Rebound in U.S. Dollar Index Squelches Gold Market Bulls
Gold prices are again modestly lower in early U.S. trading Thursday. A bounce in the U.S. dollar index has once again put the precious metals market bulls on the defensive.
Read moreMore Than 50% of Kitco Readers Expected No Surprises From This Week’s FOMC
Kitco readers were not expecting much from the Federal Open Market Committee (FOMC) minutes on Wednesday, as more than half said they didn’t expect many surprises from the release. In a Kitco News survey posted earlier this week, 102 respondents were asked if they thought this week’s FOMC minutes would shock markets. Roughly 8% said ‘yes, rate hikes are coming’ as their answer, while the majority, 78%, said they didn’t expect much of a surprise and were expecting the ‘same as usual.’ The remaining 14% were on the fence, answering the survey with ‘maybe.’
June, July, September Rate Hikes Still in Play – Analysts
(Kitco News) – Gold sellers reappeared after the minutes signaled a rate increase later this year not next year, says George Gero of RBC Wealth Management.
Read moreGold Down on Technical Correction; FOMC Minutes Add More Pressure
Gold prices ended the U.S. day session moderately lower Wednesday on another corrective pullback from early-week gains. The latest Federal Open Market Committee (FOMC) minutes from last month’s meeting showed that FOMC members were divided on the timing of a U.S. interest rate hike. Markets initially brushed off the minutes as containing nothing new. However, upon reflection gold market traders deemed the minutes as a bit bearish and gold further weakened by a few dollars. June Comex gold was last down $12.40 at $1,198.10 an ounce. May Comex silver was last down $0.465 at $16.375 an ounce.
Fed Needs To Use The “Right Tool” For The Job – Former Fed Chair Ben Bernanke
(Kitco News) – Despite a dismal jobs report in March, one former Federal Reserve Chair said the employment situation is much better than just a few years ago because of the policies put in place by the central bank, but these policies alone may not be …
Read moreEndeavour Silver Q1 Production Beats Estimates But Down YoY
Endeavour Silver Corp. (TSX:EDR)(NYSE:EXK) produced 1,820,050 ounces of silver and 15,808 ounces of gold – 2.9 million silver equivalent ounces – which exceeded company expectations but were nonetheless down 8% year-on-year.
Gold Sees Corrective Pressure; FOMC Minutes on Deck
Gold prices are modestly lower in early U.S. trading Wednesday on a corrective pullback from early-week gains that saw prices hit a six-week high Monday.
Read moreGood Entry Point For Gold Right Now – Marc Faber
Gold’s volatility does not sway this famed economist as he thinks, regardless of recent gold market fluctuations, now is a good buying time.
Gold Sees Downside Correction After 6-Wk High Monday; Solid Rebound in U.S. Dollar Index Bearish
Gold prices ended the U.S. day session moderately lower Tuesday, on a downside correction following good gains that pushed prices to a six-week high on Monday. A sharply higher U.S. dollar index on this day also worked against the precious metals mark…
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