(Bloomberg) — Gold advanced on rising demand for the precious metal as a hedge against inflation after U.S. housing starts increased in June, adding to signs the world’s biggest economy is stabilizing. Silver also gained. Home-building starts rose 3.6 percent to an annual rate of 582,000, the highest since November, the Commerce Department said today [...]
Courtesy of Jesses Cafe Americain As you may have heard recently, the Comex has asserted their right under their rules to deliver the equivalent paper interest in Exchange Traded Funds such as GLD in lieu of the delivery of physical bullion for those standing for delivery under the rules of the commodity exchange. Is GLD [...]
(Reuters) – Gold prices steadied on Thursday after jumping to a two-week high the previous day when U.S. consumer prices data stoked fears of rising inflation, with investors watching the dollar for market direction. FUNDAMENTALS * Spot gold was steady at $939.00 per ounce as of 0010 GMT, compared to New York’s notional close of [...]
August gold closed sharply higher on Wednesday and above the 20-day moving average crossing at 929.00 confirming that a short-term low has been posted. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. If August [...]
(Reuters) – Gold rose to above $940 an ounce on Wednesday, hitting a two-week high as the dollar fell to its lowest in a month against a basket of currencies after data showed U.S. consumer prices rose faster than expected in June. Silver tracked gold higher, rising to a session peak of $13.37 an ounce [...]
Courtesy of Stockweb Gold is of these assets which are mostly used for hedging against falling equities but also used as a safe heaven for political, economic or other kind of crisis. This has been seen during current financial crisis and global economic recession. The gold prices topped all time high $1000 this March when [...]
(Reuters) – Gold prices extended gains on Tuesday as traders bought into the metal as a currency hedge amid weakness in the U.S. dollar, with a larger-than-expected rise in U.S. producer prices also fuelling gains. A rise in other commodities such as oil and the industrial metals is further supporting the gold price, traders said. [...]
Courtesy of Andrew Mickey “I think we’re going to have some of the worst inflation, with all the printing presses around the world running 24/7.” That’s what leading contrarian investor David Dreman said in an interview two weeks ago. Now, I know what you’re thinking, classic inflation hedges have fallen out of favor. Precious metals [...]
August gold closed higher due to short covering on Monday as it consolidates some of last week’s decline. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are diverging and are turning neutral to bullish hinting that a short-term low might be in or is near. [...]
Courtesy of Jesse’s Cafe’ Americain