Live London Gold News Wire

15 to 30 minutes old www.usagold.com --LIVE NEWS--
Currency Positioning and Technical Outlook: Heavy Dollar Looks Likely	06:19 Zero Hedge
Recovery from recession: For US businesses, it has been the best in decades	06:13 The Economic Times - International Business
Jose Manuel Barosso defends German Chancellor Angela Merkel on austerity	06:13 The Economic Times - International Business
For millions of Americans, the economy is not working	06:10 The Economic Times
30 minutes to 1 hour old www.usagold.com --LIVE NEWS--
Gold and Silver Bullion Shortage Could Benefit Undervalued Mining Stocks	05:58 The Market Oracle - The Market Oracle
In US, private sector on upswing but cutbacks in government jobs holds back the economy	05:43 The Economic Times - International Business
1 to 2 hours old www.usagold.com --LIVE NEWS--
An Economy in the Middle: No Boom, No Bust	05:19 MorningStar.com
BOE Seen Keeping QE on Hold as Economy Shows Signs of Recovery	05:04 Bloomberg - Economy
Citing Currency Crisis, Puntland to Pay Govt Salaries in U.S. Dollars	04:36 AllAfrica
Solid job gains in April ease fears about economy	04:35 Khaleej Times - Business
Copper surges 7 percent on pickup in US hiring	04:35 Khaleej Times - Business
Dollar slips despite strong US jobs report	04:35 Khaleej Times - Business
2 to 4 hours old www.usagold.com --LIVE NEWS--
Shift to service economy delaying recovery in jobs	04:27 Columbus Dispatch, Ohio
African Union and EU to Strengthen Trade and Economic Links	04:26 AllAfrica
Microsoft, AT&T Cross Atlantic for Euro Rates	04:24 Bloomberg - Markets - Bonds
Copper moves up on increased industrial demand	04:24 The Economic Times - Markets
EU's Barnier calls on France to pursue economic reforms	04:22 Reuters - Economy
Gold falls by Rs 120 on subdued demand; silver steady	04:21 The Economic Times - Markets
Gold falls by Rs 120, silver steady	04:18 The Times of India - International Business
Surprise rise in consumer spending spells hope	04:16 Business Times Online - Companies
Germany produces 5, 000 euro electric car	04:05 AGI.it
US continuing to recover from the worst recession: White House	03:57 The Times of India - International Business
Service sector boost points to sustained growth of UK economy	03:53 MyFinances.co.uk
Copper’s rise is reflection of economy	03:37 Columbus Dispatch, Ohio
Warren Buffett says economy still improving slowly	03:35 philly.com - Business
India's Reserve Bank further tightens gold import rules	03:15 Mineweb
Consumer spending rose 0.4 percent in November	03:13 CBS.com - Business
Business, consumer spending surged in November	03:13 CBS.com - Business
European Union sees deeper recession in gloomy outlook	02:46 Times of Oman
4 to 6 hours old www.usagold.com --LIVE NEWS--
Data cloud outlook for global economy	02:32 FT.com - US and Canada, Economy & Fed
Outlook bleak for Europe’s economy	02:30 Arkansas Democrat-Gazette - Business
Iran's Economy, Foreign Policy Top Rezayee's Agenda	02:20 Fars News Agency
Bullish on Community Banks	02:16 Barron's Online
MoneyWeek Roundup: Hold onto your gold	02:14 MoneyWeek
Asia's Week: Looking For Silver Linings In Ever-Present Clouds	01:45 Forbes - Home Asia
Cueva, Silver and Green, at it again	01:42 Register-Pajaronian, California - Community News
Amid economic upturn, many Pinoys still unemployed	01:31 GMA News - Economy
Buffett satisfied economy sound	01:05 The Journal Gazette, Indiana - Business
Is War Good for the Economy?	01:01 AlterNet.org - Economy
Earlier Today www.usagold.com --LIVE NEWS--
Dollar Slides after NFPs Shove S&P 500 to Record High	00:30 Daily FX
RBI tightens gold import to restrict speculation	00:25 The Times of India - Policy
Foreign currency trading in Armenia sharply increases this week	00:22 News.am - Economics
Pound Climbs a Second Week Versus Dollar as Data Beats Estimates	00:20 Bloomberg - UK
Armavia’s “recovery” to have heavy toll on Armenia’s economy – newspaper	00:12 News.am - Economics
Jackson conference aims at social, economic change	00:08 The Clarion-Ledger, Mississippi - Business
Galvan Week Ahead: UK Manufacturing Boost For Sterling, All Eyes On Sainsbury Numbers	00:03 Proactive Investors
Gold Fluctuates on Upbeat Jobs Report	00:02 The Street - Markets
6 to 8 hours old www.usagold.com --LIVE NEWS--
Will Silver And Silver Wheaton Recover?	23:58 SeekingAlpha
RBI says biggest risk to economy stems from CAD	23:50 Business Today - Economy
'US continuing to recover from the worst recession'	23:31 The Economic Times - International Business

Gold Underpinned on Mixed Data

by Peter A. Grant

May 03, AM
(from USAGOLD.com) --

Gold retreated modestly on the heels of today's better than expected employment report, as the argument for the Fed to start removing accommodation was bolstered somewhat. However, the yellow metal came right back on weaker than expected factory orders and services ISM.

Nonfarm payrolls for April came in just above expectations at +165k, although the whisper had been lower in the wake of the ADP employment survey miss earlier in the week. Upward revisions to payrolls in March and February and the downtick in the jobless rate to 7.5% were encouraging. Stocks took off to the upside and the yellow metal wobbled.

However, factory orders in March were much weaker than expected at -4.0%. ISM-NMI was also a disappointment, falling to 53.1 in Apr, on expectations of 56.0. Where the jobs data was generally supportive of a move toward tighter policy, the follow-on data favored continued easy policy and gold recovered its intraday losses.

If it's May, it must be time for the debt ceiling debate to bloom once again. The debt ceiling has been suspended since January, running up to $16.845 trillion. If Congress doesn't reach some deal on taxes and spending before 18-May, the debt ceiling gets reinstated at whatever the current level is. The Treasury department has already said they can work some magic to overt an immediate government shutdown, but probably not for more than a couple months.

However, with the debt already in excess of $16.8 trillion and still rising, even the Treasury Borrowing Advisory Committee (TBAC) is concerned about the ability to keep rates near 0% indefinitely. ZeroHedge reported earlier in the week on some "concerning statistics" in the latest TBAC report.

Most notable perhaps was the estimation that "over the next decade the USD cost of financing will explode from around $205bn (based on TBAC data) to over $855bn." A near trebling of debt servicing costs is sure to take a pretty big bite out of the economy. Keep that in mind as you contemplate your longer-term investment allocations.

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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 on Mixed Data