China expands global gold influence as Cambodia plans to store reserves in SGE vaults
(Kitco News) – China’s plan to expand its influence over global financial markets and gold appears to be working, as several nations have shown interest in storing their gold with the Shanghai Gold Exchange (SGE) as it expands its vaults offshore.
Read moreRon Paul: U.S. “totally bankrupt,” warns fed strategy “is to cause chaos”
(Kitco News) – Former U.S. Congressman Ron Paul declared the United States is “totally bankrupt morally and financially,” arguing in a wide-ranging interview with Kitco News that the nation’s $1.9 trillion deficit is a “debt spiral” that will be “paid …
Read moreGold sales hit three-year high in October, silver sales surge 83% in a month – Perth Mint
(Kitco News) – Sales of gold products reached their highest level in three years in October, while silver sales skyrocketed 83% from September to hit a two-year high, according to the Perth Mint.The latest data published on Wednesday show the Perth Mint’s sales of gold coins and minted bars rose to 85,603 ounces in October, up from 36,595 ounces in September. Year-over-year, sales were up approximately 186%.
Read moreHistory suggests gold has yet to peak, inflation could drive the next leg up – AJ Bell’s Mould
(Kitco News) – Gold is in the midst of its third major bull run since 1971, and the others also saw major pullbacks, but government debt, geopolitics, the dollar and inflation will likely push prices higher during the current cycle, according to Russ Mould, investment director at AJ Bell.
Read moreGold’s consolidation is a healthy pause before the next leg higher, says Sprott’s Ryan McIntyre
(Kitco News) – The gold market may be struggling with prices unable to break above $4,000 an ounce as momentum investors continue to take profits, but the conditions that drove prices to all-time record highs last month remain firmly in place, accordin…
Read moreSpot gold holds near $3,975/oz after ISM Services PMI rises to 52.4 in October
(Kitco News) – The U.S. service sector strengthened last month with business activity improving, but price pressures continued to tick higher and employment remained in contraction, according to the latest data from the Institute for Supply Management (ISM).The ISM announced on Wednesday morning that its Services Purchasing Managers Index rose to 52.4 in October, up from September’s reading of 50. The data was better than expected, as economists were looking for a reading of 50.8.
Read moreGold price carving a bottom as ADP says 42k jobs created in October
(Kitco News) – The gold market is holding its own even as the labor market appears to remain fairly resilient, with the private sector creating more jobs than expected in October.
Read moreGold price firmer as global stock markets a bit wobbly
(Kitco News) – Gold prices are modestly up and silver prices near steady in early U.S. trading Wednesday. Some safe-haven demand has surfaced at mid-week as the global stock markets are still a bit shaky amid ideas U.S. stocks are overvalued and that t…
Read moreBitcoin November 5 daily chart alert – Bears in technical control
(Kitco News) – Wednesday, November 5–November bitcoin futures prices are up a bit in early trading Wednesday but are not far above this week’s contract low.
Read moreGold market analysis for November 5 – key intra-day price entry levels for active traders
(Kitco News) – This 5-minute bar chart for Comex gold futures can be a valuable analytical and trading tool for the active intra-day gold futures trader/market watcher.
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