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Live London Gold News Wire
1 to 2 hours old
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Gold rises above $1,20019:54
The News International - Business
Gold prices unchanged at B18,45019:53
Bangkok Post
Phoenix Gold completes share purchase plan19:41
Proactive Investors (Australia)
2 to 4 hours old
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Gold hovers near $1,200, set for dip on robust dollar18:44
CNBC.com - Commodities
Gold hovers near $1,200, set for weekly dip on robust dollar18:12
Reuters - Business
Gold hovers near $1,200, set for weekly dip on robust dollar18:10
Yahoo! India
Gold Looking Weak, More Downside Expected17:50
FXstreet - Latest Analysis
$10 million gold coin in Portland: National Money Show shows off American treasures (photos)17:40
The Oregonian
Gold prices gain in Asia with non farm payrolls, China reforms in focus17:33
ForexPros.com - Commodities
Erin Resources raises funds to advance Senegal gold projects17:21
Proactive Investors (Australia)
Gold rises after ECB inflation forecasts, US data eyed17:00
ArabNews - Economy
Silver Wheaton Shares Decline As New Gold Stream Brings Only Limited Immediate Value16:55
Seeking Alpha - Silver
4 to 6 hours old
www.usagold.com --LIVE NEWS--
Gold eases after ECB inflation forecast16:12
Business News
Canada gold assets regaining lost luster, helped by soft C$15:36
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Teranga Gold: Exploration Update15:31
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No Trade In Gold For Now15:24
Gold Silver Worlds
6 to 8 hours old
www.usagold.com --LIVE NEWS--
Gold heist detective: Robbers pulling up immediately smells of ‘inside job’14:53
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Gold Seeker Closing Report: Gold and Silver End Near Unchanged Before Jobs Day14:30
GoldSeek.com
Gold falls for fourth day14:30
Proactive Investors (Australia)
Gold drops 0.4% as US dollar strengthens; WTI declines 1.5%14:03
Proactive Investors (USA & Canada)
Canada gold assets regaining lost luster, helped by soft C$13:53
Reuters.co.uk - Regulatory News
Canada gold assets regaining lost luster, helped by soft C$13:43
Reuters.com - Regulatory News
Gold eases on ECB inflation call13:30
Business Spectator - Economy
Gold falls below $1,200/oz after rising on ECB forecasts13:01
Business Recorder, Pakistan
Earlier Today
www.usagold.com --LIVE NEWS--
Gold and Silver Justice For Some - Currency Wars - ECB Deposit Rates To -3%12:54
The Market Oracle - The Market Oracle
Gold flirting with $1,20012:53
FXstreet
UAE may invest in Pak's gold, copper projects: Durrani12:50
Khaleej Times - Business
Gold slips below $1,200 after China lowers growth rate12:31
ForexPros.com - Commodities
The Small Town That's Brimming With Black Gold12:30
NBC News - Markets
Gold ends below $1,200, down four straight sessions12:12
MarketWatch - Market
Gold’s Track Record in March Signals More Pain: Chart of the Day11:17
Bloomberg - Gold
Gold rises after ECB inflation forecasts, U.S. data eyed10:40
Reuters - Business
Gold rises after ECB inflation forecasts, …10:38
Yahoo! India
Gold recycling falls to 7-year low, says WGC10:09
Deccan Herald - Business
Does Rob McEwen really not wonder why gold isn't at $5,000 already?10:09
GoldSeek.com
Gold flat around $1,20010:00
Kuwait Times - Business
AuRico Gold: Not Enough Cash Flow To Service Debt09:52
Seeking Alpha
The small US town holding billions in black gold09:40
CNBC.com - US
Gold rises after ECB inflation forecasts09:31
Business Day - Markets
Gold rises after ECB inflation forecasts, US data eyed09:10
Business Recorder, Pakistan
Gold Has Never Been More Valuable Than Today!09:10
Gold-Eagle
Goldsource Commences Construction at Eagle Mountain Gold Project, Guyana, South America09:08
GoldSeek.com
Gold trades near $1,200 as investors wait for economic data09:05
Mineweb
Russia produced 12.9 T of gold in Jan 2015 – ministry09:05
Mineweb
Gold recycling volumes very price-dependent – WGC09:05
Mineweb
Philip Manduca: ‘Forget gold – diamonds are the best store of value’09:03
MoneyWeek
Semafo: The Best Is Yet To Come Following The Orbis Gold Acquisition08:57
Seeking Alpha - Gold
Sell Comex gold if it touches $1,205-10/an ounce08:54
The Hindu Business Line - Markets
Why Investors Are Starting to Buy Gold Mining Stocks Again08:35
The Motley Fool (Canada)
Gold Miner Index Breadth Oscillator, Forward Reckoning®08:28
The Market Oracle - Personal Finance

Gold Consolidates Further, As Dollar Gains on Euro Weakness

by Peter A. Grant

March 05, AM
(from USAGOLD.com) --

Gold continues to consolidate around the $1200 level. However, the yellow metal is actually proving quite resilient in the face of new 11-year lows in the euro, which are perpetuating the recent uptrend in the dollar.

The ECB held steady on rates this morning, and announced that they would begin their massive €1 trillion+ asset purchase program on March 9. That pushed the EUR-USD rate below 1.11 for the first time since September 2003.

ECB chief Mario Draghi seems optimistic that €60 bln a month in asset prices will result in a sustained adjustment to the path of inflation. Nonetheless, his own staff's projections don't see inflation getting close to their target until 2017. The market is far less optimistic, with expectations for inflation below 1% into 2017.

That suggests that QE may have to extend beyond the scheduled end-date in September 2016. Something Draghi acknowledged today that he is prepared to do if necessary. I suspect it will be necessary.

The dollar remains well bid today, despite yet another round of generally soft U.S. economic data. This offers further proof that the dollar gains are more a function of euro weakness than anything optimistic happening on the U.S. economic front:
• US initial jobless claims +7k to 320k in the week ended 28-Feb, well above expectations of 289k, vs 313k in previous week.
• US Q4 productivity revised down to -2.2%, inside expectations of -2.4%, vs -1.8% previously. ULCs revised up to +4.1% from +2.7%.
• US factory orders -0.2% in Jan, above expectations of -0.3%, vs negative revised -3.5% in Dec; ex-trans -1.8%. Inventories -0.4%.
I'd look for gold to remain contained within the recent range ahead of tomorrow's release of March nonfarm payrolls. Median expectations are for a gain of 240k jobs and downtick in the unemployment rate back to 5.6%.

Opinions expressed in commentary on the USAGOLD.com website do not constitute an offer to buy or sell, or the solicitation of an offer to buy or sell any precious metals product, nor should they be viewed in any way as investment advice or advice to buy, sell or hold. USAGOLD, Inc. recommends the purchase of physical precious metals for asset preservation purposes, not speculation. Utilization of these opinions for speculative purposes is neither suggested nor advised. Commentary is strictly for educational purposes, and as such USAGOLD does not warrant or guarantee the accuracy, timeliness or completeness of the information found here.

 

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