Gold Near Steady On Consolidation; FOMC On Deck
Gold prices are trading near unchanged levels in early U.S. dealings Tuesday.
Read moreBarrick Posts Lower Q1 Profit; Eyeing Growth In The Americas
(Kitco News) – Barrick Gold Corp. (NYSE:ABX)(TSX:ABX) reported first quarter 2015 net earnings of $57 million, of 5 cents per share, down from $88 million, or 8 cents per share, during last year’s comparative quarter.
The 6PM Recap With Gary Wagner: Bargain Hunters And Short Coverers Tee Off On Gold
Last Friday gold sank to five-week lows of $1175. Smelling a bargain, investors and traders stepped in today and began snapping up the yellow precious metal. They sent it up almost 2%.The brightest side of today’s action for bulls is that the great, great majority of the rise came through regular trading although a weaker dollar lent a small bit of assistance.
LBMA Launches Review To Stay Relevant In Evolving Marketplace
(Kitco News) – The London Bullion Market Association has made great strides within the last year to ensure London remains a dominate player in the international gold and precious metals market and it is now looking at ways to continue to grow this trend.
Read moreGold Back Above $1,200 On Big Bounce; Several Factors Cited
Heavy short covering in the futures market, bargain hunting in the cash market and even some safe-have demand were featured Monday as gold prices posted solid gains and pushed back above the key $1,200.00 level. Gold hit a five-week low last Friday an…
Read moreGold Specs Unchanged, Silver Net Longs Halved – CFTC
Trading activity in the gold market was virtually neutral as the Community Futures Trading Commission (CFTC) reported only a small change in speculative interest, Friday.
Read moreGold Extends Early Gains to Trade Sharply Higher, Back Above $1,200
Gold futures are holding solid gains and have pushed back above the key $1,200.00 level as midday approaches Monday. Heavy short covering, bargain hunting and even some safe-have demand are featured. Gold prices hit a five-week low on Friday and the b…
Read moreVenezuela Gold Swap Positive For The Market As Price Pushes To $1,200
(Kitco News) – Venezuela’s $1 billion gold swap with Citibank is helping to create some much-needed momentum in the marketplace, pushing prices to $1,200 an ounce Monday.
Macro Environment Bullish For Gold, Physical Demand Not Providing Firm Floor – Barclays
Although the macroeconomic environment is bullish for gold, Barclays analysts say physical demand remains the key ingredient to support the market. “India’s festival-related buying was below expectations, and demand across Asia is broadly offering prices a soft floor,” they say. “Although there is a ready buyer for net redemptions, demand is not strong enough to set a firm floor.” Commenting on this week’s Federal Reserve meeting, analysts still expect a September rate hike. The analysts also note $1,142 and $1,131 as key levels to look at in the gold market. “A move below the latter would confirm further downside traction towards our greater targets in the 1086/1094 area,” they say. However, relative to the other precious metals, like platinum and silver, analysts say they expect gold to outperform. Barclays’ price forecast for gold remains at $1,190/oz for the second quarter and $1,183/oz for the year.
Mining Exploration Activity Picks Up In March -SNL Metals & Mining
(Kitco News) – According to the latest Monthly Industry Monitor from SNL Metals & Mining, exploration activity saw an improvement in March.
