Term Volatility, Sees Long-Term Copper Supply Crunch
(Kitco News) – According to some analysts, without any new â??greenfieldâ? copper projects on line within the next five or six years, the market will experience a significant supply crunch.
Gold Firmer on More Modest Safe-Haven Demand
Gold prices are slightly higher in early U.S. trading Wednesday, on some more safe-haven buying interest amid trader and investor worries about China.
Read moreNewmarket Gold Announces Management Changes With COO Stepping Down
Newmarket Gold (TSX: NMI) says its Australian senior operating team will report directly to Douglas Forster, president and chief executive officer, starting in September after Rodney Lamond advised the company that he will be stepping down as chief op…
Read moreVote 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 moreGold Extends Early Gains, Hits 4-Week High, Ahead of FOMC Minutes
Gold prices are slightly higher in early U.S. trading Wednesday, on some more safe-haven buying interest amid trader and investor worries about China.
Read moreU.S. Consumer Prices Rise 0.1% in July; Core CPI Up 0.1%
Kitco News reports on U.S. Consumer Price Index for July
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