Gold Prices Down, But Not Out After Fed Leaves Rates Unchanged

(Kitco News) – The gold market, while down on the day, is seeing little reaction to the Federal Reserve leaving interest rates unchanged and setting the stage for another interest rate hike in December.


Following its two-day monetary policy meeting, the U.S. central bank left interest rates unchanged within a range between 2.00% and 2.25% as expected. However, in its statement, the committee reiterated its expectations to continue down the path of gradual tightening.

“The Committee expects that further gradual increases in the target range for the federal funds rate will be consistent with sustained expansion of economic activity, strong labor market conditions, and inflation near the Committee’s symmetric 2 percent objective over the medium term,” the central bank said in its statement. “Risks to the economic outlook appear roughly balanced.”

The Federal Reserve’s continued commitment to raising interest rates continues to support the U.S. dollar, which in turn, weighs on gold prices. December gold futures last traded at $1,226.80 an ounce, down 0.15% on the day.

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Gold prices post a modest decline as dollar weakens ahead of midterm vote – MarketWatch


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Gold prices posted a slight decline on Monday, holding above $1,230 an ounce for a third straight session as traders eyed some weakness in the U.S. dollar a day ahead of the closely watched midterm elections.

“Stepping back from today’s price action, what is most interesting for gold is how well it has held its ground despite a significant rally in the U.S. Dollar Index in recent weeks,” Michael Armbruster, managing partner at Altavest, told MarketWatch. “When it comes to gold, it’s easy to be lulled into a sense of complacency when the U.S. dollar is trending higher along with interest rates.”

Gold for December delivery GCZ8, -0.37%  edged down $1, or less than 0.1%, to settle at $1,232.30 an ounce, squarely between the day’s high of $1,236.60 and low of $1,228.40.

The contract ended last week slightly lower after a report showed a U.S. job market that was even stronger than expected—data seen keeping the next Federal Reserve interest-rate hike likely on track for December. Higher rates dull the appeal of nonyielding bullion, while boosting the dollar, making dollar-priced commodities less attractive to investors using other currencies.

Still, data Monday showed the nonmanufacturing index compiled by the Institute for Supply Management slipped to 60.3 last month from a 21-year high of 61.6 in September.

The dollar continued its decline after the ISM services survey, with the ICE U.S. Dollar index DXY, -0.06% down 0.3% at 96.286 in Monday dealings. Last Thursday, gold settled at its highest level in more than three months when the index weakened and as stock markets wrapped up a dismal October.

“Increased risk aversion with the equity markets’ selloff has certainly added a risk-averse boost to gold in recent weeks, but if the dollar starts to lose traction due to the reversal of the U.S.-China trade dispute, then this could be a driver of continued gold strength,” said Richard Perry, analyst at Hantec Markets.

Perry is watching $1,236 as a technical “line in the sand” for gold and says a consistently higher market at that price opens the way to a climb toward $1,266.

Armbruster pointed out that “investors should keep in mind that central banks around the world (China, Russia and others) are reportedly adding to their gold holdings. Such behavior by central banks may trump headwinds from the dollar and interest rates and result in a surprise rally.”

Read more via Gold prices post a modest decline as dollar weakens ahead of midterm vote – MarketWatch

6 Things Your Dental Hygienist Wishes You Wouldn’t Do When It Comes To Your Oral Health


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Brush your teeth and…? Photo by Pixabay on

My name is Jordan and I do not love flossing. Look, I get it: It’s very important to floss as part of your oral hygiene. It can prevent long-term dental problems, and it makes getting your teeth cleaned much more bearable. I have no problems sticking to a healthy brushing routine, mostly thanks to the freshness I feel after spending two minutes taking care of my teeth. But aside from neglecting to floss on the reg, it turns out there are a number of things your dental hygienist wishes you wouldn’t do, and TBH, I’m guilty of pretty much all of them.

Natica Boland, a registered dental hygienist at Aspen Dental, spoke with Elite Daily over email about some of the common problems she sees while treating patients, and I have to admit, I’m feeling very seen right now, guys.

