Gold Weaker as Stock Markets Rebound and as U.S. Dollar Remains Strong
Gold prices are modestly lower in early U.S. trading Thursday
Read moreTug Of War
Imagine a game of tug of war but with four opposing forces, four ropes and an indecisive referee. That sums up what we experienced today.
Read moreIndian Gov’t Not Planning To Impose New Gold Import Restrictions
(Kitco News) – Gold will continue to flow into India unobstructed as a government minister said on Wednesday there are no plans to impose any new curbs to imports.
Read moreGold Weaker on Corrective Pullback, Strong U.S. Dollar
Gold prices ended the U.S. day session moderately lower Wednesday, on a profit-taking and technical pullback following gains that took prices to a three-week high on Tuesday. A sharply higher U.S. dollar index was also a negative outside market force …
Read moreDubai Claims New World Record With $6 Million 5.5km Gold Chain
(Kitco News) – As promised, Dubai has done it again! The Dubai Gold and Jewellery Group along with the Dubai Festivals and Retail Establishment have set a Guinness World Record for the longest hand-made gold chain.
Read moreBAML: Oil Prices Headed Lower In Q1
Oil prices appear to be finding some support Wednesday morning after dropping more than 9% since the start of the year; however, analysts at Bank of America Merrill Lynch expect prices to decline in the first quarter of 2015. “Investor index buying could provide some support in the next weeks, but physical oil supply is still outpacing demand. The term structure of oil continues to weaken and inventories keep piling up,” the analysts say. The bank adds that there are three scenarios that could shift the current down trend: decreased supply from non-OPEC nations, decreased output from OPEC or stronger global demand; however “at the moment, none of these seem to be materializing.” As of 10:35 a.m. EST, West Texas Intermediate crude oil was trading at $48.32 per barrel, up 39 cents or 0.81% on the day.
Gold Weaker On Downside Correction, Strong U.S. Dollar
(Kitco News) – Gold prices are moderately lower in early U.S. trading Wednesday, on a profit-taking and technical pullback following gains that took prices to a three-week high on Tuesday.
ADP Shows 241K Private Sector Jobs Created In December
(Kitco News) – U.S. companies significantly increased the pace of hiring in December, according to a report released by payrolls processor ADP Wednesday.
Fundamentals Out Of Focus
The precipitous drop in crude is being factored into the equities markets this afternoon, as we can see after prices in New York bounced off the day’s low.
CFTC: Gold, Silver Speculators End The Year Covering Shorts
(Kitco News) – Money managers boosted gold prices at the end of 2014 mostly by closing out their short positions according to data from the Commodity Futures Trading Commission.
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