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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Amber Waves of Grain

Of the 14 commodities we track closely at U.S. Global Investors, wheat rose to take the top spot for the first half of 2017, returning more than 25 percent. The grain was followed closely by palladium—used primarily in the production of catalytic converters—which gained 24 percent. To view our ever-popular, interactive Periodic Table of Commodity Returns, click here. Between the start of the year and June 30, the Bloomberg Commodity Index contracted 4.03 percent, with energy weighi...
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Contributed Commentaries It’s Do or Die for Gold and Silver

(Kitco News) - Being bullish on the metals has been painful; there has been a dramatic drop off in interest as these markets have mostly drifted or got pounded lower. We were and still are bullish but our line in the sand comes right here in the $1,220 area in gold(puking out under $1,200) and the $16.00 level in silver (trading at $15.98, puking out at $15.70). The metals story has been very conflicted with the weight on the dollar and the support levels the metals had the weakness is surpri...
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It’s Do or Die for Gold and Silver

(Kitco News) - Being bullish on the metals has been painful; there has been a dramatic drop off in interest as these markets have mostly drifted or got pounded lower. We were and still are bullish but our line in the sand comes right here in the $1,220 area in gold(puking out under $1,200) and the $16.00 level in silver (trading at $15.98, puking out at $15.70). The metals story has been very conflicted with the weight on the dollar and the support levels the metals had the weakness is surpri...
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Gold heads for first monthly loss this year as rally stalls in Q2

Gold eased on Friday to stay on track for its first monthly loss this year, as hints from leading central banks that the era of easy money may be coming to a close pushed bond yields higher, hurting the non-interest bearing metal. While it is still up 8 percent in the first half, gold has stalled in the second quarter after a strong start to the year, and is little changed from where it ended March. Spot gold was down 0.27 percent at $1,241.91 an ounce, while U.S. gold futures for Augus...
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Gold rebounds from 6-week low as dollar sags ahead of Fed speeches

Gold rose on Tuesday after hitting a six-week low in the previous session as bargain hunting set in and the dollar fell before speeches by U.S. Federal Reserve officials. Fed officials have signaled that they plan to continue on their current trajectory of interest rate hikes despite a slow down in inflation. However, investors are skeptical and market pricing shows only a 40 percent chance of a rise in December. A huge sell order totaling 1.85 million ounces pushed gold to a six-week ...
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Gold Rebounds As U.S. Dollar Sells Off

(Kitco News) - Gold prices are moderately higher in early U.S. trading Tuesday, supported by a sharp daily drop in the U.S. dollar index. Short covering in the futures market and perceived bargain buying in the cash market are also featured after prices Monday hit a five-week low. August Comex gold was last up $4.60 an ounce at $1,251.00. September Comex silver was last down $0.079 at $16.71 an ounce. Focus of the marketplace today is on speeches by major central bankers. European Central Ban...
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Hedge Funds Exit Gold Before Fed Sparks Worst Rout in Month

Hedge funds were smart enough to get ahead of Janet Yellen’s bad news for the gold market. Money managers pared their net-bullish wagers in the metal for the first time in four weeks. The next day, the move was vindicated when Federal Reserve Chair Yellen raised U.S. interest rates and sparked the biggest weekly loss for gold prices in more than a month. After posting gains earlier this year, the precious metal could be heading for a turning point. The Fed reiterated plans for another hike...
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Gold Slightly Down Ahead Of Big U.S. Data Week

(Kitco News) - Gold prices are slightly weaker in early U.S. trading Monday. A lack of new, bullish fundamental developments on the geopolitical front have somewhat limited buying interest in the safe-haven metal, and have allowed some profit taking from the shorter-term futures traders to occur. August Comex gold was last down $1.20 an ounce at $1,270.20. July Comex silver was last down $0.143 at $17.075 an ounce. Focus is on this week’s FOMC meeting that begins on Tuesday morning and ends W...
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Gold gains after disappointing US jobs data

Gold prices rose to a near six-week high on Friday in response to disappointing U.S. non-farm payrolls data that lowered expectations for more aggressive U.S. interest rate increases. Data showed that U.S. job growth slowed in May and employment gains in the prior two months were not as strong as previously reported, suggesting the labor market was losing momentum. A slow recovery in the world's biggest economy dents the likelihood for higher interest rates which benefits non-interest ...
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