The thing is, it’s all too easy to see and feel the benefits of taking care of your body in other ways, whether that’s following a fitness routine or nourishing yourself with plenty of nutrient-rich foods. But for me, at least, taking care of my teeth feels like something I do just so that I don’t shock people with dragon breath.

In other words, taking care of your dental health can often feel like a chore, rather than something that brings you any noticeable benefits — but Boland says this mindset is a huge problem. Here are a few things she says you shouldn’t do when taking care of your dental health.

Find out more via 6 Things Your Dental Hygienist Wishes You Wouldn’t Do When It Comes To Your Oral Health

More Upside For Gold Prices


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This month’s rally in gold prices may not be over.

That’s because investors are still heavily betting on a decline in the value of the precious metal. When speculators overwhelmingly bet in one direction then a move in the opposite way is often the result.

Bars of gold bullion. Rob Bennett/AP Images for APMEX

On October 1, I wrote that speculators were betting so heavily on a further decline in gold prices that we’d likely see a rally. You can read the story here. Starting late January gold prices tumbled until they reached a recent low in mid-August.

However, even as the price stabilized traders held onto those so-called short positions, also known as bets on a decline in prices, and kept betting on further falls in the price.

By early October the negative bets became extreme and hence increased the likelihood of a gold price rally.

Read more via More Upside For Gold Prices

Tooth Wizard Teaches Scott Elementary Students How to Fight Tooth Decay – Herald Publications


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Tooth Wizard Teaches Scott Elementary Students How to Fight Tooth Decay


SCOTT AFB – Poor oral health and tooth decay can cause discomfort and result in young students having difficulty participating or concentrating in school. Nearly 40 percent of children in Illinois have had a cavity in the past year, and about one in five kids in Illinois has untreated tooth decay.1 To help kids learn about the importance of good oral health and how to fight decay, Tooth Wizard and PlaqueMan, characters from the Delta Dental of Illinois Foundation’s Land of Smiles program, visited students at Scott Elementary School on Oct. 18.
Although largely preventable with good oral health habits, the U.S. Surgeon General identifies tooth decay as the most common chronic childhood disease. Illinois children’s oral health habits could use improvement. According to the 2018 Delta Dental of Illinois Children’s Oral Health Survey, more than 43 percent of Illinois children brush their teeth once a day or less and nearly three-quarters floss their teeth less than once a day.2

“Our recent Children’s Oral Health Survey shows that Illinois children can greatly benefit from oral health education, which is a part of our mission,” said Lora Vitek, director of philanthropy and community relations, Delta Dental of Illinois Foundation. “Land of Smiles helps children learn about the importance of taking care of their teeth in a fun way. By teaching them why brushing, flossing and using mouthwash with fluoride should be parts of their daily routine, we hope to reduce the number of young children with cavities or poor oral health.”
Scott Elementary students began their oral health journey by helping the heroic Tooth Wizard defeat his arch nemesis, PlaqueMan, by learning the habits needed to have healthy smiles and bodies. Children got involved in the fun during the interactive performance, helping demonstrate how to correctly brush, floss and use fluoride rinse, which caused PlaqueMan to scurry off the stage in defeat. The free Land of Smiles program also taught children the importance of eating smile-friendly foods, visiting the dentist regularly and having sealants applied.
The Land of Smiles program seeks to combat poor oral health. The Oral Health in Illinois report, released in 2016 and sponsored by Delta Dental of Illinois Foundation and others, found that poor oral health is one of the most pressing, unmet health care issues facing Illinois children – particularly for those living in poverty and rural areas. In fact, the report found that one-third of Illinois children in rural areas have untreated tooth decay, and Illinois children living in poverty are five times more likely to have fair or poor oral health.3
“Prevention is key to reducing and eliminating tooth decay,” said Vitek. “Oral health education provided by the Land of Smiles program helps children keep their smiles healthy to prevent tooth decay in the first place, so they can avoid missing school due to oral health problems.”
In addition to the oral health lesson, children who participated in Land of Smiles received an oral health kit with a toothbrush, toothpaste, floss and a booklet packed with oral health tips. The school also received a curriculum kit to help educators reinforce good oral health habits with students throughout the year.
In 2018, the Land of Smiles program will reach nearly 38,000 pre-kindergarten through third-grade students in nearly 175 Illinois elementary schools throughout the state. The program has reached over 330,000 students at more than 800 Illinois schools in the past 10 years.
For those interested in requesting a Land of Smiles appearance at their school, visit
About Delta Dental of Illinois Foundation – 0The Delta Dental of Illinois Foundation was formed in March 2008 by Delta Dental of Illinois, a not-for-profit dental service corporation with a mission to improve the oral health of the communities it serves. Delta Dental of Illinois Foundation is the 501(c)(3) charitable arm of Delta Dental of Illinois and works to support and improve the oral health of people in Illinois. In the past decade, combined efforts of Delta Dental of Illinois and Delta Dental of Illinois Foundation have provided more than $5 million to programs in Illinois that improve the oral health of the residents.

