U.S. Flash PMI Falls To 56.2 In October
(Kitco News) – The U.S. manufacturing sector lost momentum in October, according to the latest Purchasing Managers Index data.
Read moreAbitibi Royalties Eyeing First Income Beginning In 2015 – Ian Ball
(Kitco News) – Quebec-based Abitibi Royalties Inc. (TSXV:RZZ) expects to begin receiving its first royalty income from the Canadian Malartic mine, located in northern Quebec, at the beginning of 2015.
CME Group Lowers Margins For Far Deferred Copper Futures
CME Group lowered margins for some far deferred copper futures contract months, which will be effective after the close of business Thursday, the exchange operator said in a late-Wednesday notice.
Read moreU.S. Weekly Jobless Claims Rise To 283K
(Kitco News) – First-time weekly jobless claims in the U.S. rose by 17,000 to a seasonally adjusted 283,000 during the week to Saturday, the Labor Department said Thursday.
Read moreGold Down Amid Better Risk Appetite This Week
(Kitco News) – Gold prices are moderately lower in early U.S. trading Thursday, on more profit taking from the shorter-term futures traders and on chart consolidation following recent gains.
Gold Is Undervalued – Ned Goodman
Ned Goodman, president and chief executive officer of Dundee Corp., believes gold is undervalued while equities are poised for a crash.
Read moreComex Gold Softens With Euro As Markets Anticipate Further ECB Measures
(Kitco News) – Gold futures lost ground along with the euro Wednesday on ideas that the European Central Bank might undertake more measures to loosen monetary policy, traders said.
Read moreSilver-Market Manipulator Nelson Bunker Hunt Dies At 88; Two Traders Look Back
Nelson Bunker Hunt, one of the two Hunt brothers who tried to corner the silver market between 1979-80, died Tuesday at age 88, according to the Associated Press.
Read moreSilver Institute: Investors May Accumulate 1 Billion Ounces Of Silver In Next Decade
Investors may increase their net silver purchases by as much as 1 billion additional ounces in various investment instruments over the next decade, says a report issued by The Silver Institute. This would be on top of more than 860 million purchased as an investment since 2006, the report says. The report was produced by the consultancy CPM Group. The dollar value of the silver market, which includes trading volumes on the major futures and options exchanges and clearing volumes of the London over –the-counter market, combined with newly refined silver supply, stood at $5.1 billion in 2013, the report says. At the close of 2013, at least 2.3 billion ounces of silver were held in bars and coins around the world, according to the report. “Even in these days of precious metal price volatility, we are seeing areas of growth within the silver investment arena,” says Michael DiRienzo, executive director of the Silver Institute. “This year’s progression in silver exchange-traded funds, for example, suggests that investors are very keen to acquire and hold the white metal.”
First Poll Shows ‘Yes’ Side has Upper Hand Ahead Of Swiss Gold Referendum
(Kitco News) – A slim majority of Swiss citizens said they would vote yes to force the Swiss National Bank to increase and hold on to their gold reserves, according to the country’s first opinion poll.