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Daily Gold Market Report
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Gold’s Amazing Resiliency11:19
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Gold’s Amazing Resiliency11:14
The Market Oracle - Companies
Gold posts rare winning session, as poor employment data pushes down USD11:13
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Gold & Silver: Volume Set To Surge?11:09
Gold and Silver Markets in Limbo11:08
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In Gold We Trust 201511:08
The Market Oracle - The Market Oracle
30 minutes to 1 hour old
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Gold mine sector puts final offer forward10:49
South African Broadcasting Company - Business
South African Gold Mines See Unions Likely Accepting Pay Offer10:28
Bloomberg - Africa
Timmins Gold Corp. Price Target Cut to C$1.50 (TMM)10:22
Ticker Report - Banking
Teranga Gold Corp Price Target Cut to C$0.60 by Analysts at Scotiabank (TGZ)10:22
Ticker Report - Banking
Scotiabank Lowers Lake Shore Gold Corp Price Target to C$1.30 (LSG)10:22
Ticker Report - Banking
Hope Glimmers for Penny-Pinching Miners Buffeted by Gold Rout10:20
Bloomberg - Gold
1 to 2 hours old
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Gold News Monitor: In Gold We Trust 201510:02
Gold’s Amazing Resiliency10:02
Gold News Monitor: In Gold We Trust 201510:01
FXstreet - Latest Analysis
Temex Terminates Arrangement Agreement with Oban Mining Corporation and Enters into Arrangement Agreement with Lake Shore Gold Corp.09:52
Canada NewsWire (Press Release) - Releases
Miners are running out of gold09:48
Business Insider - Finance
Libya: Gold Workers Face Water Crisis At Chad-Libya Border09:44
Miners are running out of gold09:42
Business Insider UK - Finance
Wage negotiations in S. Africa’s gold sector to end next week09:42
Miners are running out of gold09:41
Business Insider AU - Money Markets
Timmins cuts gold guidance as prices slide09:39
Business News Americas - Mining
Gold price, trade volumes down on month in June: LBM09:38
Canadian Stocks Are Climbing As Gold Rebounds -- Canadian Commentary09:24
Nasdaq - Global Markets
2 to 4 hours old
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Gold’s Stunning Divergence: Sentiment Vs. Price09:18
Investing.com - Commodities
South African unions divided over gold producers' wage offer09:13
Reuters - Industry, Materials & Utilities
Perth Mint & US Mint Cannot Meet Demand As Gold Bullion Demand Surges09:09
The Case For An Explosive Surprise In The Price Of Gold09:09
Goldcorp inc. officially inaugurates its Éléonore Mine, a world-class gold mine in Northern Québec09:01
Canada NewsWire (Press Release) - Releases
Buyers flock to gold as price drops08:55
South China Morning Post - Commodities
Gold perks up at end of tough month08:50
Proactive Investors (UK)
Demand for Gold Bullion Surges – Perth Mint, and U.S. Mint Cannot Meet Demand08:47
The Market Oracle - The Market Oracle
Canada Stocks Rise for 4th Day, Pare July Loss as Gold Rallies08:41
Bloomberg - Raw Materials
Mining Companies, Regulators Deathly Silent after Midnight Raid on Gold Prices08:40
Former Gold Bulls Becoming Bears: Does That Mean Gold Has Reached A Bottom?08:38
Seeking Alpha - Forex
Goldcorp reports record quarterly gold production08:36
Energy Business Review
Chinese gold trade: Silent on strategy08:36
Financial Mail - Money & Investing
Yamana Gold: Not Impressive Once Again08:35
Seeking Alpha - All Articles
Gold strengthens, but stays below USD 1100/Oz08:26
Gold Surges Back Above $1100 As Dollar Dumps After Wage Data08:26
Zero Hedge
Is There Another Leg Down In True Gold Mining Shares?08:24
Seeking Alpha - Investment Ideas
Centerra Gold - Boring Is Good, But Be Prepared For Merger And Acquisition Fireworks08:22
Seeking Alpha - Industrial Goods
Barrick Gold Corp. Upgraded at Canaccord Genuity (ABX)08:18
Ticker Report - Banking
AuRico Gold Receives Consensus Recommendation of “Buy” from Analysts (NYSE:AUQ)08:18
Ticker Report - Banking
Analysts Expect Lake Shore Gold Corp Ordinary Shares (Canada) to Post $0.01 EPS (NYSE:LSG)07:57
Ticker Report - Banking
How are fund managers responding to gold price slump?07:55
Gold's tumble is far from over: Traders07:52
CNBC.com - Investing
Gold is having its worst month in two years07:47
At Less Than $2.50 Per Share, Is Kinross Gold Corporation a Buy?07:46
The Motley Fool (Canada)
Updates on Gold Industry Stocks -- Gold Fields, Eldorado Gold, Alamos Gold, Franco-Nevada, and Primero Mining07:46
PR Newswire (Press Release) - Financial Services

Gold Gains After ECI Miss Undermines September Rate Hike Expectations

by Peter A. Grant

July 31, AM
(from USAGOLD.com) --

Gold began the U.S. session somewhat defensive within the broad range that has dominated for the last two-weeks. However, the yellow metal rebounded sharply intraday after much weaker than expected employment cost data undermined the prospects for a September rate hike.

ECI rose a scant 0.16% in Q2, well below expectations of +0.6%. That's the weakest quarterly rise in salary and wages on record. The annualized ECI rate slowed to +2.0% y/y, versus +2.6% in Q1.

Weakness in wages has been a persistent concern at the Fed and likely will figure into their decision whether to hike rates or not this year. At the press conference following the June FOMC meeting, Chair Yellen said, "There have been some tentative signs that wage growth is picking up. We’ve seen an increase in the growth rate of the (ECI)."

I don't imagine she'd say anything like that today. In fact, today's drop in yields and the dollar are reflective of diminished expectations that lift-off will occur in September. I remain skeptical that it will happen this year at all.

Gold was buoyed by the drop in the dollar, regaining the $1100 level intraday before gains moderated when Chicago PMI beat expectations. Then University of Michigan consumer sentiment was revised lower. As I suggested earlier in the week, given the unevenness of the "recovery," the September FOMC meeting is going to be an interesting one.

A rate hike before year-end is anything but a sure-thing. As that become more apparent, unwinding of long dollar positions could accelerate. That's going to put upward pressure on gold and put the squeeze on the shorts in the paper market.

Société Generale's Albert Edwards warns that we're hurtling toward an "even bigger version" of the 2007-2008 global financial crisis. He expects central banks to spool-up the printing presses yet again. "QE will be stepped up to such a pace that you will hear the roar of the printing presses from Mars," said Edwards.

Gold is a "must-have" safe-haven investment according to Edwards. The time to get you safe-haven, your insurance, is before everyone else realizes they need it too. When it's undervalued. Like gold is now.

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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