Triland: Resiliency Shows ‘Deep-Rooted Interest In Gold’
Gold might be under pressure with the broad commodity complex lately, but buying just ahead of $1,200 an ounce suggests a “deep-rooted interest” in the yellow metal, says Triland Metals. Commodity markets have been pressured lately, much of it due to a stronger U.S. dollar, the firm points out. “With the mood damp and sentiment weak, shorts are continually frustrated with buying that is supporting (gold) just ahead of the $1,200 number,” Triland says. “Even if this is the last few gasps of a bid before a move of despair below $1,180, the action over the last few weeks suggests a deep-rooted interest in gold over other commodities and there is a very simple reason why gold is tenaciously holding its ground – ever-expanding fiat currency balance sheets.”
Resilience Of US Stock Market Is Surprising – Aberdeen Asset Management
The Standard & Poor’s 500 stock index is up about 7% so far this year, and its resilience is surprising, said two fund managers for a Scottish investment firm.
RCM Unveils A Coin That Is Out Of This World
(Kitco News) – The Royal Canadian Mint is honoring Canadians who have boldly gone where no one has gone before.
Read moreGold Rallies Modestly on Short Covering, Bargain Hunting
Gold futures are seeing an upside corrective bounce in midday trading Wednesday. Short covering in the futures market and bargain hunting in the spot market are featured, to lift prices up from nine-month lows scored this week. The sell-off in the U.S…
Read moreWednesday’s Forex Analytical Charts
Read moreWednesday’s Analytical Charts for Gold, Silver and Platinum and Palladium
Read moreISM Manufacturing Index Falls To 56.6 In September
(Kitco News) – The U.S. manufacturing sector lost some ground in September, giving up some of the strong gains made in August, according to the latest data from the Institute for Supply Management.
Read moreCurrent Gold Price Levels Not Considered ‘Cheap,’ Further Losses Possible – Deutsche Bank
Gold prices are hovering in the low $1,200-an-ounce area, but current values may still be pricey compared to valuations against other physical and financial assets, said Deutsche Bank on Wednesday.
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