PRECIOUS-Gold inches down on robust dollar; Italy crisis curbs losses

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landis refining, dental industry, scrap metal, purchase gold, purchase dental scraps* Dollar near 6-1/2 month peak
* Italy crisis sparks stock sell-off
* China says ready to fight back if U.S. ignites trade war
* SPDR gold holdings rise 0.35 pct on Tuesday

By Karen Rodrigues
BENGALURU, May 30 (Reuters) – Gold prices edged down on
Wednesday as a robust U.S. dollar weighed on the market, but
concerns about political turmoil in Italy and Sino-U.S. trade
conflict limited losses.
Spot gold was 0.2-percent lower at $1,296 per ounce
by 0736 GMT.
U.S. gold futures for June delivery were down 0.3
percent at $1,295.40 per ounce.
“The stronger dollar is the most significant headwind,” said
Stephen Innes, APAC trading head at OANDA.
“With the yellow metal’s sensitivity to the U.S. dollar on
full display, it is unlikely gold will move significantly higher
until we reach the EU ‘Crisis Zone’ which we are nowhere near at
this stage.”
The dollar index , which measures the greenback
against a basket of six major currencies, hovered near its 6-1/2
month peak touched in the previous session.
Investors fear that repeat elections in Italy – which could
come as soon as July – may become a de-facto referendum on
Italian membership of the currency bloc and the country’s role
in the European Union.
“People are really worried about what’s happening in Europe
and the U.S.-China trade tensions … we also see U.S. bond
yields drop,” said Richard Xu, a fund manager at HuaAn Gold,
China’s biggest gold exchange-traded fund.
U.S. benchmark 10-year Treasury yields on Tuesday registered
their largest one-day drop since Brexit nearly two years ago.

Meanwhile, China on Wednesday lashed out at Washington’s
unexpected statement that it still holds the threat of imposing
tariffs on $50 bln of Chinese goods, saying Beijing was ready to
fight back if Washington was looking to ignite a trade war.

“That (U.S.-China conflict) is driving down risk appetite,
hence the stock markets are tanking,” Xu said.
Asian stocks extended a global sell-off on Wednesday as
Italy’s political crisis rippled across financial markets.

Holdings of SPDR Gold Trust , the world’s largest
gold-backed exchange-traded fund, rose 0.35 percent to 851.45
tonnes on Tuesday.
In other precious metals, spot silver was down 0.6
percent at $16.28 an ounce.
Platinum fell 0.4 percent to $900.45 an ounce, while
palladium was 0.2-percent lower at $977.31.

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PRECIOUS-Gold rises as dollar backs off highs after Fed meeting minutes | Reuters

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Gold nugget

By Renita D. Young and Zandi Shabalala

NEW YORK/LONDON, May 23 (Reuters) – Gold prices rose on
Wednesday as the U.S. dollar backed off its highs against a
basket of currencies while investors interpreted minutes from
the U.S. Federal Reserve’s latest policy meeting as dovish.
Most Federal Reserve policymakers thought it likely another
interest rate increase would be warranted “soon” if the U.S.
economic outlook remains intact, minutes of the central bank’s
last policy meeting showed.
Higher interest rates make non interest-bearing assets like
gold less attractive.

However sentiment was dovish, said Bob Haberkorn, senior
market strategist at RJO Futures. “They’re backing off the
inflation target at 2 percent. Just them saying that signals
that [the Fed is] dovish on rates and it doesn’t sound very
aggressive. That should be supportive for metals.”
Policymakers once again debated the inflation path. Several
noted that recent wage data provided “little evidence” of
overheating in the labor market, while some others saw a risk
that “supply constraints would intensify upward wage and price
pressures, or that financial imbalances could emerge.”
Spot gold gained 0.3 percent at $1,294.19 per ounce
by 2:35 p.m. EDT (1835 GMT), after touching its highest since
May 15 at $1,297.84. U.S. gold futures for June delivery
settled down $2.40, or 0.2 percent, at $1,289.60 per ounce.
The dollar, in which gold and other commodities are priced,
rose versus a basket of currencies but came off its
highs.

Often used to store wealth in times of political or economic
uncertainty, gold was underpinned by safe-haven support after
U.S. President Donald Trump said he was not pleased about recent
talks with China.

Gold also saw some safe-haven support after President Sergio
Mattarella gave political novice Giuseppe Conte a mandate to
lead the first government in Italy made up of anti-establishment
parties that have vowed to shake up the European Union,
Haberkorn added.

Trump also cited a “substantial chance” his summit with
North Korean leader Kim Jong Un will not take place as planned
on June 12 amid concerns that Kim is resistant to giving up his
nuclear weapons.

