Latest News

U.S. Pending Home Sales Fall 1.1% In October

(Kitco News) – The number of consumers who started the process of buying a home decreased in October, according to the latest data from the National Association of Realtors.

Silver Coins, Small Gold Coins Are Popular Items For Holiday Gift-Gifting This Year

Holiday shopping is ready to get into full gear and coin dealers say numismatic silver coins and smaller gold coins are among top gift items.

Chicago PMI Declines To 60.8 In November From 66.2 In October

The headline index for the Chicago Business Barometer, widely known as the Chicago Purchasing Managers Index, fell by 5.4 points in November to a reading of 60.8, according to a report released Wednesday.

The index had stood at 66.2 in October, when it rose 5.7 points to its best reading of the year on the strength of a double-digit gain in new orders.

Consensus estimates compiled by various news organizations called for the November headline index to come in around 63 to 63.2. The Chicago report tends to be watched closely as a sign of strength in the Midwestern manufacturing sector and as a possible precursor to the Institute for Supply Management’s PMI for the entire nation, which is scheduled for release on Monday.

Readings above 50 in such diffusion indexes are seen as a sign of economic growth, and vice-versa. The farther an indicator is above or below 50, the greater or smaller the rate of change.

U.S. Weekly Jobless Claims Jump By 21,000 To 313,000

First-time weekly jobless claims in the U.S. jumped by 21,000 to a seasonally adjusted 313,000 during the week to Saturday, the Labor Department said Wednesday.

The tally was at far above of the range of consensus expectations compiled by various news organizations for new claims of somewhere between 280,000 and 295,000.

The government revised the prior week’s tally for initial jobless claims to 292,000 from the originally reported 291,000.

Meanwhile, the four-week moving average for new claims – often viewed as a more reliable measure of the labor market since it smoothens out week-to-week volatility – was up by 6,250 claims to 294,000.

Continuing claims decreased by 17,000 to a seasonally adjusted 2.32 million in the week ended Nov. 15.

There were no special factors impacting this week’s initial claim, the Labor Department said.

U.S. Durable Goods Orders Rise 0.4% In October, Analysts Say Details Reveal Weak Report

(Kitco News) – The U.S. economy found some momentum in October, reversing some of the losses reported in September, as the Department of Commerce reported a rise in durable goods orders Wednesday.

Gold Weaker on Lack of Bullish News, Chart Consolidation

Gold prices are again slightly lower in early U.S. trading Wednesday. A dearth of bullish fundamental news recently, a strong U.S. dollar and a bearish chart posture are keeping gold prices on the defensive. Some chart consolidation is also evident th…

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.

The 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.