Gold Lower On Sharply Weaker Crude, Higher USD
(Kitco News) – Gold prices are solidly lower in early U.S. trading Friday. Plunging crude oil prices and a stronger U.S. dollar are bearish “outside market” forces working against the precious metals on this day.
Analysts: Gold, Other Metals Slump With Crude Oil
Gold has slumped to its lowest level in a week as crude oil hit a four-year low. “The gold price has temporarily fallen to a weekly low of around $1,180 per troy ounce this morning,” Commerzbank says.
What Do Japanese Think Of Their Economy? – Pew Research Center
Japan has the world’s third largest economy but the Japanese do not seem optimistic about its future sustainability, according to the Pew Research Center.
Mining Sector Near-Term Drilling Choppy, Long-Term Drilling Positive – CIBC
Despite an uptick in recent drilling activity, namely from major mining companies, Canadian bank CIBC isn’t very bullish on drilling activity in the near term, but does think long-term fundamentals are positive.
World Gold Council, Indian Business School Researching Gold’s Role In Economy
(Kitco News) – As India pushes closer to regaining the title as the world’s biggest gold consuming nation, the World Gold Council and one of the country’s top business schools are researching how the nation’s gold can be used to promote economic growth.
Weaker Tone For Gold
Some good action in the Far East overnight, as the stronger dollar encouraged selling.
Read moreThe 6 P.M. Recap With Gary Wagner: On To Thanksgiving
Two currents were pushing gold prices around today.
The first, and most important for us in the long term is that a raft of data from the U.S. economy came in shaky at best. Consumer sentiment, housing and manufacturing declines sent red flags flying,…
Gold Ends Steady-Weak in More Lackluster, Pre-Holiday Trading
Gold prices ended the U.S. day session steady to slightly lower in quiet, pre-holiday trading Wednesday. A dearth of bullish fundamental news recently and a bearish chart posture are keeping gold prices on the defensive. Some chart consolidation is al…
Read moreFrench Political Leader Wants Gold Back In France
(Kitco News) – France could be next on the list of countries that wants to take its gold back, if the leader of a far-right political party has her way.
Read moreGold Would Get Boost From Surprise ‘Yes’ Swiss Vote; ‘No’ Vote Already Factored Into Prices
All eyes will be on Switzerland this weekend as traders watch to see if the populace approves a referendum that would mean the central bank would have to ramp up its buying of gold buying over the next several years.
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