Gold: $1,517.7018.20 Silver: $18.030.17

China plans yuan-denominated gold fix this year -sources

SINGAPORE, Feb 27 (Reuters) – China plans to launch a yuan-denominated gold fix this year to be set through trading on an exchange, sources familiar with the matter said, as the world’s second-biggest bullion consumer seeks to gain more say over the pricing of the precious metal. The Chinese benchmark would be derived from a […]

What charts say about the outlook for gold

Weaker-than-expected U.S. housing data lifted gold prices from a seven-week low on Monday, but charts suggest that investors shouldn’t get too excited. Gold got some reprieve on Monday, rebounding from a seven-week low intraday after data showed U.S. home resales for January declined to a nine-month low. The data are unlikely to dent the overall […]

Gold down on strong shares, set for biggest monthly loss since Sept

Gold edged down on Friday and was heading for its biggest monthly loss since September as European shares traded near seven-year highs and upbeat U.S. data supported expectations of a rate hike by the Federal Reserve this year. Gold has fallen more than 7 percent from a five-month high above $1,300 an ounce hit in […]

Gold trade coming back, if you can wait 2 years: BofA

Gold will come under further pressure over the course of the year as the Federal Reserve moves closer to lifting rates, but prospects for the precious metal looks far more promising in the next few years, according to Bank of America Merrill Lynch. “Right now, investors are not in the mood for holding gold because […]

Gold rises 1 pct on U.S. rate hike view, Chinese buying

Gold rose 1 percent on Thursday after comments from the Federal Reserve pushed back expectations for the first U.S. rate hike in nearly a decade, and as Chinese buyers snapped up metal on their return from the Lunar New Year break. Spot gold was up 1.1 percent at $1,217.95 an ounce at 1015 GMT, after […]

Federal Reserve Signals Possible Rate Hike Delay, Bonds Stall

The Federal Reserve plans to keep interest rates at historic lows as labor participation and price inflation data remains weak. Federal Reserve Chairperson Janet Yellen told congress Tuesday that the Federal Reserve has no plans to raise interest rates in “the next couple of FOMC meetings,” adding that economic conditions are improving, but there is […]

Janet Yellen says Federal Reserve flexible on rate rise

Janet Yellen has said the Federal Reserve can be flexible in deciding when to raise interest rates, which have been near zero since 2008. The Fed’s chief said that while the US economy was improving, the US employment situation was still fragile. “Too many Americans remain unemployed or underemployed… wage growth is still sluggish,” she […]

Gold Bug Merk: The Risks of Gold

In the short term, gold introduces volatility, though in the long term the currency manager sees gold as a vital tool for investors One risk of gold: it can be stolen. Axel Merk has written a book lamenting an undependable dollar and his funds designed to manage currency risk include a gold ETF — so […]

U.S. Mint Platinum Coins Bypassed in Rush for Gold

Aug. 21 (Bloomberg) — Five months after the U.S. Mint began producing coins made with platinum, sales have all but collapsed as investors continue to favor gold and silver.“It’s not considered a currency,” said Jason Carstensen, a medical-sales representative in Ventura, California, who spends about $2,000 a month on coins. Gold and silver have value […]

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