Gold has shown reduced volatility in the last few trading
sessions as it attempted a break above $1,300 and prices are
“waiting for a new, clear direction,” said ActivTrades chief
analyst Carlo Alberto De Casa.

Silver fell 0.4 percent at $16.45 an ounce and
platinum was 0.2 percent lower at $904.30 an ounce.
Palladium eased 1.2 percent to $979.10 an ounce.

via PRECIOUS-Gold rises as dollar backs off highs after Fed meeting minutes | Reuters

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PRECIOUS-Gold hits 5-month low as U.S. trade war with China ‘on hold’ | Reuters

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* Dollalandis refining, dental industryr index climbs to five-month high

* China, U.S. have great potential for cooperation- Chinese state
media
* Specs cut net long position in gold in week to May 15

By Apeksha Nair
BENGALURU, May 21 (Reuters) – Gold slid to a near five-month
low on Monday, as the dollar rose and demand for safe-haven
assets eased after U.S. Treasury Secretary Steven Mnuchin said a
trade war between China and the United States was “on hold”.
Spot gold was down 0.6 percent at $1,283.30 per ounce
at 0658 GMT, after earlier hitting $1,281.76, its lowest since
Dec. 27.
U.S. gold futures for June delivery were 0.7 percent
lower at $1,282.50.
“Gold price is under pressure as the dollar maintains its
strength,” said Naeem Aslam, chief markets analyst at Think
Markets.
“‘On Hold’ is a risk-on term…The absence of trade tariffs
and hostile tone between the two countries has also impacted the
gold price more adversely,” Aslam said.
The dollar rose versus the yen and hit a five month-high
against a basket of currencies, after Mnuchin’s comments
downplaying a trade dispute with China, boosting risk sentiment
amid hopes for an easing of trade tensions between the world’s
two biggest economies.
Chinese state media on Monday praised a significant dialing
back of trade tension with the U.S., saying China had stood its
ground and the two countries had huge potential for win-win
business cooperation.
“You have this combination of technical factors which is at
the moment un-supportive (for gold). As long as the dollar is on
the firm side, gold is under pressure,” said Dominic Schnider at
UBS Wealth Management in Hong Kong.
The price of gold fell below the psychologically important
$1,300 per ounce level last week for the first time since late
December and has since continued to trade below its 200-day
moving average.
A stronger dollar makes dollar-denominated gold more
expensive for holders using other currencies. Furthermore,
rising U.S. interest rates, and the expectation that U.S.
Federal Reserve will raise rates again next month, limits
investor demand for non-yielding bullion.
“Investors are looking towards the biggest event of this
week- the FOMC minutes and if the Fed doesn’t tame its hawkish
stance, we would expect more weakness in the gold price,” Aslam
said.
Hedge funds and money managers cut their net long position
in COMEX gold contracts by 21,294 contracts to 31,327 in the
week to May 15, data showed on Friday.
In other precious metals, silver fell 0.8 percent to
$16.30 an ounce.
Platinum was 0.4 percent lower at $879 an ounce,
after marking an over five-month low at $874 earlier.
Palladium rose 0.5 percent at $968.30 per ounce,
after hitting a two-week low at $960.22 on Friday.

via PRECIOUS-Gold hits 5-month low as U.S. trade war with China ‘on hold’ | Reuters

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Arizona law creates dental therapists to handle fillings, extractions and crowns | Local news | tucson.com

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children at dentist, landis refiningDental therapists — a midlevel provider similar to a physician assistant or nurse practitioner — will be a new, licensed profession in Arizona.

Arizona is the seventh U.S. state to allow dental therapy as a profession, said Kristen Mizzi Angelone, dental campaign manager for Pew Charitable Trusts.

 

Under the law signed Wednesday by Gov. Doug Ducey, dental therapists will be allowed to practice only in certain settings — tribal settings, federally qualified health centers and other nonprofit community health centers treating low-income patients. The law will take effect Aug. 3.

Dental therapy is seen by supporters as a way of addressing Arizona’s oral health needs because therapists will be able to perform a limited scope of procedures such as fillings, extractions and crowns at a lower cost.

Members of the Tohono O’odham Nation southwest of Tucson were among the most vocal supporters of the legislation, as they see it as offering a career path for tribal members to remain on the reservation without spending as much money as it costs to go to dental school. Tribal members have also indicated interest in setting up dental therapy coursework at Tohono O’odham Community College.

While Arizona tribes may hire federally certified dental therapists from out of state once the new law takes effect in August, it’s expected to be several years before Arizona schools start graduating dental therapists.

The original dental therapy bill was sponsored by Sen. Nancy Barto, a Republican from Phoenix who has long said adding dental therapists is a “free market solution” to meeting oral health needs in the state.

