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

WCI grant provides dental kits to students | Local News Stories |


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Students at St. Mary’s School in Breckenridge, Minnesota, received special dental kits this week during their vision, hearing and oral screenings at the school. Students at Rothsay Public School and Breckenridge Public School also received screenings and dental kits. The screenings are geared to students in kindergarten through third grade.

The schools contract with Wilkin County Public Health to do the health screenings, and the county’s health department received a $500 grant from West Central Initiative to purchase the dental kits, which include toothbrush and toothpaste, floss, a toothbrush case and a timer. The county’s Community Oral Health Education Project is intended to educate children about the importance of proper dental hygiene and how to take care of their teeth.

Brittany Knaust and Kathryn Reichman, second year dental hygiene students at North Dakota State College of Science, assisted Maggie Wiertzema, RN, with Wilkin County Public Health, in giving annual oral screenings Tuesday, Sept. 25 at St. Mary’s School. Wiertzema said the college students were earning credits for their work, and she appreciated the help with the screenings.

Read more via WCI grant provides dental kits to students | Local News Stories |

Gold prices edge higher as dollar finds little traction ahead of Wednesday’s Fed decision – MarketWatch


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Gold futures eked out back-to-back gains Tuesday as the dollar index softened ahead of the Federal Reserve decision, which could yield a third rate increase of the year—a negative development for gold because it can bolster the dollar.

December gold GCZ8, -0.91%  rose 70 cents, or less than 0.1%, to settle at $1,205.10 an ounce, gaining as the dollar index DXY, +0.54%  traded little changed at 94.155.

The dollar and gold, which is chiefly priced in the U.S. currency, tend to move inversely. Gold prices based on the most-active contracts have declined by 8% so far in 2018 while the dollar index is up about 2.2%.

Read more via Gold prices edge higher as dollar finds little traction ahead of Wednesday’s Fed decision – MarketWatch

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As Twitter, FB, Google Get Crushed, Is Precious Metals Turn for Real?

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Risk is still to the downside and for those looking to go long based on days like Tuesday, it may be best to be in and out of positions quickly because it is not an environment to expect a sustained rally. The only rally that may be coming is in the precious metals.

Goldbugs, I feel your pain. Every rally since 2011 has failed. There were major rally attempts in 2016 and 17, both failed. Gold has been in a tight range of roughly 350 points since July 2013.

It’s a long time and starting to remind many people of the 1990s when it stayed in a tight range for three years until it came to its final bottom. They more than made up for it for about 10 years.

Here’s the good news. For all the heartbreak, the low has been holding since 2015 and they made a higher low in 2016. If the low right now were to hold, it would be another higher low.

Why are we talking about precious metals? There is an incredible vibration on the GoldMoney (XAU) mining stocks at 138 weeks off the January 2016 bottom at 38.37. It’s always amazing when this stuff works, so there are a lot of amazing conditions in the market. But its even more amazing when it starts to work in a large time frame.

via As Twitter, FB, Google Get Crushed, Is Precious Metals Turn for Real?

PRECIOUS-Gold prices slip as trade, emerging market worries lift dollar |


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PRECIOUS-Gold prices slip as trade, emerging market worries lift dollar

Kitco News

* Gold may fall to $1,190/oz -technicals
* Palladium hovers near 11-week highs hit on Monday (Recasts, adds comment) By Sethuraman N R BENGALURU, Sept 4 (Reuters) – Gold prices inched down on Tuesday as the dollar hit a one-week high on the back of intensifying global trade tensions and economic worries in emerging markets.
Gold prices are down about 8 percent this year amid rising U.S. interest rates, trade disputes and the Turkish currency crisis, with investors parking their money in the dollar which is being viewed as a safe-haven asset. Spot gold was down 0.1 percent at $1,199.20 an ounce at 0347 GMT, while U.S. gold futures had dropped 0.1 percent to $1,205 an ounce. “The emerging market economic crisis is making currencies very weak and benefiting the dollar, which continues to pressure gold,” said Peter Fung, head of dealing at Wing Fung Precious Metals in Hong Kong. The dollar index , which measures the greenback against a basket of currencies, was up 0.1 percent at 95.182.
A firmer U.S. dollar makes gold more expensive for holders of other currencies, with safe-haven demand for gold this year overshadowed by the metal’s relationship with the greenback. “Gold should track the dollar’s movement very closely and interest rate expectations too are weighing on the metal,” Fung said. Markets are closely watching U.S. economic data, including a manufacturing survey on Tuesday and an employment report on Friday, which could influence gold’s moves as investors look for clues on the pace of U.S. interest rate increases. Meanwhile, worries over an escalation in trade conflicts between the United States and other countries have kept participants in broader markets on edge. “With all the noise building around the trade dispute, along with unsettling economic prospects for Turkey and Argentina that will likely drag on more emerging market economies … gold should be in demand,” said Stephen Innes, Asia-Pacific trading head at OANDA.
After a 16-percent slide in the peso last week, Argentine President Mauricio Macri on Monday announced new taxes and steep cuts to spending in an “emergency” bid to balance next year’s budget. Meanwhile, Turkey’s central bank signalled on Monday it would take steps to combat “significant risks” to price stability, comments seen as hinting at interest rate hikes. Spot gold may fall to $1,190 per ounce, as suggested by its wave pattern and a projection analysis, according to Reuters technical analyst Wang Tao. Spot silver dropped 0.2 percent to $14.43 on Tuesday, after falling to an over two-week low at $14.37 on Monday. Platinum was up 0.4 percent at $786.70, while palladium was down 0.1 percent at $977.50, after hitting an 11-week high of $985.50 on Monday. (Reporting by Nallur Sethuraman in Bengaluru Editing by Richard Pullin and Joseph Radford)


via PRECIOUS-Gold prices slip as trade, emerging market worries lift dollar |

Reducing the global burden of poor oral health through school-based programmes | International Journal of Epidemiology | Oxford Academic


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Globally, dental caries and gingivitis negatively impact upon the health and quality of life of countless children.1,2 Caries is the commonest preventable infectious disease affecting children worldwide.3 The causal agent, Streptococcus mutans, thrives in an acidic environment where sugar is available.4 Bacteria are trapped in deposits of plaque on the gum line and cause gum inflammation and chronic periodontal disease.

Factors predisposing children to this health burden include poverty, poor nutrition and a lack of knowledge about the relevance of oral health and how to clean their teeth as a preventive measure. Those from disadvantaged populations suffer disproportionally, yet much of the pathology and…

Read more via Reducing the global burden of poor oral health through school-based programmes | International Journal of Epidemiology | Oxford Academic