Gold Steady-Firm; Some Safe-Haven Buying Heading into Weekend
Gold prices are steady to modestly higher in early U.S. trading Friday, on mild bargain hunting and some safe-haven demand heading into the weekend. Also, gold is still seeing some buying interest in the wake of Wednesday’s FOMC meeting that is being deemed a bit dovish. However, a firmer U.S. dollar index and big gains in world stock markets are limiting the upside in gold and silver. February Comex gold was last up $3.10 at $1,198.00 an ounce. Spot gold was last down $0.30 at $1,198.00. March Comex silver last traded down $0.019 at $15.915 an ounce.
The Six PM Recap With Gary Wagner: Step Into The Magic Oscillator
The Markets must have four stomachs. They chew, re-chew, re-digest and finally – well, maybe finally – settle on a group-think opinion.
Coeur Mining’s Recent Acquisition ‘Good For Near-Term, And Long-Term’ – CEO
(Kitco News) – Coeur Mining, Inc.’s (NYSE:CDE) $146 million acquisition bid for Paramount Gold and Silver Corp. (NYSE MKT:PZG)(TSX:PZG), announced Wednesday, is a good near-term and long-term play, according to a Coeur executive.
Coeur Mining’s Recent Acquisition ‘Good For Near-Term, And Long-Term’ – CEO
(Kitco News) – Coeur Mining, Inc.’s (NYSE:CDE) $146 million acquisition bid for Paramount Gold and Silver Corp. (NYSE MKT:PZG)(TSX:PZG), announced Wednesday, is a good near-term and long-term play, according to a Coeur executive.
Gold Firmer in Wake of Dovish FOMC, and on Safe-Haven Demand
Gold prices ended the U.S. day session modestly higher Thursday, on some bargain hunting in the cash market and short covering in the futures. Gold saw a mild boost in the aftermath of an FOMC meeting that is being deemed a bit dovish. Also, there is still a bit of safe-haven demand for gold amid this week’s steep slide in the Russian ruble.
Banks See Wide Range For Gold In 2015 As Prices Search For A Bottom
Since early November, financial institutions have been busy revising and updating their gold forecasts for 2015.
Read moreUpdated: Goldman Sachs Is Still The Bearish Of Them All
Since early November, financial institutions have been busy revising and updating their gold forecasts for 2015.
Read moreMKS: 39 Tonnes Of Gold Reportedly Bought During Chinese Trading Day
Gold futures are off their highs and relatively unchanged for the day. As of 10:41 a.m EST, Comex February gold was trading at $1,194.2 an ounce, down about 50 cents, on the day. Analysts from MSK (Switzerland) SA, note that gold’s rally started overnight during the Asian trading session as there was strong demand for physical gold seen in China. They add there were reports that 39 tonnes of gold was bought during the session. However, the rally was not sustainable. “As we are accustomed to seeing recently, interest dropped off during the Chinese break before USD $1,200 was breached in the afternoon session,” they say. The analysts add that silver also pushed higher on the back of renewed gold demand from China.
Mining Stocks Will Have A Good Year – Analysts
(Kitco News) – Phrase it however you like, gold and silver mining stocks have had a rough ride during this bear market, leaving many investors scratching their heads with decimated stock picks.
Read morePhiladelphia Fed Manufacturing Index Falls 24.5 To In December
(Kitco News) – The headline index for a survey of manufacturers in the Philadelphia area weakened in December, reversing some of November’s gains, which was a 21-year high, according to a report released Thursday.
