Updated: ECB Unlikely To Buy Gold Despite Recent Comments – Analysts
(Kitco News) – The gold market is finding some support in part after news reports revealed that the European Central Bank could buy gold as part of its asset-backed securities purchase program, but some analysts think that step is an unlikely scenario.
Read moreShort-Term Technical Picture Improving As Gold Continues Recent Rebound
Gold’s action in the past two weeks bodes well for the metal in the short term, at least, analysts said.
Subdued, Cautious Tone Prevails At LBMA Conference
A subdued, cautious tone prevailed at last week’s London Bullion Market Conference, several attendees said, with the forecast for precious metals prices in October 2015 to be near current levels to slightly higher.
Remaining Investment In Gold ETFs Thought To Be ‘Stickier’ Than Years Past
Withdrawals from global exchange-traded funds have been blamed for accelerating the slide in gold prices during the past couple of years, but there is a notion in the marketplace that the investment now remaining in the ETFs is probably “stickier” and investors have more of a long-term view.
Indian Government May Restrict Gold Imports – Commerzbank
India’s Ministry of Finance may announce measures to restrict gold imports, possibly as early as Tuesday, says Commerzbank. Citing industry sources, the bank says the Reserve Bank of India is strongly supportive of new import restrictions following news that the value of gold imports in October soared by 280% year-on-year to $4.2 billion. “That said, this is partly due to a base effect. Any further limitation of gold imports would probably also lead to increased smuggling, which cannot be the Indian government’s intention. In addition, Indian jewelry retailers could increasingly resort to silver,” Commerzbank says.
Inflation Continues To Grow As U.S. Producer Prices Rise 0.2% In October
(Kitco News) – Pipeline inflation pressures rose in October, reversing Septembers’ drop, according to data from the U.S. Labor Department.
Gold Hits 3-Week High On More Short Covering, Weaker U.S. Dollar
(Kitco News) – Gold prices are posting decent gains and hit a three-week high in early U.S. trading Tuesday. Prices pushed above $1,200.00 in overnight dealings.
The 6 P.M. Recap With Gary Wagner: Traders Say Yes, Dollar Says No
Gold rose at the hands of traders and investors early in the day, until they eased up and a stronger dollar weighed on gold prices.
Read moreGold Ends Weaker on Corrective Pullback and Strong U.S. Dollar
Gold prices ended the U.S. day session steady to slightly lower Monday, on a corrective pullback from good gains posted last Friday. A stronger U.S. dollar index Monday also squelched the gold and silver market bulls. Still, the solid upside price act…
Read moreSolar-Powered Roads Are Closer Than We Think
It appears that solar-powered roads are becoming a reality after all.
Read more