U.S. Weekly Jobless Claims RiseTo 278K
(Kitco News) – First-time weekly jobless claims in the U.S. rose by 11,000 to a seasonally adjusted 278,000 during the week to Saturday, the Labor Department said Thursday
Read moreGold Weaker; Trading Choppy as U.S. Jobs Data Approaches
(Kitco News) – Gold prices are not straying too far from unchanged levels in early U.S. trading Thursday.
Read moreThe 6 PM Recap With Gary Wagner: No Lid Yet On Volatility
There’s nothing like scads of excess supply to drive down the price of a commodity. That’s what happened today when it was revealed that there were record stockpiles of crude oil.
Gold Focused On Central Banks, Not Oil – Triland Metals
Gold’s attention has been focused on central banks’ easing policies, rather than the inflationary or deflationary issues surrounding weaker oil prices, say analysts at Triland Metals. “[T]he short-term oversupply [in oil] will seemingly continue and the bounce in prices could be premature…what does this mean for precious metals? Not a great deal actually,” they say. The analysts note that, given recent investor flows, a positive sentiment has manifested itself into the gold market and dips are being bought for the first time since 2012, which could explain why the metal is struggling to breach resistance. “Last week’s commitment of traders report also shows another 13% increase in net gold positioning – which may help to explain some of the offloading we saw ahead of $1,300,” they add.
Yes She’s Pretty. Yes, She’s Running For Poland’s Presidential Seat
(Kitco News) – Magdalena Ogorek is raising a few eyebrows. A former television presenter with striking good looks, Ogorek was selected to represent the Polish social democrats in the May 10 election.
Read moreGold Firmer As Trading Turns Choppy; Focus on U.S. Jobs Report Friday
Gold prices ended the U.S. day session modestly higher Wednesday. Prices saw a corrective bounce from selling pressure Tuesday. Backing and filling on the charts has been featured recently, to produce choppy price action. Gold bulls were impressed Wednesday that their metal is posted gains despite “outside markets” that were in a bearish posture—a higher U.S. dollar index and sharply lower crude oil prices. April Comex gold was last up $4.90 at $1,265.20 an ounce. March Comex silver last traded up $0.084 at $17.405 an ounce.
Deflation Can Be A Good Environment For Gold – Capital Economics
Central Banks around the globe are doing whatever they can to fight the problem of weaker growth and lower price pressures, which could be a positive for the gold market, according to the latest report from Capital Economics.
Read moreGold Could Suffer Friday As Economists Expect Jobs Report To Support Fed Hike
(Kitco News) – It’s a traders’ market in gold as investors continually adjust to data that supports or disproves a Federal Reserve rate hike in the second half of the year. January’s nonfarm payrolls data is the next key market event and prove to be negative for gold, according to some analysts.
Lundin Gold To Begin Feasibility Study At Fruta Del Norte
Lundin Gold Inc. (TSX:LUG)(ST:LUG) announced it has assembled an engineering team to begin the feasibility study for its Fruta del Norte project, located in Ecuador.
Read moreGreece Finance Minster And ECB President Have ‘Fruitful’ Conversation
(Kitco News) – Global financial markets continued to see further stabilization Wednesday as Greece’s finance minister and the European Union’s top banker sat down to talk about a potential renegotiation agreement.
