U.S. Q1 GDP misses expectations: consumer spending revised up, exports revised down
(Kitco News) – The second reading of the U.S. Q1 GDP data disappointed, with the U.S. economy growing 6.4% versus the 6.5% that was expected.
Read moreGold price remains below $1,900 following mixed U.S. durable goods data
(Kitco News) – The gold market continues to see some technical selling pressure after pushing above $1,900 and is seeing little reaction to mixed U.S. manufacturing data.
Read moreBitcoin daily chart alert – Bulls stabilize the market late this week – May 27
(Kitco News) – Bitcoin-U.S. dollar prices are a bit higher in early U.S. trading Thursday. Bulls have at least temporarily stabilized prices this week, after last week’s big sell off. Bulls have more heavy lifting to do.
Bank of England’s Vlieghe says rates could rise after furlough
(Kitco News) – Bank of England’s (BoE) Gertjan Vlieghe has been pretty chatty this afternoon with many comments about the state of affairs at the BoE and the U.K. economy.
Read moreTavistock say the break of $1800/oz could be significant for gold
(Kitco News) – U.K. investment firm Tavistock Wealth often releases market commentary and with gold’s recent rise Chief Investment Officer John Leiper said the break of the $1800/oz level could be significant.
Read moreKey intraday support levels for the gold price
(Kitco News) – Gold has started to retrace in the European session as the buyers seem to be running out of steam. The first sign of a momentum less is the fact that a lower high has been printed on the hourly chart. If the previous wave low breaks at $…
Read moreGold and silver are flat leading into the European open
(Kitco News) -Gold and silver are heading into the European open slightly above flat. Gold closed yesterday -0.13% lower while silver fell 1.04%. In the rest of the commodities complex, copper has moved 0.81% higher while spot WTI is down half a percent.
Read moreWesdome decides to restart Kiena gold mine, commencing immediately
(Kitco News) – On an after-tax basis, Kiena’s base case financial model resulted in an IRR of 98% and an NPV of $366.6M.
Read moreUltimate gold price target is $5,000-$10,000, says Guggenheim’s Scott Minerd
(Kitco News) – As chaotic price swings of the crypto world push investors back into gold and silver, the precious metals will start to build momentum, with the ultimate gold price target set at $5,000-$10,000, according to Guggenheim’s CIO Scott Minerd.
Read moreThese are inflation-resilient investments – Wells Fargo
(Kitco News) – Inflation will remain elevated for now, according to Wells Fargo, which published a list of inflation-resilient sectors to invest in, and it doesn’t include the defensive sector.
Read more