Shelter From The Storm
The half- and quart-point losses on the Dow and S&P 500 look positively like a day at the beach compared to the rest of the world’s exchanges. And the modest rise on the NASDAQ seems like Thanksgiving, Christmas and Fourth of July rolled into one.
Gold Sharply Up on Safe-Haven Demand, Short Covering; Bulls Gain Technical Momentum
Traders and investors were spooked a bit Tuesday due to several world developments—and the gold and silver markets were keen beneficiaries. Gold and silver prices ended the U.S. day session sharply higher and hit six-week highs Tuesday. Safe-haven demand, short covering and bargain hunting were featured in the yellow metal. Importantly, Tuesday’s price action on the charts is the strongest evidence yet that the gold and silver markets have put in near-term bottoms, if not major lows. February Comex gold was last up $37.00 at $1,232.00 an ounce. Spot gold was last up $28.30 at $1,233.00. March Comex silver last traded up $0.849 at $17.125 an ounce.
Gold Rally Fueled By Safe-Haven Buying, Short Covering As Equities Tumble
The second straight selloff in equities, combined with a U.S. dollar on the back foot, has prompted some investors to return to the gold market.
Read moreLower Oil Prices Could Hurt Silver, Platinum and Aluminum In Short Term – Macquarie
(Kitco News) – Platinum, silver and aluminum have had the highest correlation with oil prices in recent years, according to recent research from Macquarie, which means lower crude prices could hurt the metals complex in the short-term.
Read moreWGC, Indian Group Examine Ways To Monetize Household Gold
Establishing an Indian gold exchange, developing accredited refineries and creating quality certification for gold products would help to monetize the large stocks of India’s household gold, said the World Gold Council and the Federation of Indian Chambers of Commerce and Industry on Tuesday.
Gold Extends Early Gains, Sharply Higher and Hits 6-Week High
Gold prices are trading sharply higher and hit a six-week high in mid-morning dealings Tuesday. The precious metal has extended early solid gains. Safe-haven demand amid a world stock market sell-off and amid solid losses in the U.S. dollar index Tues…
Read moreMajors Are Driving Mining Exploration Budgets – SNL Metals & Mining
(Kitco News) – While the general ideology is that junior companies are responsible for a large part of exploration, a study by SNL Metals & Mining shows that major miners account for 40% of global exploration allocation.
Gold Sees Safe-Haven Demand as World Stock Markets Sell Off
Gold prices are solidly higher and have pushed well above the $1,200.00 level in early U.S. trading Tuesday.
Read moreCommerzbank: Central-Bank Actions Likely To Mean Physical Demand For Gold
The fundamental backdrop for palladium remains “exceedingly strong,” says Mitsubishi, and platinum is also showing signs of bouncing.
TDS Sees Gold, Silver Starting Softer In 2015 But Then Turning Higher
(Kitco News) – TD Securities looks for gold and silver to first weaken in 2015 due anticipation of higher real yields, a stronger U.S. dollar and expectations for Federal Reserve tightening, only to rebound again when policy-makers hike rates only slig…
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