Gold Headlines

Wall Street headed for second straight weekly fall

U.S. consumer prices increase solidly in August: +0.4%

Gold slips from one-week peak as stronger dollar weighs (Reuters)

"A rebound in the U.S. dollar index sent gold prices lower following the European Central Bank's neutral tone last night," said Margaret Yang, a strategist with DailyFx, which covers currency, commodity and index trading. "The mid- to-long-term outlook remains bullish for gold, despite recent consolidation. An ultra-loose monetary policy and low yield environment is cushioning the downside." https://www.reuters.com/article/global-precious/precious-gold-slips-from…

Fear and frustration: Europe's wealthy keep wallets closed

Shares struggle to shake off bearish mood as U.S. tech giants fall anew

Mortgage Rates Slide to Record-Low 2.86% for 30-Year Loans

Turkey Has New Plan to Crack Open Under-the-Mattress Gold Hoard (Bloomberg)

- Turkey is one of the biggest consumers of Gold - Domestic Gold hoard valued at ~40% of GDP - Scheme will let selected jewelers collect gold from citizens & deposit it at state banks https://www.bloomberg.com/news/articles/2020-09-11/turkey-has-new-plan-to-crack-open-under-the-mattress-gold-hoard

Copper hits 1-week low as dollar rebounds, LME inventory rises

Oil extends losses as stockpile rise amid weakening demand

Gold rises 1% as dollar weakens after ECB stands pat on policy (Reuters)

“The ECB didn’t really change its policy and so we are seeing the U.S. dollar dropping here. That’s positive for gold,” said Bart Melek, head of commodity strategies at TD Securities. The dollar fell 0.3%, making gold less expensive for holders of other currencies, as the euro rose after ECB President Christine Lagarde said while it is keeping a close eye on the exchange rate, it is not a monetary policy tool. https://www.reuters.com/article/global-precious/precious-gold-rises-1-as…