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5 to 10 minutes old www.usagold.com --LIVE NEWS--
Forex: AUD/USD drifting higher towards resistance at 1.0320	20:28 FXstreet - Forex News
15 to 30 minutes old www.usagold.com --LIVE NEWS--
FOREX: Ringgit Opens Marginally Higher Against Dollar	20:09 Bernama - Malaysian National News Agency - Markets
Forex Flash: AUD to fall in second half of this year - RBS	20:08 FXstreet - Forex News
30 minutes to 1 hour old www.usagold.com --LIVE NEWS--
Gold edges down, falling ETFs sap interest	20:04 Reuters - Business
What Americans Should Understand About Japan's 1990s Economic Bust	20:03 The Atlantic - Magazine
Nikkei climbs to near 5-year highs on weak yen; Canon, Nintendo sink	20:03 Reuters - Economy
Gold up but outlook clouded by lower investment	20:01 The Nation - Business
Pakistan's next govt faces tough economic challenges	19:58 Business Times Online - Stock Markets
Aussie economy in Q1 boosted by strong data mix	19:58 Business Times Online - Stock Markets
S.Korea economy grows at fastest pace for 2 years	19:52 Channel NewsAsia - Business
UK facing third recession since 2008	19:49 Trinidad & Tobago Guardian Online - Business
Forex: EUR/USD quietly edges higher during Asia session	19:38 FXstreet - Forex News
1 to 2 hours old www.usagold.com --LIVE NEWS--
Japanese Investors Cash In on Weak Yen	19:34 CNBC.com - Asia
Buddhist sect loses big on Aussie dollar bets	19:31 WA Today - Business - National
S. Korea's economic growth hits 2-year high in 1Q	19:23 The Straits Times - Money
Sherri Gastelum the CEO of Platinum Tax Defenders Says Tax Season Fear Can Result …	19:16 Yahoo! US - Business - Press Releases
BPOs, exporters face strong peso challenge	19:14 ABS-CBNnews.com - Business
Canon, Nintendo find solace in Abenomics as weaker yen boosts outlook	19:08 The Star Online
Forex Flash: AUD, NZD near term risks tilted to the upside - Westpac	19:08 FXstreet - Forex News
Forex: GBP/JPY breaks above 152 on Pound strength	19:08 FXstreet - Forex News
Figures to show if Britain is in triple-dip recession	19:03 ITV News - Politics
Forex: Massive structurally long positions in CHF may be in danger - FXWW	18:58 FXstreet - Forex News
Recession doesn't change students' econ savvy	18:57 MercuryNews.com, California - Business
UK Treasury OKs MoD's contractor-run procurement plan	18:56 Reuters.com - Regulatory News
S. Korea's economic growth hits 2-year high in Q1	18:54 The Korea Herald - Business
Economy's impressive run may bring unease to BSP	18:53 ABS-CBNnews.com - Business
Japan PM Abe: Yen decline will narrow trade deficit in 1 year	18:53 ForexLive.com
DAVID ROSENBERG: 12 Signs The Economy Is Weaker Than You Think	18:52 Business Insider - Finance
SLO economic forum focuses on benefits of collaboration	18:45 San Luis Obispo, California - Business
Forex: USD/JPY consolidation continues as BoJ rate decision nears	18:38 FXstreet - Forex News
2 to 4 hours old www.usagold.com --LIVE NEWS--
Most Asian Stocks Rise as Korean Economy Grows Most in Two Years	18:33 Bloomberg - Worldwide
Japan PM Abe: Not necessary to stick to 44Tln yen bond issuance cap	18:33 ForexLive.com
BOJ's Kuroda says will stick to 2 pct inflation target	18:32 Reuters - Economy
Forex: GBP/USD pushing higher above 1.5250	18:28 FXstreet - Forex News
UK to learn if it has entered "triple-dip" recession	18:18 The Star Online
Forex Flash: EUR/USD vs EU sovereign spreads, a regime shift taking place - Nomura	18:18 FXstreet - Forex News
UK to find out if it has entered 'triple-dip' recession	18:17 TVNZ - Business
How economists perpetuated the great recession	18:17 Business Spectator - Economy
South Korea Economic Growth Beats Forecasts	18:16 Fox Business - Industries
Brown-Vitter bill seeks to end ‘too big to fail’	18:16 The Washington Post
'Canadian economy is strong,' Carney says in last testimony before parliament	18:14 CTV.ca
Kuroda speaking in parliament: Hope to achieve 2% inflation as soon as possible	18:13 ForexLive.com
Evidence and Economic Policy	18:11 The New York Times: Paul Krugman (Weblog) - Technology
SKorea's economic growth hits 2-year high in 1Q	18:11 York Dispatch, Pennsylvania - Business
N Brown eyes further openings in the south as profits increase	18:05 City AM
S Korea Q1 GDP tops expectations despite yen, N Korea	18:04 Business Times Online - Asia
IMF urges Pakistan to act to stabilize economy	18:04 Business Times Online - Asia
South Korea’s Economy Grows at the Fastest Pace in 2 Years	18:03 Bloomberg - Markets
Barrick Gold's annual meeting: Falling profit, angry shareholders and protesters	17:56 The Globe and Mail
FOREX-Yen steady in early Asia trade; Japan flow data eyed	17:53 Reuters.co.uk - Currencies - Asian Currency

Gold Underpinned by Physical Demand

by Peter A. Grant

Apr 24, AM
(from USAGOLD.com) --

Gold has retraced yesterday's losses, pushing briefly back within striking distance of Monday's high at 1439.00. Strong physical interest continues to underpin the market, which is apparently making some of the speculative sellers of gold nervous.

It was widely reported yesterday that Goldman Sachs got stopped out their short position in COMEX gold futures on the rebound above $1400. You may recall that that Goldman revised their gold forecast down two weeks ago, which may have contributed to the sell-off in the paper market.

Durable good orders for March missed badly, providing the latest indication that the U.S. economy is not recovering in a manner that many had hoped for. Durable goods orders tumbled -5.7% in March, well below market expectations of -3.0%. The February print was revised lower as well from +5.7% to +4.3%.

Much of the selling pressure seen in gold earlier in the year was attributable to allocation shifts out of safe havens and into equities based on some expectation that the economy was on the mend. That is simply not being born out by the data. If the stock market starts to suffer as a result of this reality, those same investors that were ditching their gold ETFs to pile back into shares, might just start reversing those trades.

Additionally, if the data continues to disappoint, those convinced that the Fed would start removing accommodations sooner rather than later may have to rethink their positions. It has been my position that the Fed isn't going to start tightening until sometime in 2015. Basically, I'm inclined to at a minimum believe Bernanke, who has repeatedly said they will continue with ZIRP and QE until the jobless rate falls to 6.5% or inflation rises to 2.5%. Neither is going to happen any time soon.

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Opinions expressed in commentary on the USAGOLD.com website do not constitute an offer to buy or sell, or the solicitation of an offer to buy or sell any precious metals product, nor should they be viewed in any way as investment advice or advice to buy, sell or hold. USAGOLD, Inc. recommends the purchase of physical precious metals for asset preservation purposes, not speculation. Utilization of these opinions for speculative purposes is neither suggested nor advised. Commentary is strictly for educational purposes, and as such USAGOLD does not warrant or guarantee the accuracy, timeliness or completeness of the information found here.

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Gold Underpinned by Physical Demand