Traders, Analysts Look Back As CME Plans To Close Most Trading Pits
(Kitco News) – Nostalgia is strong throughout financial markets Thursday as traders react to news that CME Group will close most open outcry trading floors in Chicago and New York on July 2.
Read moreCenterra, Premier Gold Partner Up On Trans-Canada Property
Centerra Gold Inc. (TSX:CG) and Premier Gold Mines Ltd. (TSX:PG) have formed a 50/50 partnership agreement to develop Premier Gold’s Trans-Canada Property, located in the Geraldton-Beardmore Greenstone Belt in Ontario.
Carlisle Goldfields’ Lynn Lake Gold Camp Still Has Room To Grow
(Kitco News) – Carlisle Goldfields Ltd. (TSX:CGJ) will be working on developing, and exploring, its Lynn Lake gold camp in 2015, potentially adding to a positive optimized Preliminary Economic Assessment (PEA) is very possible, said a company executive.
Read moreWhat You Need To Know About The ECB Decision: BBH
(Kitco News) – The European Central Bank (ECB) has taken a strong stand in potential negotiations with Greece as the country tries to renegotiate the repayment of its bailout loans and austerity measures.
U.S. Weekly Jobless Claims RiseTo 278K
(Kitco News) – First-time weekly jobless claims in the U.S. rose by 11,000 to a seasonally adjusted 278,000 during the week to Saturday, the Labor Department said Thursday
Read moreGold Weaker; Trading Choppy as U.S. Jobs Data Approaches
(Kitco News) – Gold prices are not straying too far from unchanged levels in early U.S. trading Thursday.
Read moreThe 6 PM Recap With Gary Wagner: No Lid Yet On Volatility
There’s nothing like scads of excess supply to drive down the price of a commodity. That’s what happened today when it was revealed that there were record stockpiles of crude oil.
Gold Focused On Central Banks, Not Oil – Triland Metals
Gold’s attention has been focused on central banks’ easing policies, rather than the inflationary or deflationary issues surrounding weaker oil prices, say analysts at Triland Metals. “[T]he short-term oversupply [in oil] will seemingly continue and the bounce in prices could be premature…what does this mean for precious metals? Not a great deal actually,” they say. The analysts note that, given recent investor flows, a positive sentiment has manifested itself into the gold market and dips are being bought for the first time since 2012, which could explain why the metal is struggling to breach resistance. “Last week’s commitment of traders report also shows another 13% increase in net gold positioning – which may help to explain some of the offloading we saw ahead of $1,300,” they add.
Yes She’s Pretty. Yes, She’s Running For Poland’s Presidential Seat
(Kitco News) – Magdalena Ogorek is raising a few eyebrows. A former television presenter with striking good looks, Ogorek was selected to represent the Polish social democrats in the May 10 election.
Read moreGold Firmer As Trading Turns Choppy; Focus on U.S. Jobs Report Friday
Gold prices ended the U.S. day session modestly higher Wednesday. Prices saw a corrective bounce from selling pressure Tuesday. Backing and filling on the charts has been featured recently, to produce choppy price action. Gold bulls were impressed Wednesday that their metal is posted gains despite “outside markets” that were in a bearish posture—a higher U.S. dollar index and sharply lower crude oil prices. April Comex gold was last up $4.90 at $1,265.20 an ounce. March Comex silver last traded up $0.084 at $17.405 an ounce.