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View Full Version : Gold Gets Friday the 13th Curse



Customer Care
11-13-2015, 09:55 PM
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Gold Gets Friday the 13th Curse (http://info.kitco.com/gold-gets-friday-the-13th-curse)
(http://info.kitco.com/another-round-at-the-bar)


Given gold’s latest streak, it’s fitting to have a Friday the 13th theme today. Even though, on this newsletter day, gold was getting some reprieve after some weak economic data. U.S. retail sales for October came in at a paltry gain of 0.1%. A gain of 0.3% was expected. Meanwhile, the October U.S. producer price index came in at minus 0.4% when a rise of 0.2% was expected. The yellow metal was trading modestly higher in early U.S. trading Friday. December Comex gold was last down at $1,080.60 an ounce.


Despite today’s ‘pop’ in gold prices, the metal is still struggling and the question is how much should we worry about falling commodity prices? And not just gold, but look at copper, look at oil. Or should we change the mindset and see it as investor sentiment showing us signs that we are bottoming out and these commodity prices are a great value or as Rob McEwen, CEO of McEwen Mining, told us this week, to be seen as ‘a bargain at 80-90% off.’
Kitco News’ Peter Hug said in his morning commentary, “There is an underlying fear which may create more short-term buying especially if the equity markets continue to slide.”

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