Treasury Secretary Steven Mnuchin had a busy day today: shortly after warning once again that a US debt ceiling deal has to be done by late September or else the country would run out of cash and suffer a technical default, roughly around the time he hinted that Trump may keep carried interest tax..
Russia continues buying large quantities of gold. In July, Russia’s Central Bank purchased 9.1 tons of gold. According to Deputy Foreign Minister Sergei Ryabkov, because of new US sanctions, Russia is forced to start developing a system, within which the dollar will not be needed. Pravda…
This week for the first time – in the name of “transparency” – the London Bullion Market Association unveiled that as at 31 March, 2017 there were 7,449 tonnes of gold, or 596,000 gold bars, valued at $298 billion sotred in the vaults around London as well as $19 billion in silver…
(Dr. Joseph P…
Gold remains well bid, within striking distance of the 6-week high established last week at 1270.83. Fresh 6-week highs would return focus to the high for the year set in early-June at 1296.06. June personal income disappointed, coming in unchanged, against expectations of +0.4%…
Gold jumped to a new 6-week high in the wake of this morning’s disappointing Q2 GDP data. The dollar has already retraced most of yesterday’s bounce, lending ongoing support to the yellow metal. The advance Q2 GDP print was in line with expectations of 2.
LONDON (Reuters) – Gold held near six-week highs on Friday though its recent rally appeared to falter as investors awaited U.S. gross domestic product (GDP) data for more clues about the pace of U.S. monetary policy tightening. Stronger than expected growth would leave the U.S.