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Daily Gold Market Report
one day gold price chart gold prices


Live London Gold News Wire
5 to 10 minutes old
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Gold marginally lower; Brent gains13:10
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30 minutes to 1 hour old
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Crude Oil, Gold and SPX 500 Marking Time in Trading Ranges12:38
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1 to 2 hours old
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Roxgold: African High Grade Gold12:17
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RBC Capital Raises Continental Gold Price Target to C$4.50 (CNL)12:15
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Turkmenistan unveils gold statue of president11:54
Digital Journal - World
China Sets Up Gold Bullion Fund For Central Banks11:27
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2 to 4 hours old
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Gold eases as Yellen comments shore up dollar11:03
Business Day - Markets
Paul McCartney’s new $21.2M penthouse comes with gold bathroom trimmings11:03
The Financial Express - Industry
Gold – Recovering the lost sheen10:44
The Hindu Business Line - Markets
Key supports limit the downside for MCX Gold10:34
The Hindu Business Line - Markets
Bitgold buys GoldMoney: Is this the start of a new rush into gold investment vehicles?10:07
GoldSeek.com
Gold: Truth is Stranger than Fiction10:07
GoldSeek.com
Why the Economist is wrong on gold09:57
GoldSeek.com
China Creates Gold Investment Fund For Central Banks09:57
GoldSeek.com
Spot gold, copper declines as dollar strengthens09:54
India Info Line
Gold & Silver Market Morning: May-25-201509:47
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This $16 Billion Fund For Gold Mining Could Shift Market Dynamics09:20
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FT.com - Energy, Utilities & Mining
Barrick Gold to sell Cowal mine for $550 mln to Evolution Mining09:09
Proactive Investors (USA & Canada)
China Creates Gold Investment Fund For Central Banks08:55
Gold-Eagle
Best Gold ETFs: The Top 1008:52
Profit Confidential
Russia, Kazakhstan add more Gold to reserves in April08:36
Bullion Street
Gold Forecast: Downtrend To Continue08:28
ForexPros.com - Commodities
The Truth About The Impact Of Interest Rates On The Price Of Gold08:00
Investorideas.com
Gold struggles for direction in holiday-thinned trade08:00
ForexPros.com - Commodities
Kinross Gold Corporation vs Goldcorp Inc.: Which Is a Better Bet?07:58
The Motley Fool (Canada)
Gold dips as Yellen comments shore up dollar07:50
Business Recorder, Pakistan
Gold dips as Yellen's comments shore up dollar07:44
The Economic Times - Commodities
Barrick Gold Sells Its Australian Cowal Mine To Evolution Mining For $550 Million In Cash07:42
Seeking Alpha - Auto Manufacturers
Barrick Gold Corp gets good price for Cowal mine07:26
Financial Post
Aten “Black Gold” Coin Available From AtenPay, SA; Via ANXPRO on July 4, 201507:24
Business Wire (Press Release) - Business
China Sets Up Gold Investment Fund For Central Banks07:24
Zero Hedge
Gold weakens on lacklustre demand; US Fed outcome weighs07:23
The Economic Times
6 to 8 hours old
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Dore Gold appointed foreign ministry chief07:18
Globes
Gold remains flat around USD 1204/Oz07:15
FXstreet
Real impact of interest rates on gold prices07:09
Mineweb - Analysis
Oil Falls Sharply, Gold Inches Up06:58
ForexPros.com - Commodities
Barrick to sell Australian gold mine to Evolution in $550-million deal06:56
The Globe and Mail
This Past Week In Gold06:38
ForexPros.com - Commodities
Gold dips as Janet Yellen's comments shore up dollar06:20
The Economic Times - Market
Wealth Executes Share Purchase Agreement with Coronet Metals Inc. to Acquire the Advanced-Stage Yanamina Gold Property, West-Central Peru06:09
Canada NewsWire (Press Release) - Releases
Gold Creeping Back Towards $120006:07
ForexPros.com - Commodities
Gold, silver recover on buying by jewellers, retailers05:51
Rediff.com - Business

Gold Dips Within Range as Inflation Remains Tepid

by Peter A. Grant

May 22, AM
(from USAGOLD.com) --

Gold remains generally consolidate above the $1200 level. The yellow metal retreated from overseas gains, leaving the three-month high set on Monday at 1232.41 protected for the time being.

Gold retreated intraday after a bigger than expected uptick in core inflation. Inflation, excluding food and energy, rose 0.3% in April. That was just above expectations of 0.2% and was largely driven by housing and healthcare costs. While the year-on-year pace of core inflation held at 1.8%, gains since the beginning of the year suggest inflation may finally be heating up.

But wait you say! Inflation tends to have a positive influence on gold. That is very true, but the initial reaction to U.S. economic data these days always centers on how the Fed will react: Higher inflation may prompt the Fed to hike rates sooner rather than later.

As we noted in yesterday's DMR, there is some rising concern that the 2% inflation objective is not high enough. After all, the Fed has exploded their balance sheet by more than $4 trillion dollars and inflation remains below target.

PCE inflation (Fed's preferred measure) as of March was a mere +0.3% y/y. The April data come out June 01 and consensus is running around unchanged. I therefore continue to believe there is little incentive in the growth, employment or inflation data to warrant a rate hike any time soon. That should continue to underpin the gold market.

In a speech today, Fed chair Yellen reiterated that she believes the Q1 weakness was "transitory." She went on to acknowledge that the more recent data have been "disappointing," but apparently still believes a rate hike this year would be "appropriate"
    if
the economy continues to improve.

Continues to improve? From what benchmark?

Yellen is a smart woman, so I don't think she's delusional. I think she is following the lead of her predecessors at the Fed and being purposefully opaque; feeding the policy hawks and keeping investors from making big bets one way or the other in these precariously overpriced stock and bond markets.

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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