Markets On Hold Overnight, Awaiting US GDP Report
Kitco News – Gold, silver and many markets are in a holding pattern as traders and investors are awaiting the revised U.S. first-quarter gross domestic product report due out this morning. Forecasts are calling for the GDP number to be down 1.0%.
The initial reading was up 0.2%. Many believe the anemic first-quarter U.S. economic growth was an anomaly and that growth picked up significantly in the second quarter.
The 6PM Recap With Gary Wagner: Dollar Comes To Aid Gold But Traders Must Be Doubters And Try To Drive Metal Down
The dollar retreated against the euro today, giving gold an almost $2.00 head start. Investors and traders, however, tripped up the yellow precious metal, so instead gold is up only 20 cents in late afternoon trading.
Read moreRCM Sees Increase In Gold, Silver Bullion Sales But Lower Revenues In Q1
The Royal Canadian Mint (RCM) continued to see strong demand for its gold and silver bullion products despite a drop in revenue in the first quarter of the year.
Read moreGold Ends Slightly Up on Short Covering, Weaker USDX
Gold prices ended the U.S. day session with slight gains Thursday.
Read moreCanadian Mining Eye Index Down; More Challenges Ahead For Miners – EY
Ernst & Young’s Canadian Mining Eye index reported a 1% decline during the first quarter three months of 2015, but it was a quarter-over-quarter improvement from the 12% drop during seen in 2014’s fourth quarter.
Gold Still Looks Good In Environment Of Systemic Instability – Merk
One fund manager said that gold still represents the easiest insurance vehicle to protect your portfolio in an environment of growing political and economic instability because of poor fiscal policies.
Read moreAustrian Central Bank To Repatriate Gold From London; Not Related To Potential Brexit
The Austrian Central Bank, Oesterreichische Nationalbank (OeNB), is the latest to jump into the gold market, releasing plans to repatriate its gold from London.
Read moreGold Softens as U.S. Dollar Index Pushes Higher
Gold prices are trading modestly lower and near the daily low in late-morning dealings Thursday.
Read moreU.S. Pending Home Sales Rise 3.4% In April, Hit 9-Year High
(Kitco News) – The number of consumers who started the process of buying a home increased in April, rising for the fourth consecutive month, according to the latest data from the National Association of Realtors (NAR).
Read moreU.S. Weekly Jobless Claims Rises To 282K
First-time weekly jobless claims in the U.S. rose by 7,000
claims to a seasonally adjusted 282,000 during the week to Saturday, the Labor
Department said Thursday.