Gold prices dip on strong dollar, equities rebound | Reuters


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(Reuters) – Gold prices fell on Thursday on a strong dollar and a rebound of stocks following a multi-day sell-off globally, taking steam out of bullion’s momentum.

Prices had risen to $1,239.22 earlier, near a more than three-month high of $1,239.68 hit on Tuesday as the stock market sell-off spurred interest in gold, considered a safer investment.

U.S. gold futures GCcv1 settled up $1.3, or 0.11 percent, at $1,232.40

“With equities being higher today, gold is unable to sustain a rally,” said Bob Haberkorn, senior market strategist at RJO Futures, adding that investors looking for safety are opting for Treasuries instead. [US/]

“Normally you would see gold trading significantly higher with this volatility, concerns in equity markets and global economic slowdown. But the fact that the U.S. Federal Reserve is hawkish, gold is having a hard time sustaining any rallies.”

The government said earlier that the number of Americans receiving unemployment benefits fell to more than a 45-year low, a sign to tight labour market conditions. That will likely keep the U.S. central bank on course to raise interest rates again in December. [nUSNPLEEMN]

Prospects of higher U.S. interest rates are negative for dollar-priced gold as they raise the opportunity cost of holding the bullion.

“The options expiry on Thursday is also dampening volatility in gold as between $1,225 and $1,230. There were about 1.5 million ounces of options that were open, allowing people to play around the range,” said Tai Wong, head of precious and base metals trading at BMO.

via Gold prices dip on strong dollar, equities rebound | Reuters

Short Sellers Beware: Gold “Must Go Higher” – Edelson Institute | Kitco News


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The cost of acquisitions has now fallen below the cost of exploration for major miners, and gold prices could benefit from a dwindling resource supply, this according to a recent report from the Edelson Institute.

Sean Brodrick of the Edelson Institute said that if gold prices don’t advance higher from here, many miners are likely to go out of business.

“If companies go out of business, and the only ‘new’ gold ounces come through acquisitions, that means gold supply will go down. And as surely as dawn follows night, prices will go up,” Brodrick said.

His comments come as Barrick Gold recently announced a merger with Randgold, forming the world’s undisputed largest gold miner.

According to the report, the cost of finding gold through exploration has climbed eight-fold since 2007, and gold miners are using up the resources in the ground.

Read more via Short Sellers Beware: Gold “Must Go Higher” – Edelson Institute | Kitco News

PRECIOUS-Gold steady as robust U.S. economy outlook stems safe-haven buying | Reuters


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* SPDR Gold holdings down 4.5 million ounces since April

* U.S. 10-year Treasury yields highest since 2011

* Dollar near 11-month highs against Japanese yen (Recasts with prices paring gains, adds comments)

By Swati Verma

BENGALURU, Oct 4 (Reuters) – Gold steadied on Thursday as positive U.S. economic data and prospects of tighter monetary policy offset limited gains from safe haven buying.

