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Nov 21, 2014

Gold hits 3-week high after China rate cut, ECB comments

NEW YORK/LONDON, Nov 21 (Reuters) – Gold climbed above
$1,200 an ounce on Friday to its highest in three weeks, helped
by short-covering and after a surprise interest rate cut by
China fueled hopes that demand would rise in the world’s biggest
consumer of the metal.

Also underpinning gold’s inflation-hedge appeal were remarks
by European Central Bank President Mario Draghi that opened the
door for more drastic measures to prevent deflation. In
addition, the ECB said it had started buying asset-backed
securities, in a move to encourage banks to lend and revive the
economy.

Nov 20, 2014

Gold rises as price drop tempts physical buyers

NEW YORK/LONDON, Nov 20 (Reuters) – Gold rose on Thursday on
data showing rising U.S. inflation, and after the previous day’s
1-percent drop triggered renewed physical interest by
price-sensitive Asian buyers.

Bullion investors focused on U.S. Labor Department data
which showed underlying inflation pressures rose in October,
even though that also bolstered expectations of a mid-2015
interest rate hike from the Federal Reserve.

Nov 19, 2014

Gold down in volatile trade; Swiss referendum support weakens

NEW YORK/LONDON, Nov 19 (Reuters) – Gold fell in choppy
trade on Wednesday after a poll showed weaker support among
Swiss voters for a referendum that would force the central bank
to boost its gold reserves.

The metal’s price slid as much as 1.8 percent after the
opinion poll showed support for the Swiss gold proposal slipped
to 38 percent from 44 percent in October.

Nov 19, 2014

Silver demand to fall 7 percent in 2014 – Thomson Reuters GFMS

NEW YORK (Reuters) – Demand for silver will post a 7 percent decline in 2014 because of a slower pace of buying by jewelers and industrial fabricators in the first three quarters of the year, metals consultant Thomson Reuters GFMS said on Tuesday.

Harmonized European sales tax rates that started in January have driven up retail silver investment product prices, reducing demand on the continent, the Thomson Reuters unit said in an interim market review.

Nov 18, 2014

Gold rises, briefly breaks $1,200/oz as dollar drops

NEW YORK/LONDON, Nov 18 (Reuters) – Gold climbed nearly 1
percent on Tuesday, briefly breaking above $1,200 an ounce, as
the dollar fell against the euro due partly to
better-than-expected German investor sentiment data.

Bullion investors largely ignored an unexpected rise in U.S.
producer prices in October, which showed an underlying trend
that continued to point toward an environment that could bolster
the Federal Reserve’s resolve to maintain very low interest
rates a bit longer.

Nov 17, 2014

Gold eases off two-week high as dollar gains on Japan recession

NEW YORK/LONDON (Reuters) – Gold eased from a two-week high hit earlier on Monday as the dollar rose on news that Japan had slipped into recession, and strong technical resistance could also further limit bullion’s gains in the near term, analysts said.

The dollar surged to a seven-year peak against the yen after data showed Japan’s gross domestic product (GDP) shrank by an annualized 1.6 percent in July-September, after plunging 7.3 percent in the second quarter.

Nov 17, 2014

Gold retreats from two-week high as dollar gains on Japan recession

NEW YORK/LONDON, Nov 17 (Reuters) – Gold retreated from a
two-week high hit earlier on Monday as the dollar rose on news
that Japan had slipped into recession, and strong technical
resistance could also further limit bullion’s gains in the near
term, analysts said.

The dollar surged to a seven-year high against the yen after
data showed Japan’s gross domestic product (GDP) shrank by an
annualized 1.6 percent in July-September, after plunging 7.3
percent in the second quarter.

Nov 15, 2014

Paulson hangs on to gold in third quarter; Soros cuts back

NEW YORK (Reuters) – Hedge fund Paulson & Co maintained its stake in the world’s biggest gold-backed exchange-traded fund, SPDR Gold Trust, in the third quarter, bolstering the confidence of bullion investors at a time when an improving U.S. economic outlook pummeled gold prices.

Legendary investor George Soros, however, has sharply cut his stake in Barrick Gold Corp and several gold mining company ETFs after boosting his investments in the metal during the second quarter.

Nov 14, 2014

Gold soars on short-covering, new fund buying as dollar falls

NEW YORK/LONDON, Nov 14 (Reuters) – Gold surged over 2
percent on Friday to just shy of $1,200 an ounce, as short
covering, fund buying and a sudden weakening of the dollar
offset better-than-expected U.S. data that signaled an
improvement in the world’s top economy that diminished demand
for safe-haven metals.

Bullion bolted more than $40 midmorning in New York after
dropping more than 1 percent in early trade to test the $1,145
level, where strong support was seen twice in the last four
sessions, triggering pre-weekend short covering.

Nov 13, 2014

Gold down on drop in oil prices, bright US outlook

NEW YORK/LONDON, Nov 13 (Reuters) – Gold fell on Thursday,
as another sharp pullback in crude oil prices and improving U.S.
jobs data decreased bullion’s appeal as a hedge, and continued
outflows from gold-backed ETFs suggested the precious metal is
susceptible to further losses.

Weighing heavily on the gold market was a nearly 4 percent
drop in oil prices after government data showed U.S. crude
stockpiles surged at the delivery point for crude futures. Oil
prices have slumped some 30 percent since Brent hit a June high
above $115 on fears of an oil glut.