U.S. Consumer Confidence Rises To 101.3 In March
(Kitco News) – U.S. consumer confidence rose this month, reversing most fo the weakness reported in February, according to the latest data from the U.S. Conference Board.
Read moreChicago PMI Rises To 46.3 In March
(Kitco News) – The headline index for the Chicago Business Barometer, widely known as the Chicago Purchasing Managers Index, rose in March to a reading of 46.3, below expectations, according to a report released Tuesday.
Read moreGold Holding Up Better Than Base Metals – MKS
Although a stronger U.S. dollar is helping to keep gold prices below $1,200 an ounce, Alex Thorndike, senior precious metals dealer at MKS SA, said the yellow metal is still holding up relatively well compared to other commodities.
Read moreGold Near Steady as Stronger U.S. Dollar Limits Buying Interest
Gold prices trading not far from unchanged levels in early U.S. dealings Tuesday.
Read moreGold Faces More Headwinds Ahead Of Rate Hikes, But Close To Lows – IHS
U.S. interest rates are already at their lowest point so there is no place for them to go but up and that will create some headwinds for gold in the next six to nine months, according one economist.
Read moreGold Solidly Lower Amid Rallies in U.S. Dollar, World Stock Markets
Gold prices ended the U.S. day session lower Monday, pressured by good gains in the U.S. dollar index and by rallies in the competing asset class, the world equities markets. Lower crude oil prices were also an underlying negative for the precious met…
Read moreNatixis Sees Gold Averaging $1,150 An Ounce In 2015, Down 9.1% From 2014
The gold market is expected to continue to struggle in 2015 on the back of a surging U.S. dollar as the Federal Reserve prepares to normalize rates, a stark contrast to other major central banks, according to the latest research from Natixis.
Read moreGold Should Rally On Muted Fed Rate Hikes – BAML
Commodity analysts from Bank of American Merrill Lynch reiterate in a report Monday their call that gold will end the year around $1,300 an ounce. The biggest influence for the yellow metal will be the U.S. dollar and global interest rates. The Federal Reserve is the only major central bank in a position to raise rates, but there is some concerns what impact a strong U.S. dollar will have on the economy and equity markets. “We believe the Fed does not live in a vacuum and is not able to run a monetary policy that is completely independent from non-US monetary authorities. As such, we see a risk that rate hikes will only come through at a muted pace, which in turn would help gold,” they say. The analysts also note that there is a risk of coordinated efforts from central banks as they use foreign exchange markets as a monetary policy tool. They say there is a risk that central banks could create a Plaza Accord 2.0. The original Plaza Accord was made in 1985 between France, West Germany, Japan, and the UK to depreciate the U.S. dollar against those respective currencies. “While the macro-economic environment has been slightly different, it is worth remembering that gold rallied in the wake of the Plaza Accord,” they say.
Specs Increase Short Bets, Despite Gold’s Rally – CFTC
(Kitco News) – Portfolio managers continued to increase their short bets on gold, despite a five-day rally for the yellow metal, according to the latest trade data from the Commodity Futures Trading Commission (CFTC).
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