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Tag Archives: Gold

The Lunacy Of The Dow

I’ve been on Twitter (TWTR) quite a few times railing against the Dow Jones Industrial Average and its price-weighted calculation. And, of course, I am not alone. This index presents a distorted view of any given day’s events although most of the time its foibles are hidden in the performance of the rest of the market. Let’s look at today, September 11, 2019. I am writing at about 2:30 in the afternoon and the Dow itself is up roughly 137 points on the day. All of that gain, and I mean all of...

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Gold Rises on Lower US Dollar, Retail Sales As Metal Poised for Flat Week

Gold futures are rallying on Friday, paring their losses from earlier in the week. The yellow metal is recording gains mostly from a sliding US dollar, which is in focus ahead of a key Federal Reserve policy meeting later this month. But gold’s ascent was capped by the August retail sales report. December gold futures surged $6.90, or 0.46%, to $1,514.30 per ounce at 12:40 GMT on Friday on the Comex division...

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Metals Rally Ahead of ECB

Gold rose today, and other precious metals joined the rally. Market experts speculated that the rally was just a result of short-covering ahead of the European Central Bank monetary policy meeting later today. Market participants expect the ECB to make its policy more accommodative, a move that will likely boost the US dollar. And that is not a good outlook for metals priced in the greenback. At the same...

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Video: Gold as of September 10, 2019

In the present video, Phil Carr from The Gold and Silver Club talks about gold as of September 10, 2019, also mentioning silver. He provides his opinion about where prices may go in the near future, warning about being too bearish on the metal. Phil also reminds that monetary policy meetings of the European Central Bank and the Federal Reserve will likely have a huge impact on the metal market. If you found...

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Gold Poised for Three-Session Skid As Investors Dive Into Equities

Gold futures are on track for their third consecutive session loss as riskier equities appealed to investors more than safe-haven assets. With the Federal Reserve likely to cut interest rates later this month and the US-China trade dispute potentially de-escalating, investors were more confident in financial markets. December gold futures tumbled $4.60, or 0.3%, to $1,510.90 per ounce at 16:37 GMT on Monday...

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Video: Weekly Commodity Forecast – Gold, Silver, Crude Oil for 9–13 September 2019

In the present video, Phil Carr from The Gold and Silver Club talks about gold, silver, and crude oil for the week of September 9–13, 2019. As usually, he starts the video by discussing moves of the commodities last week and what factors affected them. The video continues then with commodity charts and speculation about possible price moves. Phil warns about being overly bearish on gold, warning against...

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Job Report: Badly Misses Estimates As Economy Slows

The jobs report dramatically missed expectations today, especially with private jobs. ​Initial Reaction – Huge Misses The Econoday consensus was for a payroll expansion of 163,000 jobs, 150,000 of them private. The ADP forecast was 195,000 jobs.ADP missed consensus by 65,000 jobs.Econoday missed consensus by 33,000 jobs.Econonday missed the private consensus by 54,000 jobs.The Econoday lowest estimate missed the private consensus by 40,000 jobs.A 34,000 surge in government jobs was...

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Gold Dips on Lower-Than-Expected August Jobs Gains

Gold futures slightly fell during the early part of Friday’s trading session as the US government reported a lower-than-expected increase in jobs last month. The yellow metal has enjoyed enormous gains since the beginning of August, but it has shed about 1% since returning from the Labor Day long weekend. With the Federal Reserve expected to cut interest rates for the second time later this month and US-China...

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Gold & Other Precious Metals Sink on US-China Trade Talks, Copper Rallies

Gold tanked today. Other precious metals joined the decline, showing significant losses as well. Palladium was an exception, managing to carve out reasonable gains. The major piece of news today was the report that the United States and China are going to resume their trade negotiations. While no specific date was set, sources talked about “early October”. That was enough to make traders seek higher-yielding risky assets,...

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Video: Gold as of September 4, 2019

In the present video, Phil Carr from The Gold and Silver Club talks about gold as of September 4, 2019. He starts the video by listing factors that were affecting the metal last week and mentioning the fact that hedge funds and money managers increased their net long positions yet again. Phil then talks about factors that will be affecting the metals in the near future, like nonfarm payrolls released...

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