“Dental therapists are a proven workforce model that will increase affordable care options without creating new, burdensome regulations,” Barto said.

 

Read more via Arizona law creates dental therapists to handle fillings, extractions and crowns | Local news | tucson.com

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Gold Erases Modest Early Losses | Kitco News

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Live 24 hours gold chart [Kitco Inc.]

(Kitco News) – Gold prices are trading near steady levels in late-morning action Friday, and have recovered small losses seen overnight and in earlier U.S.-session trading. Short covering in the futures market and some bargain hunting in the cash market heading into the weekend are featured. There are also some geopolitical crosscurrents in play that could be limiting selling interest in the safe-haven gold market. Comex June gold was last up $0.10 at $1,289.60.

Read more via Gold Erases Modest Early Losses | Kitco News

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Gold scores first gain in 4 sessions

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Published: May 16, 2018 3:15 p.m. ET

Gold futures finished slightly higher Wednesday, a day after the metal got pummeled below $1,300 an ounce to post its lowest settlement of the year on the back of a jolt higher by U.S. government bond yields and a resurgent dollar.

The recent jump in Treasury yields and strength in the greenback had served to undercut appetite for precious metals in recent sessions.

On Wednesday, the 10-year Treasury note TMUBMUSD10Y, +0.21%  yield was at about 3.08%, pulling back from its highest levels since 2011, while the U.S. dollar, as measured by the ICE U.S. Dollar Index DXY, +0.14% a measure of a half-dozen rival currencies, was up 0.1% at 93.33, after trading as high as 93.63—its highest level of 2018, according to FactSet data.

Higher yields dent demand for nonyielding bullion and a strengthening greenback makes commodities priced in the currency, like gold, more expensive to buyers using other monetary units.

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An Ugly Day For Precious Metals

Todd ‘Bubba’ Horwitz  Thursday May 17, 2018 09:27

For gold bulls, Tuesday’s trade should turn out to be bullish with the blow-off pattern selling on heavy volume. Gold is very close to our $1,280 target, although $1,260 could come into play. Once $1,280 shows, we will be ready to start buying when support holds.

Most markets go farther in each direction than we expect. Another big selloff in gold could take it below $1,280. If that happens, we will turn to a shorter time frame on the charts looking for the shorter time frame to hold. We have turned buyers at the right levels and the right conditions. We will look to buy at $1,280 as long as the short term chart confirms, once that level has been met

via An Ugly Day For Precious Metals | Kitco News

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Tech and insurance go hand in hand when it comes to dental innovation

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New Technology allows Doctors to focus on Patients

When it comes to dental health, companies seem to more and more see consumer technology and insurance as natural partners. Beam Dental, which started out in the smart toothbrush space but expanded a few years ago into dental insurance, raised $22.5 million today. At the same time, quip, a smart toothbrush company that raised $10 million last year, acquired dental health plan Afora, in a move that mirrors Beam’s pivot.

“With over 100 million Americans without any dental coverage at all, and many with coverage that doesn’t incentivize making the most of your covered preventative care, we feel it is essential to offer an alternative that can help more people visit the dentist more often, for less,” Simon Enever, CEO and cofounder of quip, said in a statement. “Bringing Afora into quip Labs allows us to accelerate this project towards our mission of supporting our members through all aspects of their oral care routine, from the products they use everyday, to the professionals they visit every six months”.

quip offers its own ADA-approved electric toothbrush for $25, a subscription service that sends replacement heads every three months for $5 per shipment, and an online platform called Dental Connect. The platform helps dentists who sign up to remind patients about regular check-ups and reward them for coming in with free brushes.

via Tech and insurance go hand in hand when it comes to dental innovation | MobiHealthNews

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PRECIOUS-Gold prices recover on short-covering

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Gold nugget

* Dollar index hovers near 5-month high
* Benchmark U.S. Treasury yield hovers around 3 percent
* Spot gold may bounce to resistance at $1,302/oz-
technicals

