• MTS Gold Evening News 20180315

    15 Mar 2018 | Gold News


• Gold prices edged up on Thursday, lingering near one-week highs hit in the previous session on political tensions between Britain and Russia and as worries over a potential trade war dragged on stocks and the dollar.

Spot gold rose 0.2 percent to $1,326.83 per ounce at 0431 GMT.

U.S. gold futures for April delivery rose 0.1 percent to $1,327.00 per ounce.

• "Gold has been supported by geopolitical factors as well as dollar weakness ... Stock markets were down overnight, we've got a bit of risk-aversion coming back in," said a Hong Kong based trader. He declined to be identified as he was not authorised to speak with media.

• The Trump administration is pressing China to cut its trade surplus with the United States by $100 billion, a White House spokeswoman said on Wednesday, clarifying a tweet last week from President Donald Trump.

• On Wednesday, geopolitical tensions rose after the Russian Foreign Ministry said it would retaliate after of its diplomats were expelled by British Prime Minister Theresa May over a chemical attack on a former Russian double agent in England that May blamed on Moscow.23

• U.S. television commentator and conservative economic analyst Larry Kudlow will replace Gary Cohn as President Donald Trump's top economic adviser, adding another loyalist to Trump's inner circle.

• "I think Kudlow's comments will probably support more of a trade war rhetoric than a stronger dollar," the trader said, adding "gold needs to close above the $1,330level to start getting some traction"

• Trump also spooked investors on Tuesday by firing Secretary of State Rex Tillerson, who was viewed as a supporter of free trade.

• "The market continues to trade the range with Asian buyers stepping in under and speculator profit-taking and producer selling capping the topside around ," said MKS PAMP Group trader Alex Thorndike.$1,320$1,330-$1,335

• "Gold will likely remain range-bound into next week's U.S. Federal Reserve meeting, with the market eagerly anticipating a first rate rise for the year, given the economy's improved data."

• Meanwhile, silver rose percent to per ounce and platinum gained percent to per ounce.0.3$16.540.5$963.20

• Palladium edged percent higher to per ounce after hitting an ounce in the last session, its highest since March 0.6$993.00$1,006.301.


Reference: Reuters
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