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Gold keeps gains to trade near one-month …19:47
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Kula Gold completes oversubscribed institutional placement18:14
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Hint of gold import curb after Diwali17:08
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Gold price: ETF investors, hedge funds catch up to rally16:58
Mining.com
Newcrest's gold production falls16:48
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Newcrest's gold production falls16:47
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Newcrest's gold production falls16:46
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Newcrest's gold production falls16:38
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What The Strong Dollar Does With The Price Of Gold15:57
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Centre may slap gold curbs again15:44
The Asian Age - Business
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Reuters.co.uk - Regulatory News
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CANADA STOCKS-TSX advances with gold miners, Valeant15:21
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MARKET REPORT: Oil companies weigh heavily on markets as recent slump in price of black gold spooks investors15:01
This is Money - Investing & markets
Curbs on gold imports likely after Diwali14:43
The Statesman - Business
Gold up on physical bids, breaks 2-day drop; dollar down14:37
Reuters - Business
Gold up on physical bids, breaks 2-day …14:35
Yahoo! India
What the Strong Dollar Does to Yellow and Black Gold and Why We’re Seeing Green14:32
GoldSeek.com
Update: TriMetals Mining Reports Extensive Mineralization On Its Gold Springs Property14:30
SeekingAlpha - Industrial Goods
The close: TSX ends higher as gold miners, Valeant gain14:29
The Globe and Mail
CANADA STOCKS-TSX ends higher as gold miners, Valeant gain14:22
Reuters.co.uk - Markets - Canada
Gold Seeker Closing Report: Gold and Silver Gain Almost 1% While Miners Gain 2%14:22
GoldSeek.com
CANADA STOCKS-TSX ends higher as gold miners, Valeant gain14:21
Reuters - Canada Market Report
Stocks Green Despite Big Blue; Greenback & Black Gold Red14:16
Zero Hedge
Gold up at $1,244; U.S crude down at $82.7114:01
Proactive Investors (USA & Canada)
Earlier Today
www.usagold.com --LIVE NEWS--
Gold import curbs could be back after Diwali13:31
Hindustan Times - Business
Klondex bolsters forecast for recovered gold ounces in 2014 on strong Q3 results13:22
Proactive Investors (Australia)
Klondex bolsters forecast for recovered gold ounces in 2014 on strong Q3 results13:19
Proactive Investors (UK)
Ebola Armageddon Could Trigger a Rebirth in Gold and Silver Prices13:12
The Market Oracle - The Market Oracle

Gold Higher on Growth Risks, Stock Market Volatility

by Peter A. Grant

October 20, AM
(from USAGOLD.com) --

Gold firmed in overseas trading to pressure last week's high at 1249.63. The yellow metal is being underpinned by persistent worries over global growth risks and deflationary pressures, and the resulting stock market volatility.

German producer price inflation fell to -1.0% y/y in September, from -0.8% y/y in August, even as the ECB commenced covered bond purchases. The ECB is expected to begin it's ABS purchases before the end of the year. The central bank also remains under pressure to escalate to sovereign bond purchases.

Japanese PM Abe is now considering forestalling the second part of the consumption tax hike. The Abe government hiked the consumption tax from 5% to 8% in April and the economy promptly fell off a cliff, contracting 7.1% in Q2.

In recent weeks Abe had pledged to proceed with the second phase of the tax hike, moving the rate up to 10%. But suddenly he has some concerns. “By increasing the consumption tax rate if the economy derails and if it decelerates, there will be no increase in tax revenues so it would render the whole exercise meaningless,” Abe said.

You might have considered that possibility before you did the first hike. All this means though, is that the Abe government will continue to run up debt in their attempt to stoke inflation, without doing more to address the revenue side of the equation. Japanese savers are going to suffer even more and the savvy ones are likely buying gold.

Providing additional support to gold is "extraordinary" physical demand in China:
"...the latest data from the Shanghai Gold Exchange (SGE) shows the Chinese have been buying extraordinary amounts of gold before and after this holiday." — Koos Jansen
We saw robust Chinese demand on gold's previous tests of the $1200 zone. The drop early in the month to 1182.79 was apparently no exception. The Chinese know a bargain when they see one.

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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