Gold Headlines

Bullion Bank Criminal Corruption

Gold climbs to near 1-week high on dollar slide, stimulus optimism (Reuters)

“As we see better prospects for stimulus, we understand there is a tendency to weaken the domestic currency, in this case weaken the dollar and support gold and silver,” said David Meger, director of metals trading at High Ridge Futures. At this point, U.S. Treasury Secretary Steve Mnuchin and House Speaker Nancy Pelosi “slowly coming to terms over the second stimulus plan is obviously a supportive environment,” he added. https://www.reuters.com/article/global-precious/precious-gold…

JPMorgan Admits Spoofing by 15 Traders, Two Desks in Record $920 million Deal (Bloomberg)

Over eight years, 15 traders at the biggest U.S. bank caused losses of more than $300 million to other participants in precious metals and Treasury markets, according to court filings on Tuesday. JPMorgan admitted responsibility for the traders’ actions. The Justice Department filed two counts of wire fraud against the bank’s parent company but agreed to defer prosecution related to the charges, under a three-year deal that requires the bank to report its remediation and…

Fed's Williams sees about three years for full U.S. recovery

U.S. Retail Bankruptcies, Store Closures Hit Record in First Half

Wall Street dips, ends three-day rally ahead of quarter's end, U.S. presidential debate

Gold hits 1-week high ahead of key U.S presidential debate

Sept 29 (Reuters) - Gold steadied on Tuesday, having earlier its highest in almost a week as the dollar retreated, while investors waited for the first U.S. presidential debate and further developments on a new U.S. coronavirus relief bill.

UBS says you should buy gold now (CNBC)

“We like gold, because we think that gold is likely to actually hit about $2,000 per ounce by the end of the year,” Kelvin Tay, regional chief investment officer at UBS Global Wealth Management told CNBC. Gold prices have shot to record highs this year — above $2,000 per ounce for the first time. Recently however, prices have slipped and last traded at around $1,884 per ounce. https://www.cnbc.com/2020/09/29/investing-in-gold-buy-gold-as-prices-weaken-says-ubs-wealth…

Gold steadies ahead of Trump-Biden debate

https://www.reuters.com/article/global-precious/gold-steadies-ahead-of-trump-biden-debate-idUSKBN26K0GT (Reuters) - Gold prices steadied on Tuesday alongside a subdued U.S. dollar, while investors awaited the first U.S. presidential debate and further developments on a new U.S. coronavirus relief bill.

German finance minister defends record debt to continue fiscal splurge in pandemic