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U.S. Weekly Jobless Claims Rises To 265K, Remain Near 15-Year Lows

(Kitco News) – First-time weekly jobless claims in the U.S. rose by 3,000 claims to a seasonally adjusted 265,000 during the week to Saturday, the Labor Department said Thursday.

Gold Weaker as Chart-Based Sellers in Control

Gold prices are moderately lower in early U.S. trading Wednesday. Amid a lack of fresh, bullish fundamental news, the technically oriented sellers are taking advantage of the bearish chart postures for gold and silver markets.

Gold And Silver Not Benefiting From USD Weakness

(Kitco News) – Comments from Federal Reserve Chair Janet Yellen, describing equity market valuations as high has created some selling pressure in global stocks. Gold and silver prices are seeing some selling pressure once again. The bulls have to be disappointed; the recent weakness in the U.S. dollar has not been beneficial to those two markets.

Weaker Dollar Helps Gold But Traders Say Otherwise As Equities Plummet

Gold Still Finding Support in Asia, Despite Higher Equity Markets – Triland Metal

Analysts at Triland Metals note that demand on Asian gold exchanges as been historically high and are wondering just who is buying all that gold as physical demand continues to help to support prices around the $1,175 area. “The larger investment community still seems to shun the precious metals complex in the face of buoyant stocks and low yields which is causing the gradual decline in prices in the medium term,” they say. “And yet there is definite support here…” Analysts add they expect gold to remain range bound around $1,200 an ounce in the face of impending rate hikes. As interest rates rise, they say that gold might start to attract more investment interest.

Gold Ends Weaker and Gets No Support from Some Bullish Elements

(Kitco News) – Gold prices ended the U.S. day session modestly lower Wednesday. A downbeat U.S. economic report and bullish “outside market” forces on this day could provide no upside support to gold and silver. The chart-based sellers continue to have the upper hand in both metals markets. June Comex gold was last down $2.90 at $1,190.30 an ounce. July Comex silver was last down $0.074 at $16.505 an ounce.

Higher Risk For Equities To Correct, Gold At Buy Point – RBC

(Kitco News) – Analysts have noted that the gold market has suffered because of lackluster investment demand, as investors shift away from precious metals and into higher yielding assets like equities.

RCM Sees Near-Record Profits In 2014, Record-Breaking Silver Sales

(Kitco News) – Despite lower revenues and lower precious metals prices, the Royal Canadian Mint (RCM) posted near-record profits last year, according to its latest annual report.

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Gold Gets Slight Boost From Downbeat U.S. ADP Jobs Report

(Kitco News) – Gold prices are slightly higher in early U.S. trading Wednesday. Prices were modestly lower overnight but received a mild lift when the U.S. ADP national employment report for May came in at up 169,000, which is a miss to the downside.