Spot gold was up 0.1 percent at $1,197.87 an ounce by 2:14 p.m. EDT (1814 GMT). U.S. gold futures settled down $1.30, or 0.11 percent, at $1,201.60.

Read more via PRECIOUS-Gold steady as robust U.S. economy outlook stems safe-haven buying | Reuters


PRECIOUS-Gold rebounds as risk appetite wanes | Metals & Mining | Reuters

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* MSCI Asia-Pacific index falls more than 1.5 pct

* Market awaits Fed Chair’s speech later on Tuesday (Updates prices, adds quotes)

By Vijaykumar Vedala

BENGALURU, Oct 2 (Reuters) – Gold prices rebounded on Tuesday as risk appetite faded after getting a boost from an agreement between the United States and Canada to salvage a North American free trade deal.

Asian stocks fell, with MSCI’s broadest index of Asia-Pacific shares outside Japan declining more than 1.5 percent after a steady start, as cautious views on the global economy curbed risk sentiment.

Spot gold was up 0.5 percent at $1,193.80 as of 0748 GMT, after declining about 0.3 percent in the previous session. U.S. gold futures were 0.5 percent higher at $1,197.60 an ounce.

“Gold has been nudging higher as risk has been trading a bit unsettled in Asia,” said Stephen Innes, APAC trading head at OANDA in Singapore.

Optimism surrounding a last-minute deal between the United States and Canada on Sunday to salvage NAFTA as a trilateral pact with Mexico, had increased the appetite for riskier assets on Monday.

read more via PRECIOUS-Gold rebounds as risk appetite wanes | Metals & Mining | Reuters

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Gold set for longest monthly losing streak in 2 decades


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Gold hit a fresh six-week low on Friday as the dollar firmed after upbeat U.S. economic data supported the Federal Reserve’s resolve for steady interest rate hikes, putting the metal on track for its longest monthly losing streak since January 1997.

Gold was down about 1.6 percent in September, its sixth straight monthly loss.

Spot gold rose 0.9 percent to $1,192.53 an ounce. The metal touched its lowest since Aug. 17 at $1,180.34 an ounce earlier in the session, dipping further from a six-week low of $1,181.61 hit on Thursday.

U.S. gold futures rose 0.7 percent at $1,196.10 an ounce.

The dollar gained against its peers on Friday as data showed U.S. economic growth accelerated in the second quarter at its fastest pace in nearly four years. Another report showed durable goods rose 4.5 percent in August, rebounding from a revised 1.2 percent drop the month before.

The short-term outlook is bearish for gold as the dollar may see some upside due to an ongoing trade war between China and the U.S. and the Federal Reserve interest rate hike outlook, according to Argonaut Securities analyst Helen Lau.

The Fed raised interest rates on Wednesday and said it planned four more increases by the end of 2019 and another in 2020.

“Robust U.S. economic fundamentals despite an escalation in trade tariffs have done little to lift demand for the non-interest bearing asset,” said Benjamin Lu, commodities analyst at Phillip Futures.

“The outlook for gold prices in the current term remains dim as such in lieu of rising rates and yields amidst buoyant U.S. economic conditions.”

Gold is down more than 13 percent from an April high, largely because of the stronger dollar, which has been boosted by a vibrant U.S. economy and fears of a global trade war. Investors have bought the greenback instead of gold as a safe investment.

Meanwhile, President Donald Trump’s accusation of Chinese meddling in the upcoming U.S. elections marks a new phase in an escalating pressure campaign against Beijing that Washington is pursuing on multiple fronts, senior U.S. officials said on Thursday.

“The trade war continues to favour the U.S. dollar and this will generally dampen gold’s upside,” said Nicholas Frappell, global general manager, ABC Bullion, Australia.

“Large speculative shorts may help cushion weakness as punters keep an eye on levels to close out and take money off the table,” he said.

Among other metals, palladium touched a fresh eight-month high at $1,088.97 an ounce. Silver rose 3.4 percent to $14.68 an ounce and platinum was up 0.7 percent to $815.24.

via Gold set for longest monthly losing streak in 2 decades