World Bank: Gold Prices To Head Lower In 2015, Find Support In ECB’s QE
Despite gold’s strength so far this year, the World Bank said it expects prices to see moderate declines in 2015.
How Best To Tackle Inequality & Create More Jobs – Davos Conference
According to the latest World Economic Forum press release, the International Monetary Fund said now is the time to redirect trillions of dollars worth of energy subsidies worldwide, especially given lower oil prices, towards job creation and education.
Read moreINTL FCStone: Greek Vote May Hurt Euro & Boost Gold
As markets await the Greek vote on Sunday, INTL FCStone says they are not making any changes to their short-term bullish stance on gold. “In terms of our outlook, the next ‘shoe to drop’ as far as the markets are concerned are the Greek elections taking place this weekend. At this point, the polls show the opposition Syriza party widening its lead to about 6% over the governing conservatives,” they say in a report on Friday. “Assuming they get in, we suspect that the Euro will likely open weaker again on Monday, helping gold in the process.” They add that they see the potential of more economic uncertainty and positive chart patterns, which provides a “constructive backdrop for further gains in gold.” The report notes that $1,320 and $1,350 an ounce price tag on gold are both “achievable upside targets” for the metal.
Alamos FY 2014 Gold Production, 2015 Guidance Disappoints – CIBC
Alamos Gold Inc.’s (TSX:AGI)(NYSE:AGI) 2014 production totals of 140,500 ounces of gold, which were below company guidance of 150,000 to 170,000 ounces of gold, and their 2015 production guidance of 150,000 to 170,000 ounces, at all-in sustaining costs of $1,100 per ounce, are both underwhelming, according to analysts at CIBC.
Analysts Mixed On Impact Greek Vote Will Have On Gold
(Kitco News) – According to analysts, all eyes will be on Europe this weekend as Greek citizens elect a new government on Sunday, which is creating some doubt regarding the European Union’s future.
ECB Did The Right Thing: Gartman
(Kitco News) – The decision by the European Central Bank (ECB) to launch a €60 billion per month quantitative easing package in Europe is a ‘landmark decision’ and ‘proper’, according to Dennis Gartman, famed economist and editor of the Gartman letter.
Gold Extends Losses as Profit Taking, Technical Correction Featured Heading Into Weekend
Gold prices have added to early losses to trade solidly lower in late-morning dealings Friday. Some more profit taking in the futures market and a corrective technical pullback from recent gains are evident in gold.
The strong rally in the U.S. dollar…
U.S. Existing Home Sales Rise 2.4% In December
After a much higher-than-expected pullback in November, existing home sales rose 2.4% in December to a seasonally adjusted and annualized rate of 5.04 million units, from a downwardly revised 4.92 million in November, the National Association of Realt…
Read moreU.S. Flash PMI Falls To 53.7 In January
(Kitco News) – The U.S. manufacturing sector continues to lose momentum in January, adding to softer numbers in December, according to the latest Purchasing Managers Index data.
Read moreGold Weaker On Corrective Pullback, Surging U.S. Dollar
Gold prices are modestly lower in early U.S. trading, pressured by some profit-taking pressure in the futures market following recent gains, and by the big rally in the U.S. dollar index, which hit a 12-year high overnight.
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