GOLD ready to rise!!! (Kitco News) - Gold pr
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Posted On: 05/06/2015 8:46:47 AM
GOLD ready to rise!!!
(Kitco News) - Gold prices are slightly higher in early U.S. trading Wednesday. Prices were modestly lower overnight but received a mild lift when the U.S. ADP national employment report for May came in at up 169,000, which is a miss to the downside. A rise of 205,000 was expected. June Comex gold was last up $2.20 at $1,195.40 an ounce. July Comex silver was last up $0.006 at $16.58 an ounce.
The key “outside markets” on Wednesday morning see Nymex crude oil futures prices solidly higher and have hit a new five-month high above $62.00 a barrel. The U.S. dollar index is weaker and hovering near a four-month low. These two markets are presently in a combined bullish technical posture for the precious metals and the entire raw commodity sector—suggesting that the recent “bust” in the raw commodity cycle has ended and that a “boom” in the raw commodity cycle is just around the corner.
(Kitco News) - Gold prices are slightly higher in early U.S. trading Wednesday. Prices were modestly lower overnight but received a mild lift when the U.S. ADP national employment report for May came in at up 169,000, which is a miss to the downside. A rise of 205,000 was expected. June Comex gold was last up $2.20 at $1,195.40 an ounce. July Comex silver was last up $0.006 at $16.58 an ounce.
The key “outside markets” on Wednesday morning see Nymex crude oil futures prices solidly higher and have hit a new five-month high above $62.00 a barrel. The U.S. dollar index is weaker and hovering near a four-month low. These two markets are presently in a combined bullish technical posture for the precious metals and the entire raw commodity sector—suggesting that the recent “bust” in the raw commodity cycle has ended and that a “boom” in the raw commodity cycle is just around the corner.
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