Fed Survey Finds Moderate Economic Growth
WASHINGTON (AP) — The Federal Reserve says the U.S. economy was growing at a moderate pace in December and early January, helped by gains in sales of autos and other consumer products, increased factory production and a pickup in tourism in various parts of the country.
Gold Posts Modest Gains on More Safe-Haven Demand and Chart-Based Buying
Gold prices ended the U.S. day session modestly higher and closed at an 11-week high close Wednesday. A downbeat U.S. economic report and a stock market sell-off prompted safe-haven buying interest in gold. A weaker U.S. dollar index on this day was a…
Read morePDAC Names Andrew Cheatle New Executive Director
The Prospector’s and Developer’s Association of Canada (PDAC) named Andrew Cheatle, former president and chief executive officer of Unigold Inc. (TSX:UGD), as executive director of the association.
New Italian Political Drama On Horizon: BBH’s Chandler
(Kitco News) – Following the resignation of Italy’s president Giorgio Napolitano on Wednesday, a research note from Brown Brothers Harriman suggests Italian ‘drama’ will most likely follow.
Barclays: Expect Further Losses In Copper Prices
Technical analysts from Barclays say they are expecting to see more losses in copper prices as the base metal is leading the commodity indexes “collapse” Wednesday. Overnight, copper futures on the London Metals Exchange hit its lowest point since 2009, falling to $5,353.25 a tonne; prices are off their session low but are still down almost 5% on the day. “Copper downturn points lower towards targets in the 5210/5280 area next,” the analysts said.
Copper Dives Sharply As Investors React To Weaker World Bank Growth Forecast
(Kitco News) – Despite the holiday shopping reason, U.S. consumers bought fewer products last month, according to the data from the U.S. Census Bureau.
Read moreGold Firms Following Downbeat U.S. Retail Sales Report
Gold prices are moderately higher in early U.S. trading Wednesday, pushing to the daily high in the wake of a downbeat U.S. economic report.
Read moreWeaker Gas Prices Don’t Explain 0.9% Drop in December Retail Sales – Analysts
(Kitco News) – Despite the holiday shopping reason, U.S. consumers bought fewer products last month, according to the data from the U.S. Census Bureau.
Read moreCoeur Mining Keeps The Momentum Going With Wharf Mine Acquisition
(Kitco News) – Coeur Mining, Inc. (NYSE:CDE) ended 2014 with an acquisition and they’re kicking the year off with another.
Profit Taking, Dollar Ambush
Fundamentally, investors are looking for a safe haven not just from weakness in a certain sector or other market but from the uncertainty that a more systemic volatility brings. And that’s what we have… a sense of disorder in the marketplace.
