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Gold Prices Push Into Positive Territory As U.S. Core PCE Hits 2% | Kitco News

31 Friday Aug 2018

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gold, gold prices, inflation pressure, scrap precious metal market, United States, US

landis refining, dental industry, scrap metal, purchase gold, purchase dental scrapsKitco – Gold prices have pushed into positive territory after inflation pressures have officially hit the Federal Reserve’s target.

Thursday, U.S. Department of Commerce said that its Core Personal Consumption Expenditures Index, increased also increased 0.2% in July, in line with expectations. Annually, core inflation, which is the Fed’s preferred inflation measure increased a tick higher to 2%, up from June’s reading of 1.9%.

This is the first time inflation has hit 2% since 2012.

headline inflation, increased 0.1% last month, in line with expectations. For the year, inflation pressures increased 2.3%.

Gold prices were in negative territory ahead of the data and has pushed into the green in initial reaction. December gold futures last traded at $1,211.90 an ounce, up 0.03% on the day.

Read more via Gold Prices Push Into Positive Territory As U.S. Core PCE Hits 2% | Kitco News

Gold Bears Not Letting Up; No Low In Sight As Prices Remain Below $1,200 | Kitco News

22 Wednesday Aug 2018

Posted by landisrefining in gold, market, precious metal market, scrap gold, scrap precious metals, US market

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bear market, gold prices, investing, stock market, United States, US

(Kitco News) – Bearish speculative investors continue to hold the gold market in a death grip and are in complete control of the price action, according to the latest trade data from the Commodity Futures Trading Commission (CFTC).

While analysts continue to wait for the ever-elusive short squeeze to breathe new life in the yellow metal, the market’s speculative short side continues to expand hitting new historical record on a weekly basis. Net speculative short positions have increased for seven consecutive weeks.

“Speculative financial investors remain the primary factor weighing on the gold price. In the last reporting week alone, they sold 53.5 tons of gold via the futures market,” said analysts from Commerzbank. “Selling since the end of June now totals almost 260 tons – equivalent to nearly a month’s worth of global gold mining production.”

The CFTC’s disaggregated Commitments of Traders report, for the week ending Aug. 14, showed money managers decreased their speculative gross long positions in Comex gold futures by 1,046 contracts to 104,803. At the same time, short bets rose by 16,162 contracts to 188,127.

Gold’s net-short positioning currently stands at 83,324contracts, a 26% increase from the previous week. During the survey period, gold prices continued to test critical support at $1,200 an ounce.

Read more via Gold Bears Not Letting Up; No Low In Sight As Prices Remain Below $1,200 | Kitco News

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Medicare: Seniors want dental care

24 Tuesday Jul 2018

Posted by landisrefining in health and wellness, market, oral health

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elderly dental care, medicare, seniors want dental care, United States

landis refining, dental industry, elderly, elderly dental care

Elderly dental care needs better coverage

Some seniors and advocates aren’t willing to cover their mouths about the need for dental care.

But they want Medicare to.

A coalition of oral health organizations is urging senior citizens to mail toothbrushes to their legislators, sending a dual message about their numbers and their health: “We vote, and we have teeth.”

The goal: to get Medicare to cover preventive and regular dental services.

Right now, the government-sponsored health insurance program for seniors covers less than 1 percent of dental services. Although some supplemental policies do cover dental care, Medicare Parts A and B don’t.

Read more via Medicare: Seniors want dental care

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PRECIOUS-Gold prices hit two-week high on short covering, weaker dollar | Reuters

10 Tuesday Jul 2018

Posted by landisrefining in gold, market, precious metal market, scrap gold, scrap precious metals, US market

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china, gold, gold prices, trade tensions, United States, US dollar

* Dollar falls to lowest since June 14
* Spot gold hits highest since June 26
* Gold may rise into $1,268-$1,277/oz – technicals
* Silver, platinum, palladium at over one-week highs

By Karen Rodrigues

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BENGALURU, July 9 (Reuters) – Gold prices hit a near
two-week high on Monday as investors covered their short
positions and the dollar slipped to its weakest since mid-June,
while lingering U.S.-Sino trade tensions also supported the
bullion.

Spot gold was up 0.5 percent at $1,260.41 an ounce,
as of 0708 GMT, after touching its highest since June 26 at
$1,262.06.

U.S. gold futures for August delivery were 0.5
percent higher at $1,261.70 an ounce.
Gold is pushing higher on the dollar’s weakness in Asian
trading, said Tim Brown, trader at MKS PAMP Group, wrote in a
note.

The dollar index , which measures the greenback
against a basket of six major currencies, slipped to an over
three week low after U.S. jobs data showed slower-than-expected
wage growth.

The U.S. economy created more jobs than expected in June,
but steady wage gains pointed to moderate inflation pressures
that should keep the Federal Reserve on a path of gradual
interest rate increases this year.

A weak U.S. dollar makes greenback-denominated gold cheaper
for holders of other currencies.

“Some short covering has likely ensued given certainties
over the U.S.-Sino trade tensions on Friday. Still, the uptick
in risk appetite into the week may be short-lived if more trade
tariff threats are seen into the week ahead,” said OCBC analyst
Barnabas Gan.

The United States and China exchanged the first salvos in
what could become a protracted trade war on Friday, slapping
tariffs on $34 billion worth of each others’ goods and giving no
sign of willingness to start talks aimed at a reaching a truce.

President Donald Trump said on Thursday the United States
may ultimately impose tariffs on more than a half-trillion
dollars’ worth of Chinese goods.

“With the ongoing U.S.-Sino trade tensions, the resignation
of David Davis will likely be a side-show, though it may raise
some concerns amongst market-watchers depending on how the
overall Brexit issue progresses,” OCBC’s Gan added.

Brexit Secretary Davis resigned because he was not willing
to be “a reluctant conscript” to Prime Minister Theresa May’s
plans to leave the European Union, delivering a blow to the
British leader struggling to end divisions among her ministers.

Read more via PRECIOUS-Gold prices hit two-week high on short covering, weaker dollar | Reuters

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