Large Speculators Build Bullish Gold Positions For Second Week In Latest CFTC Data
For the second straight week, large speculators added to their bullish Comex gold futures and options holdings as prices rose during the timeframe covered by the Commodity Futures Trading Commission weekly data.
Read moreCopper-Mine Strikes May Give Little Price Support – BMO
There are two copper-mine strikes, at Antamina and Grasberg, but the impact on prices may just be negligible, says BMO Capital Markets Research. Through year end, about 84,000 tons of mined copper supply may be removed if no inventories are processed or shipped and the Antamina strike continues through Dec. 31, the bank says. “This 84,000 ton figure is still less than BMO’s 180,000 ton ‘disruption’ estimate for (the fourth quarter), which suggests that another 100,000 of disruptions would have to occur before BMO’s market balance figure would lessen materially,” they say. The rise in copper prices is likely a knee-jerk reaction, although the bank adds copper prices are running below fundamentals. BMO estimates fourth-quarter prices at $3.10 a pound, versus the current December Comex price of $3.0605.
Monday’s Analytical Charts for Gold, Silver and Platinum and Palladium
Read moreMonday’s Forex Analytical Charts
Read moreGold Treads Water, Range Trade Seen Into Fed Meeting
(Kitco News) – Gold closed out last week on the defensive, with a lower weekly close. In the very short-term, heading into the U.S. Federal Open Market Committee (FOMC) policy statement on October 29, the yellow metal will likely chop around in a tight range. Let’s take a look at the key levels to monitor.
Gold Near Steady; Fresh Inputs Awaited
Gold prices are trading near unchanged in early U.S. dealings Monday.
Read moreGold Market Starts Week Struggling To Hold On To Recent Gains
(Kitco News) – The gold market is struggling to hold on to recent gains as prices recover from a soft open. So far the short-term outlook remains mixed as investors wait for the Federal Reserve’s monetary policy meeting.
Gold Heads Into Month End Watching FOMC, US Dollar
October so far as been a treat for gold bulls, with the market rising smartly off an early-month sell off, but the Federal Open Market Committee meeting and movements in the U.S. dollar will decide whether Halloween has any tricks for the yellow metal…
Read moreSilver Miners Staring Down The Barrel Of Heavy Cost Cutting – BMO Capital Markets
(Kitco News) – With silver prices tracking lower over the last 18 months, silver miners will need to cut costs as many companies are producing ounces above spot price.
Read moreSurvey Participants Lean Bearish Toward Gold Prices
Survey participants in the weekly Kitco News gold survey are nominally bearish on gold prices, although they don’t own the majority opinion as a fair number of respondents see prices trading sideways.