Gold Headlines

Scotiabank Will Pay $127.4 Million to Settle Gold & Silver Spoofing Claims

  Bank of Nova Scotia agreed to pay $127.4 million to settle U.S. allegations that the company engaged in spoofing of gold and silver futures contracts, and made false statements to the government. As part of the accord, Bank of Nova Scotia will pay a $17 million fine on Commodity Futures Trading Commission claims that it dramatically misrepresented the scope of the alleged wrongdoing. The bank made multiple false statements during the CFTC’s investigation of a spoofing case…

Fed policymakers zero in on strategy tweaks, minutes show

Federal Reserve policymakers are considering tweaks to monetary policy that could result in the U.S. central bank sticking with aggressive stimulus measures far longer than under its previous rubric, minutes from their last policy meeting showed. The readout of the Fed’s July 28-29 meeting, published on Wednesday, also showed policymakers concerned that a recovery from the economic downturn triggered by the coronavirus pandemic faced a highly uncertain path. For instance, they judged that…

Stocks cut gains after Fed raises concerns about economic outlook amid pandemic

Fed's Bullard - Wall Street 'about right' as U.S. muddles through virus risk

Apple becomes first U.S. company to reach a $2 trillion market cap

Gold prices pull back from $2,000 mark as dollar’s skid abates

BofA's Francisco Blanch on the Gold Rebound (bloomberg tv)

Oil slips as demand worries outweigh U.S. stocks draw

Gold dips below $2,000 as dollar steadies; Fed minutes in focus (Financial Post)

“Gold is down as the U.S. dollar strengthened slightly this morning. In the short term, a rebound in the USD might inhibit the rally in gold,” said DailyFx strategist Margaret Yang. “Gold has registered a 3% gain over the past two days, rendering the metal prices vulnerable to profit-taking activities.” The dollar index edged 0.1% higher against its rivals after hitting a more than two-year low in the last session. A stronger greenback makes gold expensive for holders of other…

Morgan Stanley just picked this year’s best safe-haven currency