Gold Weaker On Downside Correction, Strong U.S. Dollar
(Kitco News) – Gold prices are moderately lower in early U.S. trading Wednesday, on a profit-taking and technical pullback following gains that took prices to a three-week high on Tuesday.
ADP Shows 241K Private Sector Jobs Created In December
(Kitco News) – U.S. companies significantly increased the pace of hiring in December, according to a report released by payrolls processor ADP Wednesday.
Fundamentals Out Of Focus
The precipitous drop in crude is being factored into the equities markets this afternoon, as we can see after prices in New York bounced off the day’s low.
CFTC: Gold, Silver Speculators End The Year Covering Shorts
(Kitco News) – Money managers boosted gold prices at the end of 2014 mostly by closing out their short positions according to data from the Commodity Futures Trading Commission.
Read moreGold Up, Hits 3-Week High, Amid Safe-Haven Demand
Gold prices ended the U.S. day session higher and scored a three-week high Tuesday. Keener risk aversion in the market place early this week has prompted safe-haven demand for gold. Short covering in the futures market and bargain hunting in the cash …
Read moreGold Makes Significant Gains Against Euro In Safe Haven Play
Gold’s negative correlation against the U.S. dollar appears to be breaking down as Europeans, in particular, search for safe haven investments, but analysts are mixed as to whether this demand can drive the global gold market higher.
TD Securities: Be Careful Of Gold New Year Euphoria
Steve Scacalossi, director, head of sales, global metals at TD Securities, warns investors to not jump to quickly into the gold market based on its recent performance. “Having been out the past few days, the one thing that gets me nervous is everyone seems to have the same view – sell euro, sell equities, buy gold. So often the first move of the New Year is the wrong move,” he says. He adds that he expects prices trade within a range between $1,180 and $1,230 an ounce and that investors should wait to determine gold true direction.
CME Jumps Into Asian Market With 1-Kilo Physical Future Contract
(Kitco News) – Asia continues to show its growing dominance in the global gold marketplace as the CME Group launches a one-kilogram gold physical delivery futures contract for Hong Kong.
Read moreISM Non-Manufacturing Index Falls To 56.2 In December
(Kitco News) – The U.S. service sector lost some momentum in December, the Institute for Supply Management said Tuesday.
Read moreHSBC: Gold Benefitting From Weaker Equity Markets
Gold’s ability to shake off a weaker euro and oil prices could trigger more momentum-based buying says analysts from HSBC.
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