U.S. Weekly Jobless Claims Fall To 283K
(Kitco News) – First-time weekly jobless claims in the U.S. fell by 21,000 to a seasonally adjusted 283,000 during the week to Saturday, the Labor Department said Thursday.
Read moreGold Solidly Higher on Bargain Hunting, Short Covering in Wake of Dovish FOMC Minutes
Gold prices are posting good gains in early U.S. trading Thursday.
Read moreThe Pound And The Fed
The surprise winner today in the markets was – drum roll – Great Britain
Coeur Mining Reports 4Q Loss On Impairment Charge
(Kitco News) – Coeur Mining Inc. (NYSE:CDE) reported a net loss of $1.079 billion in the fourth quarter, or $10.53 per share, largely due to an after-tax non-cash impairment charge of $1.022 billion.
Read moreInvestor Demand For Gold Remains Key Ingredient For Bull Market – BofA Merrill Lynch
As gold prices fell below key support levels this week, Bank of America Merrill Lynch (BAML) said that investor demand, especially in jewelry, remains the critical ingredient for a gold bull market.
Read moreGold Moves Well Up from Daily Low Following Dovish FOMC Minutes
Gold prices moved well up from lower levels, on short covering and bargain hunting, in the aftermath of Wednesday afternoon’s release of the FOMC minutes, which the market place deemed a bit dovish.
Paulson Holds On To GLD Position In 4Q – SEC Filings
Although there appears to be some profit taking in gold-backed exchange-traded products (ETP), one major investor is holding on to his position.
Read moreTSXV Financing Activity Up In January – Morgans
Toronto stock exchange financing activity was up in January, showing more action for the heavily weighted resource exploration companies, according to Australian-based research firm Morgans.
Read moreBMO: Gold Can Move Higher Against Euro But Not USD
Gold priced in euros has the potential to move higher as central banks throughout the region introduce negative interest rates, says Jessica Fung, commodity analyst at BMO Capital markets. However, gold in U.S. dollars will continue to struggle as the U.S. economy continues to improve, she adds. “There is little potential for significant upside in gold prices as long as there is a consensus expectation that an economic recovery is on the horizon, no matter how slow,” she says. “Though the timing of the Fed rate hike could get pushed out further, BMO Research expects gold prices [in dollars] to trade sideways to down so long as markets continue to anticipate a rate hike at all.”
“This Period Of Low Prices Where You Get The Most Bang For The Buck” – Hecla CEO
(Kitco News) – Hecla Mining Co. (NYSE:HL) has no problem reinvesting in their mines and a company executive believes this is the best time to it.
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