Gold Extends Early Gains, Sharply Higher and Hits 6-Week High
Gold prices are trading sharply higher and hit a six-week high in mid-morning dealings Tuesday. The precious metal has extended early solid gains. Safe-haven demand amid a world stock market sell-off and amid solid losses in the U.S. dollar index Tues…
Read moreMajors Are Driving Mining Exploration Budgets – SNL Metals & Mining
(Kitco News) – While the general ideology is that junior companies are responsible for a large part of exploration, a study by SNL Metals & Mining shows that major miners account for 40% of global exploration allocation.
Gold Sees Safe-Haven Demand as World Stock Markets Sell Off
Gold prices are solidly higher and have pushed well above the $1,200.00 level in early U.S. trading Tuesday.
Read moreCommerzbank: Central-Bank Actions Likely To Mean Physical Demand For Gold
The fundamental backdrop for palladium remains “exceedingly strong,” says Mitsubishi, and platinum is also showing signs of bouncing.
TDS Sees Gold, Silver Starting Softer In 2015 But Then Turning Higher
(Kitco News) – TD Securities looks for gold and silver to first weaken in 2015 due anticipation of higher real yields, a stronger U.S. dollar and expectations for Federal Reserve tightening, only to rebound again when policy-makers hike rates only slig…
Read moreThe 6 P.M. Recap With Gary Wagner: Oil, Unhinged
Oil continued to careen lower today, both WTI crude and Brent free falling around 4.25%. (Natural gas tumbled even more – 4.65%.) Oil-dependent nations that have been planning poorly are reeling, Venezuela and Russia among them.
Belgium Central Bank Looking At Repatriating Gold
(Kitco News) – The National Bank of Belgium is the latest central bank to show interest in repatriating its gold reserves.
Read moreGold Firmer on Short Covering, Chart Consolidation; Bulls Show Resilience
Gold ended the U.S. day session with modest price Monday. Short covering in the futures market and bargain hunting in the cash market were featured, along with some technical chart consolidation. The gold market Monday showed resilience in the face of bearish “outside markets” that saw the U.S. dollar index hit a four-year high overnight, while crude oil prices hit a five-year low during the U.S. trading session. February Comex gold was last up $3.90 at $1,194.30 an ounce. Spot gold was last up $1.70 at $1,195.40. March Comex silver last traded up $0.017 at $16.275 an ounce.
Short Covering Lifts Speculators’ Gold Holdings In Latest CFTC Data
Short covering lifted large speculators’ Comex gold futures and options holdings in the latest Commodity Futures Trading Commission weekly data, after a modest increase in gold prices in the timeframe covered by the report, which is for the week ending Dec. 2.
Gold Bulls Hang Tough, Despite Dollar
(Kitco News) – February Comex gold futures are moderately firmer in early New York trading action, despite overnight strength in the U.S. dollar. For now, gold bulls are hanging tough and limited chart damage was seen after Friday’s surprisingly strong U.S. non-farm payrolls report