The 6PM Recap With Gary Wagner: Plenty Of Pain To Go Around Gold, Stocks, Oil, Yields Are All Down
Traders, weighing up what tomorrow’s jobs report will bring in the U.S., were busy today squaring their positions. When in doubt, hedge. And there is plenty of doubt out there.
Russia To Boost Gold, Foreign Reserves To $500 Billion Over Next Few Years
(Kitco News) – The Russian central bank has been a major purchaser of gold bullion, and that trend does not appear to end any time soon.
Read moreGold Down, Hits 5-Week Low; Fear In Market Place, Weaker USDX No Help Today
Gold closed the U.S. day session lower and hit a five-week low Thursday.
Read moreGold Remains A Safe Haven Despite Lower Demand – UBS
Gold remains a strong safe-haven asset despite changing dynamics in the marketplace during the last 15 years, said UBS commodity strategist in a recent report.
Read morePlatinum To Outperform Gold – Natixis
Gold’s unusual reactions to moves in the dollar and the euro may suggest more downside for the metal, said analysts at HSBC in a research report Wednesday afternoon.
Nonfarm Payrolls Need To Be Very Bad To Drive Gold Higher – Analysts
It will take a horribly weaker than expected nonfarm payrolls report to help create lasting momentum in the gold market, as price have been trapping in a range, unable to hold gains above $1,200 an ounce, according to some analysts.
Read moreU.S. Weekly Jobless Claims Fall To 276K
First-time weekly jobless claims in the U.S. fell by 8,000
claims to a seasonally adjusted 276,000 during the week to Saturday, the Labor
Department said Thursday.
Downside Drift in Gold Continues
Gold is once again modestly lower in early U.S. trading Thursday.
Read moreFirst Majestic Silver CEO Dings CFTC On Silver Market Manipulation
Senior silver producer First Majestic Silver Corp.’s (TSX:FR)(NYSE:AG) Keith Neumeyer, president and chief executive officer, openly questioned the U.S. futures and options watchdog regarding silver market manipulation earlier this week.
U.S., German Bond Markets Roiled This Week
Gold And silver prices are slightly lower in early US trading today. The precious metals bulls are frustrated this week as their Markets are not seeing any positive benefit from the steep sell-off in the U.S. dollar index.
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