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With the drop in speculative long positions to the smallest since January and reduced holdings of gold-backed exchange-traded funds, “we judge that real money managers are reluctant to buy gold at this time,” says TD Securities.
Read more(Kitco News) – With gold prices continuing to flounder against a stronger U.S. dollar, getting a mine up and running as quickly as possible is the smart way to go, said junior gold-mining executive.
Read moreGold futures prices ended the U.S. day session modestly higher, while the spot gold market was modestly lower Monday. Tepid short covering by the futures traders and some light bargain hunting were featured, following recent solid selling pressure tha…
Read more(Kitco News) – The bearish sentiment toward precious and base metals continues, as large speculators cut their net-bullish Comex gold futures and options holdings to the smallest since January, according to data compiled by the Commodity Futures Tradi…
Read more(Kitco News) – The amount of people in the process of buying a home dropped in August, giving back some of July’s gains, according to data from the National Realtor Association.
Read more(Kitco News) – A new gold futures contract that CME Group aims to launch in Hong Kong by year-end will not only provide another venue for traders to take outright positions but is aimed at “easy arb” for those who want to hedge or trade price variations in different parts of the world, said a CME Group official.
Read moreGold prices are mildly firmer in early North American dealings, with the yellow metal rising on news of protests in response to weekend protests and police crackdown over Chinese control of the 2017 elections, analysts say. Edward Meir, commodities consultant at INTL FCStone, says both the U.S. dollar and gold are up, “with the tensions in Hong Kong likely con¬tributing to the rise in both.” Analysts at Barclays say the Hang Seng fell in response to the pro-democracy movement. So far, though, the metal’s gains are limited as the overall outlook for gold is weak. “With the technical and fundamental backdrop for the pre¬cious metal looking weaker, the path of least resistance looks lower for the moment,” Meir says.
Read moreSeptember 29 —Markets don’t go straight up or down, they need to pause, correct and take a break. The recent technical trend in the gold market has been bearish; prices have been trending lower off the July price high in an orderly manner.
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