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.
Gold Volatility Rises 12% As Market Liquidity Drops
The CBOE Gold Volatility Index (GVZ) has risen more than 11% since the start of the session Friday as market liquidity dries up, said analysts.
Read moreIndia Drops 80:20 Gold Import Restrictions
In a surprise move, the Indian government has removed restrictions on gold imports and although generally positive for the gold market, it won’t significantly change the overall bearish tone, according to some analysts.
Agnico Eagle Completes Cayden Resources Acquisition
Agnico Eagle Mines Ltd. (TSX:AEM)(NYSE:AEM) completed its 100% purchase of Cayden Resources, initially announced in early September for C$205 million.
Read moreGold Lower On Sharply Weaker Crude, Higher USD
(Kitco News) – Gold prices are solidly lower in early U.S. trading Friday. Plunging crude oil prices and a stronger U.S. dollar are bearish “outside market” forces working against the precious metals on this day.
Analysts: Gold, Other Metals Slump With Crude Oil
Gold has slumped to its lowest level in a week as crude oil hit a four-year low. “The gold price has temporarily fallen to a weekly low of around $1,180 per troy ounce this morning,” Commerzbank says.