Gold Headlines

Gold prices log first loss in 4 sessions

“Early vaccine hopes are getting dashed” each day and “no one really knows” when additional U.S. stimulus will be announced, Chintan Karnani, chief market analyst at Insignia Consultants, told MarketWatch. “Nervousness over stimulus has caused gold and silver prices to fall. “

Gold slides nearly 2% on dollar rally, IMF silver lining

Oct 13 (Reuters) - Gold fell as much as 1.9% on Tuesday, hitting below $1,900 an ounce, as the dollar rallied on an impasse over U.S. stimulus and as investors latched onto a slightly less stark economic report card from the International Monetary Fund. Spot gold fell 1.7% at $1,890.01 per ounce by 10:33 a.m. EDT (1433 GMT). U.S. gold futures lost 1.8% to $1,893.70.

India Gold Imports Dip After Brief Rebound as Prices Curb Demand (Bloomberg)

Inbound shipments into the world’s second-biggest bullion consumer fell 38% in September from a year earlier to 8.4 tons, according to a person familiar with the data, who asked not to be identified as the information isn’t public. Imports were down from 35.5 tons in August. Finance Ministry spokesman Rajesh Malhotra didn’t immediately respond to a call to his mobile phone.  

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Dow snap four-day winning streak as J&J vaccine worries weigh

Used vehicles lift U.S. consumer prices, but inflation slowing

Gold prices poised to log first loss in 4 sessions

However, a number of investors remain bullish on the prospects for the metal in the longer term, amid lingering uncertainties around politics and the expectations that greater government budget deficits will support higher prices for gold and other precious commodities. “Gold should continue to rise as the stimulus stalemate might only last a little while beyond the election,” wrote Edward Moya, senior market analyst at Oanda, in a Tuesday note.

IMF revises its global GDP forecast higher, but warns the economy ‘remains prone to setbacks’

Gold steadies as stimulus hopes offset stronger dollar (Reuters)

(Reuters) - Gold steadied on Tuesday, buoyed by optimism a U.S. stimulus package would eventually be passed, bolstering the metal’s appeal as an inflation hedge although gains were capped by a firmer dollar.

Shale binge has spoiled US reserves, top investor warns (FT)