Gold Sees Modest Rally Late, After Quiet Session
Gold prices saw a late upside push to finish modestly higher on the day Monday, after trading weaker most of the session. Bullish “outside markets” on this day—a weaker U.S. dollar index and higher crude oil prices—helped to give the gold and silver buyers the late advantage. It was a calmer start to the trading week, following an active period seen last week. That also allowed for some backing and filling on the technical charts. April Comex gold was last up $1.90 at $1,281.10 an ounce. March Comex silver last traded up $0.055 at $17.27 an ounce.
UPDATED: Europe On Its Heels, Gold Headed To $1,400/oz In 2015 – Capital Economics
(Kitco News) – Although gold prices have retreated from mid-month gains, one UK-based research firm noted that the metal has managed to gain about 7% year-to-date, and it expects prices to be boosted further by uncertainty surrounding Europe.
Read moreICE To Replace London Gold Fix
(Kitco News) – The Intercontinental Exchange (NYSE:ICE) will be administering the London Bullion Market Association (LBMA) gold fix in March 2015, when it will replace the London Gold Fix, which has been used since 1919.
Read moreGold In A ‘Sweet Spot’ As Central Banks Pursue Aggressive Easing
Globally, central banks are aggressively pursuing inflationary monetary policies while weakening their currency to promote more economic growth, and one European fund manager sees or said he sees this as the perfect environment for gold.
Read moreTechnical Trading: Gold Corrects After $1300 Ceiling Holds Firm
Feb. 2—Corrective forces have taken hold of the gold market following a strong rally move in recent weeks. Since the start of 2015, gold has climbed as much as 10% higher to the late January peak. But, now, simply put, gold bulls are tired and are due for a rest.
Gold Sees Corrective Pullback from Friday’s Gains
Gold prices are modestly lower in early U.S. trading Monday, on a technical correction from gains seen Friday.
Read moreGold To Be Volatile In Big Data Week Ending With Nonfarm Payrolls – Analysts
(Kitco News) – Gold prices surged higher in the North American session late Friday to end the week in modestly negative territory. Analysts said they are expecting more volatility as markets adjust to U.S. monetary policy expectations and geopolitical uncertainty.
Europe On Its Heels, Gold Headed To $1,400/oz In 2015 – Capital Economics
Although gold prices have retreated from mid-month gains, one UK-based research firm noted that the metal has managed to gain about 7% year-to-date, and it expects prices to be boosted further by uncertainty surrounding Europe.
Read moreWe’re Not In A Currency War – BBH
Following an eventful month in monetary and forex policy, Brown Brothers Harriman says, based on a summary of the many central bank policy changes in January, that this is a race to lower rates, “not a currency war.” The report notes that unlike a true currency war, which is a ‘zero sum game,’ lowering interest rates boosts demand and thus not a zero-sum game. “In addition, currency weakness is not uniformly welcome among countries with an easing bias – some because of high inflation problems, other because of financial stability concerns,” it adds. BBH analysts also say that the rate moves made in January are not enough to explain the currency performance in certain countries. “India unexpectedly cuts rates, but the currency appreciated. On the other hand, the currencies of Canada and Egypt fell 7.5% and 6%, respectively, in the wake of their surprise cuts. Three of the five countries that hiked rates in January had a weaker currency afterward. And the move in the Swiss franc was a different case, of course,” they say, adding that they expect more countries to ease monetary policy in the coming months. “History may prove that many of these surprise rate cuts were premature, especially if currencies continue to weaken – Turkey and Russia are good examples.”
LBMA Panel: Gold To Trade Flat, Palladium To Outperform In 2015
(Kitco News) – The London Bullion Market Association (LBMA) rounded up a panel of experts to forecast precious metal prices in 2015 -and while prospects may be neutral for gold they are bullish for silver, platinum and palladium.
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