Gold Posting Sharp Rebound on Heavy Short Covering, Bargain Hunting, Weaker U.S. Dollar
Gold prices are posting good gains in mid-morning trading Monday. The market is seeing a short-covering and bargain-hunting bounce after prices were sharply lower and hit a three-week low in overnight trading. A weaker U.S.
dollar and modestly firmer …
Technical Trading: Gold Buyers Emerge, November Low Holds For Now
Dec 1 —Gold buyers swooped in to scoop up bargain pricing amid overnight weakness in the yellow metal and the market is now showing solid gains in early morning trading. Comex February gold futures fell to an intraday low at $1,141.70 Monday and have rebounded as high as $1,187.90 per ounce. The gold market approached, but did not test the November 7 low at $1,132, which is major support for the market. For now, that major support floor has held firm.
Citi Forecasts Average 2015 Gold Price Of $1,220/Oz, Silver $16.50/Oz
Citi Research forecasts 2015 gold prices to average $1,220 an ounce and silver prices to average $16.50 an ounce, saying they are neutral on the prices for those precious metals.
Read moreGold Rebounds from Sharp Sell-Off in Asian Trading
Gold futures prices are moderately higher and spot prices are moderately lower in early U.S. trading Monday. Prices have bounced well up from their overnight lows on short-covering and bargain hunting after hitting a three-week low in Asian trading. A…
Read moreGold Silver Prices Drop To Start The Week But Bottom Could Be Near
(Kitco News) – Analysts are not surprised that gold prices are starting the week on a soft note after Switzerland overwhelmingly rejected an initiative that would have boosted the Swiss National Bank’s gold reserves.
Switzerland’s Gold Referendum Fail Could Drag Gold Prices Lower
(Kitco News) – The “spectacular” fail of Switzerland’s gold referendum should help maintain gold’s current down trend, said one market analyst.
Kitco Readers Would Vote A Resounding Yes In Swiss Gold Referendum
(Kitco News) – If Kitco Readers had their way the Swiss National Bank would already be preparing to buy gold ahead of the official vote on Sunday.
Read moreGold To Start Week With Swiss Referendum, End With U.S. Payrolls
Gold trading next week will be bookended by a pair of major potentially market-moving news events – a Swiss gold referendum on Sunday and the monthly U.S. employment report on Friday.
LBMA: Ounces Of Gold Transferred In November Rises From October
(Kitco News) – The amount of gold transferred between accounts of London Bullion Market Association members rose from October to November but the amount of silver that exchanged hands fell, the organization reported Friday.
Read moreSurvey Participants Look For Lower Gold Prices Next Week
Most participants in Kitco News’ weekly gold survey said they look for softer prices next week since a Swiss gold referendum is expected to fail and the dollar has been strong while crude oil has been soft.