Philly Fed Manufacturing Index Falls To 5.0 In March
(Kitco News) -The headline index for a survey of manufacturers in the Philadelphia area weakened in March, the fourth consecutive decline, according to the latest report from the Philadelphia Federal Reserve.
Read moreSilver Wheaton Reports Lower 4Q, FY Profit; Production Slightly Lower
(Kitco News) – Silver Wheaton Corp. (TSX:SLW)(NYSE:SLW) reported net earnings of $52 million, or 14 cents per share, during the fourth quarter of 2014, compared to net earnings of $93.9 million, or 26 cents per share reported during the same quarter of…
Read moreU.S. Weekly Jobless Claims Rise To 291K
(Kitco News) – First-time weekly jobless claims in the U.S. rose by 1,000 to a seasonally adjusted 291,000 during the week to Saturday, the Labor Department said Thursday.
Read moreGold Up on Follow-Through Strength from Wednesday’s Rally
Gold prices are posting moderate follow-through gains from Wednesday’s Fed-inspired rally.
The 6PM Recap With Gary Wagner: Feel Free To Move About The Cabin
The Fed has (partially) spoken. The markets are reacting, and they like what they hear. In fact, the markets seem to have adjusted very quickly to the dropping of the word “patient” from FOMC language, an alteration to the text we predicted, as we did its replacement with similar verbiage.
If It Ain’t Broke, Don’t Fix It – Janet Yellen Commenting On “Audit The Fed”
At the Federal Open Market Committee (FOCMC) press conference Wednesday, Federal Reserve Chair Janet Yellen was asked her thoughts on the “Audit The Fed” bill, which she says may not be necessary. The bill, which has resurfaced in the headlines, looks to have Congress have a bigger role in reviewing the Fed’s structure as well as its policies. Answering the question, Yellen said she doesn’t see a need for changes to be made. “I believe the Fed is already one of the most transparent central banks of any around the globe,” she said. “I don’t think the system is broken, I think it’s working well,” she added. Although Yellen said that the Fed is prepared to offer Congress any information needed to evaluate the central bank’s decision making, she thinks it might be unwise. “To chain a central bank to follow a simple mathematical rule that fails to take account of many things that are very important in making monetary policy…. That would be a very foolish thing to do, and I oppose it,” she said.
Gold Surges As Fed Scales Back Expectations For Rate Hikes
(Kitco News) – Gold futures prices surged higher in electronic trading after the release of the latest Federal Open Market Committee (FOMC) statement on Wednesday. While the Fed did remove the word “patient” from its statement, analysts pointed to a bevy of other surprises which have sent the U.S. dollar tumbling and gold rising.
Gold Rallies in Wake of Dovish FOMC Statement
Gold is posting solid price gains in afternoon trading Wednesday, getting a good boost following an FOMC statement that the market place is initially deeming as surprisingly dovish. Short covering in the futures market and bargain hunting in the cash …
Read moreFederal Reserve No Longer ‘Patient’ On Interest Rates, Lowers Growth Forecasts
(Kitco News) – The Federal Open Market Committee (FOMC) will no longer remain “patient” on interest rates, according to the central bank’s monetary policy statement.
Kirkland Lake Gold To Keep Momentum Going; Eyes Organic Growth – CEO
(Kitco News) – Kirkland Lake Gold Inc. (TSX:KGI)(AIM:KGI) has been having a very good fiscal 2015 and a company executive said the foundation has been laid to take the next step.
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