MAJOR GOLD MARKET INDICATOR SHIFT: TROUBLE FOR FUTURE SUPPLY

One of the major gold market indicators experienced a major shift in 2017.  If we look at this gold indicator over the past several years, this recent trend reversal suggests something has fundamentally changed in the gold market… and in a BIG WAY. According to the World Gold Council, global gold scrap supply declined significantly during the first half of 2017 even though the price of gold increased.  Global gold scrap supply plunged to 563 metric tons (mt) in the first half of 2017 compared...
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News Bites Even if Bitcoin Is The Rising Star, Gold Is Still King

(Kitco News) - Even if bitcoin – known to some as digital gold – is stealing the metal’s spotlight, one analyst points out that the cryptocurrency has a longs way to go before it catches up to bullion, at least in market cap. In dollar terms, bitcoin has surpassed gold prices by a landslide, recently hitting an all-time high above $4,000; meanwhile, gold prices continue to hover near $1,300 an ounce. However, if we look at the market cap of both these markets, gold is still king. “It's ...
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Stocks, U.S. yields fall on U.S. policy doubts, Barcelona attack

NEW YORK (Reuters) - World equity markets and U.S. bond yields fell while gold rose on Thursday as investors favored safe-haven investments amid growing skepticism U.S. President Donald Trump, embroiled in controversy, would achieve his economic agenda. Adding to investor concerns was news that a van had slammed into crowds in the Spanish city of Barcelona, killing 13 people, according to media reports, in an attack police were treating as terrorism. U.S. dollar trading was volatile and U.S. T...
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Dollar Rally, Gold and Bonds Getting Clobbered

The thrill and volatility are gone as the dollar is rallying. Gold and bonds are down big with the bonds down over a full point and Gold down $17 trading at $1,274. Gold is once again at a key decision spot as it falls through $1,280; the pressure from the dollar will be blamed. We will call it profit taking in a rallying equity market. Collapsing volatility is the biggest problem at these levels, with money pouring back into the equity market. This is a solid buying opportunity for gold and ...
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GOLD FIRM BEFORE INFLATION, FED JAWBONING

Inflation Analysts surveyed by Bloomberg say core inflation probably rose 0.2 percent in July. Should they be proven correct when the figures are published at 8:30 a.m. this morning, it would end a four-month string of below-forecast readings. Yesterday, Federal Reserve Bank of New York President William Dudley cautioned that “it’s going to take some time” for headline inflation to return to the central bank’s 2 percent target. The lack of pickup in inflation, despite low unemployment, remains ...
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Gold demand hits eight-year low: industry body

London (AFP) - Gold demand slumped 14 percent in the first half of 2017 to hit the lowest level in eight years as US traders exited the haven investment, the World Gold Council said Thursday. Global demand dropped to 2,004 tonnes in the first six months of the year compared with the first half of 2016, the WGC said in its latest quarterly report. "The last time H1 demand was lower... was in 2009" when it totalled 1,853 tonnes, a spokeswoman confirmed to AFP. Most of the drop in demand came ...
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Gold and Oil Moving Higher Steadily

Gold prices continued to move steadily higher, something which has been happening for the past 3 weeks and it is no longer a surprise. The prices have been moving slow and steady and that is one of the reasons why there has not been any shock and awe with regard to its movement. The euro has also been moving at almost the same speed higher but the euro seems to be getting all the attention as the volatility in the currency is much higher due to the pullbacks, corrections and then the bounces. On...
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News Bites Even If Gold Corrects For Next 2-3 Days, The Trend Still Points Up – Analyst

(Kitco News) - Although the gold market could see a correction for the next few days, the main trend remains up, says one Chicago-based analyst. “A trade through $1249.40 will change the main trend to down. The next major upside target comes in at $1305.50,” noted James Hyerczyk, publisher of The Pattern, Price & Time Report. Gold ended slightly lower Monday after hitting an overnight six-week high. December Comex gold futures last traded at $1,275.80 an ounce, up $0.50 on the day. ...
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Fed says stimulus wind down to begin ‘relatively soon,’ leaves rates unchanged

The Federal Reserve laid the groundwork Wednesday to begin winding down shortly the massive stimulus program it embarked on to rescue the economy from the financial crisis. As expected, the Fed also unanimously declined to raise interest rates this month. After its two-day policy meeting, the Federal Open Market Committee released a statement containing key language that points to starting the move in September. At that time, the central bank will begin rolling off the $4.5 trillion portfolio...
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Today’s Brexit Barometer

By the Bloomberg Brexit Team Last updated: July 28, 2017 The Bloomberg Brexit Barometer rose sharply to 26.7, its highest level in four months, returning it to “cloudy” territory for the first time since late April. New European Commission survey data showed manufacturing confidence at a nearly 20-year high and a healthier mood also in the services sector. This offset mixed consumer confidence signals, with one measure rising from June while another, released by market-research firm GfK,...
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