Gold Could Push To $1,200 Next Week If U.S. Dollar Remains Weak – Analysts
What a difference a few days can make as the gold market sees renewed optimism, ending the week solidly positive on the back of a weaker U.S. dollar and lower U.S. treasury yields.
Read moreBlack-Market Gold Increased In FY2015: Indian Gov’t
According to the Trade Ministry of India, the country saw more black market gold entering its borders as the legal market faced higher tariffs and import restrictions. Based on recent government data, the number of gold seizures jumped to 3,412 cases i…
Read morePrecious Metals Streaming Companies Are Enjoying This Market
(Kitco News) – Now that Fed Chair Janet Yellen, and every market analyst who has followed the Fed meeting, has obliterated the word “patient” this week, we can all move on with our lives.
Gold Extends Early Gains Amid Sharp Sell-Off in U.S. Dollar Index
Gold prices are moderately higher and have added on to early gains as the U.S. dollar index is suffering a big sell off Friday. The dollar index is poised to close at a bearish weekly low close, which would be a technical clue the dollar index has put…
Read moreLBMA London Gold Price Launches Today
(Kitco News) – Friday is the beginning of a new era as the London Bullion Market Association (LBMA) launches its new electronic-based gold benchmark, London Gold Price, replacing the century old London Gold Fix.
Read moreSalobo Stream Acquisition Made Sense, Always Room For More Deals – Silver Wheaton CEO
(Kitco News) – Silver Wheaton Corp. (TSX:SLW)(NYSE:SLW) has finally broken its radio silence, after they announced that huge $900 million stream acquisition from diversified mining giant Vale S.A. (NYSE:VALE) on March 2.
Read moreGold Up on Follow-Through Buying, Weaker U.S. Dollar
Gold prices are modestly higher on follow-through buying from gains seen Wednesday and Thursday.
Read moreDollar Hampers Gold’s Regular Trading Surge
The Dow is off 0.6%, the S&P is off over 0.4%, although the NASDAQ has been strong.
Gold Sees Follow-Through Buying; Bulls Have More Work to Do
Gold prices ended the U.S. day session solidly higher Thursday, on follow-through gains from Wednesday’s Fed-inspired rally. Short covering in the futures market and bargain hunting in the cash market were featured. Gold bulls still have some work to do to break the near-term price downtrend. April Comex gold was last up $17.00 at $1,168.20 an ounce. May Comex silver was last up $0.564 at $16.105 an ounce.
Gold ETFs Investor Inflows Positive For First Time In A Month
Investors jumped into gold-backed exchange-traded funds (ETF) Wednesday, following a more dovish-than-expected Federal Reserve. SPDR Gold Shares (NYSE: GLD) the world’s largest gold ETF saw an increase in its reserves of 1.79 tonnes to 749.77 tonnes. Some analysts note this isn’t a massive jump, compared to some of the recent outflows, but it is the first inflows seen since Feb. 20. On a monthly basis, GLD’s gold reserves have so far dropped by 13.72 tonnes in March; however, year-to-date, investor interest remains net positive as the ETF has seen its gold reserves increase by 40.75 metric tons.
