Gold Weaker on Corrective Pullback from This Week’s Good Gains; FOMC Deemed Slightly Hawkish
Gold prices were moderately lower late U.S. trading Wednesday. A technical correction from the solid gains posted Monday and Tuesday was featured today.
Read moreFederal Reserve Sees Slower Growth Transitory
(Kitco News) – The Federal Open Market Committee (FOMC) has become slightly more pessimistic on the U.S. economy as it now says economic growth has “as slowed” but added there were tansitory factors, compared to March’s statement where it said that growth had “moderated somewhat.”
‘Helicopter Ben’ Lands At PIMCO
(Kitco News) – Just over a year after stepping down as Fed Chair, Ben Bernanke is not having trouble finding new employment opportunities, especially on Wall Street.
Lake Shore Gold Puts Together Strong Q1
Lake Shore Gold Corp. (TSX:LSG)(NYSE MKT:LSG) reports net earnings of $12.1 million during the first three months of 2015, a sharp increase year-on-year.
Read moreGold Prices To See Less Volatility, Stay Near Current Levels – Barclays
According to Barclays latest commodities report, released Tuesday afternoon, gold prices are expected to stay near current levels with less volatility. “We expect the gold price to stay near current levels in a Fed-tightening cycle,” Barclays analysts note. “90% all-in cost of 1230$/oz and cash cost of 1000 $/oz acts as a floor for price,” they say, adding that ETP flows are slowing in both directions, which shows waning investor interest for the metal. The analysts say they expect gold to weaken this year setting their forecast at $1,190/oz for this quarter and at $1,170/oz by year-end.
Vote Now In The New Kitco Weekly Gold Survey
(Kitco News) – Kitco aficionados, it is now time to have your say in where you think gold prices are heading in the short-term.
U.S. Pending Home Sales Rise 1.1% In March
(Kitco News) – The number of consumers who started the process of buying a home increased in March, adding to strong gains seen in February, according to the latest data from the National Association of Realtors (NAR).
Read moreForeign Exchange Losses Sting Yamana Q1 Earnings
(Kitco News) – Yamana Gold Inc. (TSX:YRI)(NYSE:AUY) reported a net loss of $135.2 million, or 15 cents per share, during the first quarter of 2015 due primarily to non-cash foreign exchange charges.
Read moreSilver Prices Could Move Higher In Q4: CPM Group
New York – (Kitco News) – After silver bulls found some momentum with Monday’s big gains, negating a five-week-old downtrend, one research firm expects silver prices to consolidate this year.
Gold Weaker On Downside Correction from This Week’s Earlier Gains
(Kitco News) – Gold prices are modestly lower in early U.S. trading Wednesday. A technical correction from the solid gains posted Monday and Tuesday is featured today.
