U.S. Weekly Jobless Claims Fall To 289K
(Kitco News) – After coming in much higher than economists’ expectations last week, first-time weekly jobless claims in the U.S. fell by 36,000 to a seasonally adjusted 289,000 during the week to Saturday, the Labor Department said Thursday.
U.S. Advance Retail Sales Fall 0.6% In February
(Kitco News) – Despite strong optimism and weaker oil prices, U.S. consumers held on to their cash last month, buying fewer products, according to the latest data from the U.S. Census Bureau.
Read moreGold Up On Corrective Bounce, Weaker U.S. Dollar Index
(Kitco News) – Gold prices are moderately higher in early U.S. trading Thursday, supported by some bargain hunting in the cash market and short covering in the futures, after prices Wednesday scored a 3.5-month low.
The 6PM Recap With Gary Wagner: Relentless Dollar Rise Squashes Gold Again
As Bob Dylan said, “You don’t need a weatherman to know which way the wind blows.” Indeed, you don’t need to be an expert to understand why gold prices are being pushed down today (or yesterday, or the previous days).
Gold Down, Sinks to 3.5-Month Low, as U.S. Dollar Powers Still Higher
Gold prices were moderately lower and hit a fresh 3.5-month low during U.S. trading Wednesday. The very strong rally in the U.S. dollar index continues to cast a bearish pall over the precious metals markets. April Comex gold was last down $10.50 at $…
Read moreCan Silver Help You Save On Your Energy Bill?
(Kitco News) – Although there was no “polar vortex” in 2015, this winter has seen some brutal weather with snow and record-low temperatures battering the mid-west and north-eastern part of the U.S.
Weak Zirconium Demand Depleting Hafnium Stock Piles
Hafnium, an unknown-to-mainstream metal, has seen sharp price increases, rising from about $500-600 per kg last year to its current price around $1,000 as stock piles continue to be depleted.
Read moreIf You Want A Rainbow, You Gotta Put Up With Rain – TD Securities
As gold continues to suffer amid a strong U.S. dollar rally and chatter of Federal Reserve rate hikes, TD Securities says the metal is fully in a “rain” period but hopeful for a “rainbow to emerge soon.” “Today was the lowest PM fix since Nov 2014 and it seems very likely gold now targets $1130 and then $1100,” says Steve Scacalossi, head of sales of global metals at the bank. “The shorts are in full command with little reason for a rally other than the usual dovish Fed inspired short covering rally,” he adds. However, it is not all bad news for the metal as Scacalossi says Asian demand has been strong and physical bars are starting to move again in the region. “Gold now needs to form a convincing base to see a rebound.”
Gold Hovers Near 3.5-Mo. Low as Surging U.S. Dollar Keeps Buyers Scarce
(Kitco News) – Gold prices are modestly lower and holding just above Tuesday’s 3.5-month low in early U.S. trading Wednesday. The powerful rally in the U.S. dollar index continues to cast a bearish pall over the precious metal.