Subdued, Cautious Tone Prevails At LBMA Conference
A subdued, cautious tone prevailed at last week’s London Bullion Market Conference, several attendees said, with the forecast for precious metals prices in October 2015 to be near current levels to slightly higher.
Remaining Investment In Gold ETFs Thought To Be ‘Stickier’ Than Years Past
Withdrawals from global exchange-traded funds have been blamed for accelerating the slide in gold prices during the past couple of years, but there is a notion in the marketplace that the investment now remaining in the ETFs is probably “stickier” and investors have more of a long-term view.
Indian Government May Restrict Gold Imports – Commerzbank
India’s Ministry of Finance may announce measures to restrict gold imports, possibly as early as Tuesday, says Commerzbank. Citing industry sources, the bank says the Reserve Bank of India is strongly supportive of new import restrictions following news that the value of gold imports in October soared by 280% year-on-year to $4.2 billion. “That said, this is partly due to a base effect. Any further limitation of gold imports would probably also lead to increased smuggling, which cannot be the Indian government’s intention. In addition, Indian jewelry retailers could increasingly resort to silver,” Commerzbank says.
Inflation Continues To Grow As U.S. Producer Prices Rise 0.2% In October
(Kitco News) – Pipeline inflation pressures rose in October, reversing Septembers’ drop, according to data from the U.S. Labor Department.
Gold Hits 3-Week High On More Short Covering, Weaker U.S. Dollar
(Kitco News) – Gold prices are posting decent gains and hit a three-week high in early U.S. trading Tuesday. Prices pushed above $1,200.00 in overnight dealings.
The 6 P.M. Recap With Gary Wagner: Traders Say Yes, Dollar Says No
Gold rose at the hands of traders and investors early in the day, until they eased up and a stronger dollar weighed on gold prices.
Read moreGold Ends Weaker on Corrective Pullback and Strong U.S. Dollar
Gold prices ended the U.S. day session steady to slightly lower Monday, on a corrective pullback from good gains posted last Friday. A stronger U.S. dollar index Monday also squelched the gold and silver market bulls. Still, the solid upside price act…
Read moreSolar-Powered Roads Are Closer Than We Think
It appears that solar-powered roads are becoming a reality after all.
Read moreLarge Speculators Continue To Cut Bullish Gold Holdings – CFTC
Large speculators continued to cut their bullish Comex gold futures and options holdings, building on momentum seen in the previous report, according to the latest Commodity Futures Trading Commission weekly data.
Read moreBAML: Gold Prices Mean ‘Severe Margin Compression’ For Producers
Gold prices below $1,200 an ounce have led to “severe margin compression” for gold-mining companies, says Bank of America Merrill Lynch. The bank says current “macro-economic dynamics” could mean further pressure on gold, although it also doubts the “status quo” will be maintained and would not be surprised if at some point gold began pricing in a somewhat less hawkish Federal Reserve. Meanwhile, BAML reports on some of the sentiment from the London Bullion Market Association gathering in Peru last week. “With gold prices falling below $1,200/oz, miners highlighted severe margin compression,” BAML says. “This has increased the focus on maximizing operational efficiencies. For multi-mine producers, this can include shuttering higher cost operations; re-negotiation of contracts is another avenues pursued. Scrap supply has also fallen in reaction to declining prices, highlighting that automatic stabilizers are at work, although these have not been sufficient to stabilize gold prices for now given the acute lack of investor interest.”