Philly Fed Plunges to 6.3
On Thursday the Philadelphia Fed’s manufacturing business outlook survey reported a 18 point decline in its index, falling to a reading of 6.3 in January, down from December’s revised reading of 24.3, marking its lowest level since Feb. 2014.
‘Carnage’ In Financial Markets Boosts Gold As Safe-Haven Asset
(Kitco News) – Gold prices continued to show its safe-haven appealas the Swiss National Bank unleashed, what one analyst described as, “carnage” in the marketplace.
Empire State Manufacturing Index Turns Positive At 10.0 In January
(Kitco News) -Following a negative reading in December, the Empire State Manufacturing Survey climbed eleven points in January, showing an improvement in business activity for New York manufacturers.
Gold Solidly Higher, at 4-Mo. High, in Wake of Surprising SNB Move
Safe-haven demand is again the feature in the gold market Thursday, as prices hit a four-month high in the wake of the surprising news the Swiss National Bank abruptly abandoned the Swiss franc’s peg to the Euro currency.
U.S. Producer Prices Fall 0.3% In December
(Kitco News) – Lower oil prices continued to reduce pipeline inflation pressures last month, according to the latest data from the U.S. Department of Labor.
Read moreGyrations
Gold found some upside impetus early in the day before falling. It bounced up to 1245 before settling down for a small loss during afternoon trading. Silver prices were hit by a round of profit-taking only a day after gold experienced the same impuls…
Read more2015 Will Be Good Year For Gold, Not For Equities – Veteran Trend Forecaster
(Kitco News) – This may prove to be a good year for gold while not so good for the equity markets, said this 35-year veteran trend forecaster, adding that the metal should currently be trading at least 60% higher.
Read moreU.S. House Eases Bank, Wall Street Rules
WASHINGTON (AP) — The House voted Wednesday to ease the landmark law reining in banks and Wall Street, advancing a key Republican priority more than six years after a financial crisis brought on the Great Recession.
Fed Survey Finds Moderate Economic Growth
WASHINGTON (AP) — The Federal Reserve says the U.S. economy was growing at a moderate pace in December and early January, helped by gains in sales of autos and other consumer products, increased factory production and a pickup in tourism in various parts of the country.
Gold Posts Modest Gains on More Safe-Haven Demand and Chart-Based Buying
Gold prices ended the U.S. day session modestly higher and closed at an 11-week high close Wednesday. A downbeat U.S. economic report and a stock market sell-off prompted safe-haven buying interest in gold. A weaker U.S. dollar index on this day was a…
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