By Apeksha Nair
BENGALURU, May 16 (Reuters) – Gold prices recovered some
lost ground on Wednesday on short-covering after prices fell to
the lowest level this year in the previous session on surging
U.S. bond yields and a stronger dollar.
Spot gold rose 0.3 percent to $1,294.30 per ounce at
0639 GMT, after shedding 1.7 percent and marking the lowest this
year at $1,288.31 in the previous session.
This was also the lowest price level for the yellow metal
since Dec. 28.
U.S. gold futures for June delivery were up 0.3
percent at $1,293.60 per ounce.
“Rising U.S. bond yields and a stronger dollar were factors
behind gold’s decline below the $1,300 level. The slight pick up
suggests that there might have been some opportunistic buying on
the part of investors,” said John Sharma, an economist with
National Australia Bank.
A stronger dollar makes greenback-denominated gold more
expensive for holders of other currencies, while rising U.S.
yields tend to weigh on bullion’s non-yielding appeal.
The dollar on Wednesday hovered near a five-month high
against a group of major currencies, boosted by a surge in the
benchmark 10-year Treasury yield after strong U.S. retail data
on Tuesday.
Meanwhile, Asian shares were under pressure after North
Korea cancelled high-level talks with Seoul, denouncing military
exercises between South Korea and the United States and throwing
into question next month’s unprecedented summit between Kim Jong
Un and U.S. President Donald Trump.
While global political tensions continued to provide
safe-haven support to the metal, investors said the main price
drivers would likely remain a stronger dollar and rising U.S.
interest rates.
“There are lot of geopolitical risks but people are just
used to it. Therefore it has not become a big driver for gold,”
said Helen Lau, analyst at Argonaut Securities.
Higher interest rates in the United States amid a rising
dollar will continue to add downward pressure on gold, Lau said.
Spot gold may bounce to a resistance at $1,302 per ounce,
before falling again, Reuters technical analyst Wang Tao said.

In other precious metals, silver was up 0.4 percent
at $16.30 per ounce after falling about 1.6 percent on Tuesday
in its biggest one-day percentage decline since April 23.
Platinum rose 0.4 percent to $897 an ounce, while
palladium eased 0.1 percent to $981.72 an ounce after
recording the biggest single-day percentage loss in two weeks at
1.3 percent in the previous session.

(Reporting by Apeksha Nair and Eileen Soreng in Bengaluru;
Editing by Sunil Nair)

via PRECIOUS-Gold prices recover on short-covering | Metals & Mining | Reuters

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PRECIOUS-Gold firms as dollar rally cools, U.S.-Iran tensions heat up | Metals & Mining | Reuters

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gold bars* U.S. consumer price data weaker than expected
* Dollar slips from 4-1/2-month peak
* U.S.-Iran tensions support gold prices

(New throughout, updates prices, market activity and comments;
adds second byline and NEW YORK dateline)
By Renita D. Young
NEW YORK/LONDON, May 10 (Reuters) – Gold rose on Thursday as
the U.S. dollar backed away from 2018 highs after
weaker-than-forecast U.S. inflation data and as tensions between
the United States and Iran also supported the precious metal.
The dollar slipped from a 4-1/2-month peak after U.S. data
showed the Consumer Price Index rose 0.2 percent in April, less
than the 0.3 percent increase that had been forecast. A weaker
dollar makes dollar-priced gold cheaper for non-U.S. investors.

Also helping gold, viewed as a safe-haven investment, was
U.S. President Donald Trump’s move on Tuesday to withdraw from a
nuclear accord with Iran, raising the risk of conflict in the
Middle East.
Israel said on Thursday it had attacked nearly all of Iran’s
military infrastructure in Syria after Tehran fired rockets at
Israeli-held territory.
“We’ve seen a (dollar rally) in the last few weeks, but
actually gold hasn’t gone down as far as you might think, so
political tensions are helping,” said Macquarie commodities
strategist Matthew Turner.
Turner said the dollar was the main driver for gold and he
expects the precious metal to come under pressure in the near
term, with the dollar extending its rally.
Spot gold rose 0.6 percent at $1,320.53 per ounce by
1:34 p.m. EDT (1734 GMT). During the session it touched
$1,322.76, a 10-day high. U.S. gold futures for June
delivery settled up $9.30, or 0.7 percent, at $1,322.30 per
ounce.
Risk appetite among investors limited gold’s gains. Global
equities hit a three-week high as rising oil prices boosted
energy companies, offsetting increased political uncertainty.

“It appears as though the investment side of the equation
has not attracted a lot of attention,” said Rob Lutts, chief
investment officer of Cabot Wealth Management
“We are at the lower end of the range. It appears we could
drift back up to $1,350, but longer term. We really need to see
more investment.”
North American gold-backed exchange-traded funds registered
inflows in April at their highest level since September 2017,
with safe-haven purchases ushered in by a trade stand-off
between the United States and China, Syria tensions and worries
about possible U.S. sanctions on Russia.
In other precious metals, silver gained 1.4 percent
at $16.72 an ounce after earlier hitting a two-week high at
$16.74.
Platinum rose 1.7 percent at $925.40 per ounce,
earlier hitting $926.20, a two-week high. Palladium rose
2.6 percent at $1,000.70 per ounce, earlier seeing $1,002.10, a
2-1/2-week high.

(Additional reporting by Apeksha Nair in Bengaluru; editing by
David Goodman and David Gregorio)

via PRECIOUS-Gold firms as dollar rally cools, U.S.-Iran tensions heat up | Metals & Mining | Reuters