The 6 P.M. Recap With Gary Wagner: Oil, Unhinged
Oil continued to careen lower today, both WTI crude and Brent free falling around 4.25%. (Natural gas tumbled even more – 4.65%.) Oil-dependent nations that have been planning poorly are reeling, Venezuela and Russia among them.
Belgium Central Bank Looking At Repatriating Gold
(Kitco News) – The National Bank of Belgium is the latest central bank to show interest in repatriating its gold reserves.
Read moreGold Firmer on Short Covering, Chart Consolidation; Bulls Show Resilience
Gold ended the U.S. day session with modest price Monday. Short covering in the futures market and bargain hunting in the cash market were featured, along with some technical chart consolidation. The gold market Monday showed resilience in the face of bearish “outside markets” that saw the U.S. dollar index hit a four-year high overnight, while crude oil prices hit a five-year low during the U.S. trading session. February Comex gold was last up $3.90 at $1,194.30 an ounce. Spot gold was last up $1.70 at $1,195.40. March Comex silver last traded up $0.017 at $16.275 an ounce.
Short Covering Lifts Speculators’ Gold Holdings In Latest CFTC Data
Short covering lifted large speculators’ Comex gold futures and options holdings in the latest Commodity Futures Trading Commission weekly data, after a modest increase in gold prices in the timeframe covered by the report, which is for the week ending Dec. 2.
Gold Bulls Hang Tough, Despite Dollar
(Kitco News) – February Comex gold futures are moderately firmer in early New York trading action, despite overnight strength in the U.S. dollar. For now, gold bulls are hanging tough and limited chart damage was seen after Friday’s surprisingly strong U.S. non-farm payrolls report
Fuel Cell Electric Cars: Throwing Down The Glove, Potential Impact on Platinum
As predicted, fuel cell electric vehicles made a broad entrance at this year’s Los Angeles Auto Show and consumers could be seeing these models in showrooms as early as next year.
Mitsubishi: Palladium Fundamental Backdrop ‘Exceedingly Strong’
The fundamental backdrop for palladium remains “exceedingly strong,” says Mitsubishi, and platinum is also showing signs of bouncing.
Gold Firmer, Showing Resilience in Face of Bearish Outside Markets
Gold is holding modest price gains in early U.S. trading Monday.
Read moreGold, Silver See Modest Strength At The Start Of The Week
(Kitco News) – Gold prices are starting the week relatively strong considering Friday’s surprisingly positive nonfarm payrolls report, but some analysts are expecting to see more pressure in the near-term.
U.S. Mint To Start Offering 2015 Gold Coins Jan. 5, Silver Coins Jan. 12
(Kitco News) – The U.S. Mint plans to sell 2015-dated gold bullion coins beginning Jan. 5 and silver coins a week later, the agency said.
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