Gold, silver gain on central banks buying gold, bullish charts
(Kitco News) – Gold and silver prices are higher and hit two-week highs in midday U.S. trading Thursday.
Read moreSpot gold trades above $3,385/oz after U.S. weekly jobless claims rise to 226k
(Kitco News) – Gold prices rose closer to session highs following the release of worse-than-expected labor market data after the number of Americans filing new claims for unemployment benefits was above economists’ forecasts.
Read morePrice gains for gold as China’s central bank stocking up
(Kitco News) – Gold and silver prices are higher and hit two-week highs in early U.S. trading Thursday. News that China’s central bank continues to add to its gold reserves and more bullish near-term technical postures in both gold and silver recently are supporting buying interest in the metals today. December gold was last up $20.00 at $3,453.50. September silver prices were last up $0.70 at $38.58.
Read moreBitcoin August 7 daily chart alert – Bulls working to stabilize market
(Kitco News) – Thursday, August 7—August bitcoin futures prices are firmer in early U.S. trading Thursday. Bulls have stabilized the market late this week and the fledgling price downtrend on the daily bar chart is now in some jeopardy.
Read moreGold market analysis for August 7 – 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.
Read moreXAU/GBP sells off after Bank of England cuts interest rates by 25 basis points
(Kitco News) – Gold is selling off against the sterling after the Bank of England lowered its benchmark interest rate.In a much-anticipated move, the BoE cut its Bank Rate by 25 basis points to 4.00% early Thursday morning. Five of nine Monetary Policy Committee members voted in favor of the cut, with the other four voting to leave the rate unchanged.The central bank said that it had room to cut rates as inflation has continued to fall.
Read moreGold and silver outlook remains supportive despite trade deals, ETP and futures see seasonal softness – StoneX’s O’Connell
(Kitco News) – While a number of preliminary trade tariff deals have taken some pressure off equities and other risk assets, and precious metals ETF and futures markets are quiet, gold and silver still enjoy key drivers and solid price support, according to Rhona O’Connell, StoneX Head of Market Analysis for EMEA & Asia.
Read moreForget the ‘secret plan’ to reset gold prices: U.S. can’t manipulate the market to its advantage – CPM Group’s Christian
(Kitco News) – The various schemes being floated in recent months about the United States government manipulating the gold price through massive buying or selling are illogical, unworkable, and self-defeating, and would bankrupt the Treasury without even solving the debt, according to Jeffrey Christian, Managing Partner of CPM Group.
Read moreGold erases early losses as bargain hunters once again buy the dip
(Kitco News) – Gold prices are trading around steady near midday Wednesday, while silver prices are modestly up. Some early profit-taking pressure was met by bullish gold traders buying the dip and doing some bargain buying.
Read moreAfrican central banks are accumulating gold and nationalizing mines, but the strategies are not without risk – Fitch Group
(Kitco News) – Central banks in sub-Saharan Africa are accelerating their gold purchases to hedge against the growing macro instability in the United States and rising geopolitical risks around the world.
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