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Oct 24, 2014

Gold posts weekly loss on dollar rise, strong U.S. data

NEW YORK/LONDON (Reuters) – Gold edged lower on Friday and closed down for the week as rallying equity markets and strong U.S. economic data dented demand for the precious metal as an insurance against risk.

Sales of new U.S. single-family homes rose to a six-year high in September, but a sharp downward revision to August’s sales pace indicated the housing recovery remains tentative.

Oct 24, 2014

Gold set to post weekly loss on dollar rise, strong US data

NEW YORK/LONDON, Oct 24 (Reuters) – Gold edged lower on
Friday and was set to close down for the week as rallying equity
markets and strong U.S. economic data dented demand for the
precious metal as an insurance against risk.

Sales of new U.S. single-family homes rose to a six-year
high in September, but a sharp downward revision to August’s
sales pace indicated the housing recovery remains tentative.

Oct 23, 2014

Gold drops as equities surge and physical demand wanes

NEW YORK/LONDON, Oct 23 (Reuters) – Gold fell around 1
percent on Thursday as stronger-than-expected economic data and
upbeat corporate results boosted global equity markets, while
the dollar index held near a one-week high and demand for
physical metal eased.

Bullion posted its second straightly daily loss after data
showed new claims for U.S. unemployment benefits held below
300,000 for a sixth straight week last week, suggesting the
labor market was shrugging off jitters over growth.

Oct 22, 2014

Gold drops on dollar rise, easing physical demand

NEW YORK/LONDON, Oct 22 (Reuters) – Gold dropped on
Wednesday, snapping a two-day rise as weak U.S. inflation data
and a dollar rise prompted bullion investors to take profits
after the previous session’s six-week high.

Bullion came under pressure after the U.S. Labor Department
said consumer prices rose marginally in September, and as the
dollar index rose to a one-week high against a basket of
major currencies on concerns over European banks.

Oct 21, 2014

Gold hits 6-week high on China growth worry, commodities gain

NEW YORK/LONDON, Oct 21 (Reuters) – Gold rose to a six-week
high at above $1,250 an ounce on Tuesday, lifted by broad-based
commodities gains and concerns over an economic slowdown in
China.

A sharp outflow in gold-backed exchange-traded funds and
lackluster Asian physical demand, however, indicate a vulnerable
price outlook for bullion, analysts said.

Oct 20, 2014

Gold up on physical bids, breaks 2-day drop; dollar down

NEW YORK/LONDON (Reuters) – Gold rose on Monday, snapping two straight losing sessions, boosted by a fall in the dollar and renewed physical demand related to Diwali, India’s major bullion-buying event this week.

Earlier, gold rose to $1,248.44 an ounce, near a one-month high, as physical bullion demand picked up ahead of Diwali on Wednesday and the start of the Indian wedding season, when demand is traditionally the strongest.

Oct 20, 2014

Gold rises on physical buying, set to break 2-day drop

NEW YORK/LONDON, Oct 20 (Reuters) – Gold rose on Monday, set
to snap two straight losing sessions, boosted by renewed
physical demand related to Diwali, India’s major bullion-buying
event this week.

Earlier, gold rose to a high of $1,248.44 an ounce, near a
one-month high as physical bullion demand picked up ahead of
Diwali on Wednesday and the start of the Indian wedding season,
when demand is traditionally the strongest.

Oct 17, 2014

Gold set to post weekly gain on economic fears, U.S. Fed view

NEW YORK/LONDON, Oct 17 (Reuters) – Gold dropped on Friday
as U.S. equities rebounded but was still set for a second
straight weekly gain as concerns over the global economy have
raised speculation that the U.S. Federal Reserve could keep
interest rates low for longer.

Palladium rallied 3 percent, partly recovering from
Thursday’s losses, as broad-based gains in global markets lifted
the metal mostly used in auto catalytic converters.

Oct 17, 2014

If U.S. oil crashes below $80 support, it’s $75 or bust

NEW YORK (Reuters) – If U.S. oil prices fall below critical support at $80, they may quickly slide to $75 a barrel or lower, extending the deepest rout in three years, technical analysts said.

U.S. crude prices, down 25 percent since June on worries over sluggish demand and a lack of OPEC supply, spiked abruptly at midday on Thursday, rebounding after holding above $80 per barrel, as some traders bet the slump was overdone.

Oct 16, 2014

Gold flat, supported by slowdown worries; outlook seen weak

NEW YORK/LONDON, Oct 16 (Reuters) – Gold prices were steady
on Thursday, supported by renewed worries about a global
economic slowdown, but bullion’s failure to rally at a time of
extreme volatility in equity and energy markets suggested the
metal could pull back in the near term.

Economic growth fears hit demand expectations for industrial
metals and palladium, which is used mostly by the automobile
industry as a catalytic converter. Palladium dropped 5 percent
briefly before paring losses.