Gold And Silver Not Benefiting From USD Weakness
(Kitco News) – Comments from Federal Reserve Chair Janet Yellen, describing equity market valuations as high has created some selling pressure in global stocks. Gold and silver prices are seeing some selling pressure once again. The bulls have to be disappointed; the recent weakness in the U.S. dollar has not been beneficial to those two markets.
Weaker Dollar Helps Gold But Traders Say Otherwise As Equities Plummet
Read moreGold Still Finding Support in Asia, Despite Higher Equity Markets – Triland Metal
Analysts at Triland Metals note that demand on Asian gold exchanges as been historically high and are wondering just who is buying all that gold as physical demand continues to help to support prices around the $1,175 area. “The larger investment community still seems to shun the precious metals complex in the face of buoyant stocks and low yields which is causing the gradual decline in prices in the medium term,” they say. “And yet there is definite support here…” Analysts add they expect gold to remain range bound around $1,200 an ounce in the face of impending rate hikes. As interest rates rise, they say that gold might start to attract more investment interest.
Gold Ends Weaker and Gets No Support from Some Bullish Elements
(Kitco News) – Gold prices ended the U.S. day session modestly lower Wednesday. A downbeat U.S. economic report and bullish “outside market” forces on this day could provide no upside support to gold and silver. The chart-based sellers continue to have the upper hand in both metals markets. June Comex gold was last down $2.90 at $1,190.30 an ounce. July Comex silver was last down $0.074 at $16.505 an ounce.
Higher Risk For Equities To Correct, Gold At Buy Point – RBC
(Kitco News) – Analysts have noted that the gold market has suffered because of lackluster investment demand, as investors shift away from precious metals and into higher yielding assets like equities.
Read moreRCM Sees Near-Record Profits In 2014, Record-Breaking Silver Sales
(Kitco News) – Despite lower revenues and lower precious metals prices, the Royal Canadian Mint (RCM) posted near-record profits last year, according to its latest annual report.
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Read moreGold Gets Slight Boost From Downbeat U.S. ADP Jobs Report
(Kitco News) – Gold prices are slightly higher in early U.S. trading Wednesday. Prices were modestly lower overnight but received a mild lift when the U.S. ADP national employment report for May came in at up 169,000, which is a miss to the downside.
ADP Shows 169K Private Sector Jobs Created In April
(Kitco News) – U.S. companies further slowed the pace of hiring in April, remaining falling wellow 200,000 for the second month, according to the latest employment data released by payrolls processor ADP Wednesday.
Read moreGold Market Needs Fresh Geopolitcal Uncertainty
(Kitco News) – Gold and silver prices are modestly lower, Wednesday morning. The bears remain in firm near-term technical control of both markets. What the gold market needs is a douse of fresh bullish geopolitical uncertainty.