Where In The World Did I Leave My Gold Coins?
With a happy ending to the story, one resident of St. Cloud, Minnesota has learned a valuable lesson about keeping track of her bullion coins.
Read moreThe 6 PM Recap With Gary Wagner: Having It Both Ways (Not!)
Third quarter U.S. GDP was revised upward to show that the economy expanded by 3.9%. Consumer sentiment, however, fell during November. These two data points seems to be contradictory, when in fact, behind the consumer’s thinking lies an unfortunate reality.
Gold Ends Near Steady In Lackluster, Pre-Holiday Trading
(Kitco News) – Gold prices ended the U.S. day session near unchanged Tuesday. Chart consolidation was a featured in a ho-hum trading session as it appears U.S. traders are focused upon the upcoming Thanksgiving holiday Thursday.
Fed Reforms Are Needed, Starting With New York – Former IMF Chief Economist
(Kitco News) – Federal Reserve governance is in need of major reform, and the New York may just be the best catalyst, said a former IMF chief economist.
Read moreU.S. Consumer Confidence FallsTo 88.7 In November
(Kitco News) – U.S. consumer confidence fell in November, retracing October’s strong positive sentiment, according to data from the U.S. Conference Board.
Gold Prices Recovery Mid Morning On Short Covering, Bargain Hunting
Gold market prices have pushed modestly above unchanged in mid-morning dealings Tuesday. Some short covering and bargain hunting are featured on the rebound. The U.S. dollar index is trading slightly lower and near its daily low, which is a mildly sho…
Read morePreliminary U.S. GDP Rises 3.9% In The Third Quarter
(Kitco News) – U.S. gross domestic product rose by a seasonally adjusted annual rate of 3.9% in the third quarter, the Commerce Department said on Tuesday in its second estimate on economic growth.
Gold Prices Steady-Weak; U.S. Data Awaited
Gold prices are steady to slightly lower in early U.S. trading Tuesday. Traders are awaiting fresh market inputs to drive prices, and a heavier slate of U.S. data Tuesday could move the markets. Still, the U.S. dollar index hovering near Monday’s four-year high continues to provide a bearish anchor for the precious metals. February Comex gold was last up $0.90 at $1,197.60 an ounce. Spot gold was last down $1.30 at $1,197.50. March Comex silver last traded up $0.20 at $16.635 an ounce.
HSBC: ‘Yes’ Swiss Vote Would Support Gold; ‘No’ Vote Neutral For Prices
A “yes” vote on an upcoming Swiss referendum would support gold prices while a “no” vote would be neutral, says HSBC. This weekend, Swiss voters go to the polls for a referendum that would mandate the Swiss National Bank hold 20% of its assets in gold, among other measures. Should it pass, the central bank would have to purchase 1,500 metric tons of gold over five years and this would “give bullion a significant morale boost,” HSBC says. The amount of gold would be roughly equivalent to all of China’s gold consumption in 2013, the bank adds. “The impact of a ‘yes’ vote could quickly translate into prices and take gold as much as USD50/oz higher, we believe,” the bank says. However, a “no” vote is broadly expected, based on polls, thus this outcome would be unlikely to significantly impact gold prices, HSBC says.
The 6 P.M. Recap With Gary Wagner: Certain Uncertainty
After trying to hold the $1200 level, gold has shied back and is hovering right below that psychological mark. The continued strength in equities has helped limit gold’s upside, although silver, due to industrial factors, found a tiny bit of power – well, a spark, is more like it.