Gold reclaimed
$1300
after eight months in an expansive week breaking out of the triangle which it had got stuck in the current month. The week was first big green candle of
2019
where gold posted gains of
$22
on the back of a falling dollar setting the momentum back for the bulls. A closing above
$1300
itself is a very bullish scenario keeping aside the fundamentals which is ticking the boxes for a higher gold and a lower dollar price action mainly attributed to rising demand for safe haven...
·
Gold prices hit a more than seven-month high on Tuesday as investors shun riskier assets on worries over escalation in Sino-U.S. trade tensions after the U.S. Justice Department charged China’s Huawei Technologies Co Ltd with fraud.
Spot gold rose to its highest since June
14
,
2018
at
$1,304.53
in morning trade and was firm at
$1,303.62
per ounce by
0319
GMT. U.S. gold futures were also steady at
$1,302.70
per ounce.
·
“Investors are very cautious...
·
Gold jumped over 1 percent to a more than seven-
month high on Friday, briefly surpassing the $1,300 mark, as the dollar slid ahead of a U.S. Federal Reserve meeting next week where the central bank is widely expected to leave interest rates unchanged.
·
Spot gold rose 1.29 percent to $1,297.13 per ounce as of 1:58 p.m. ET, having earlier touched a peak of $1,300.30, its highest since June 15, 2018. The metal was on course for its best week in four.
·
U.S. gold...
Wall Street and Main Street both look for gold to rise next week, according to the Kitco News gold survey.
Traders and analysts cited a number of political and geopolitical uncertainties, as well as an expectation the U.S. Federal Open Market Committee will now be more cautious about raising interest rates. Policymakers are scheduled to meet next week.
“I believe next week is a make-or-break week for gold,” said Richard Baker, editor of the Eureka Miner Report. “After two early attempts...
·
Gold prices held steady on Monday, near a seven-month peak scaled in
previous
session, on hopes the U.S. Federal Reserve will keep interest rates unchanged during its two-day policy meeting later in the week.
Spot gold was firm at
$1,302.58
per ounce by
0308
GMT, while U.S. gold futures climbed
0.3
percent to
$1,301.90
per ounce.
·
The Federal Open Market Committee meets between Jan.
29
and Jan.
30
, and Chairman Jerome Powell is widely expected to acknowledge...
· Gold fell on Thursday, weighed down by a stronger dollar and an uptick in equities.
· Spot gold fell 0.13 percent to $1,280.30 an ounce at 1:51 p.m. ET. U.S. gold futures settled $4.20 lower at $1,279.80.
· “I think the market doesn’t believe, at least yet, that there’s a case for gold to go above $1,300 ... The dollar is still relatively strong,” said Philip Newman, director at Metals Focus.
· Gold still faces short-term headwinds, Newman...
·
Gold prices edged higher on Friday amid concerns that a prolonged U.S. government shutdown could exacerbate an already slowing global growth, while markets awaited U.S.-China trade talks scheduled for next week.
Spot gold rose
0.2
percent at
$1,282.50
per ounce, as of
0343
GMT, while U.S. gold futures were steady at
$1,281.40
per ounce.
Investors are worried about the economic impact of the longest U.S. government shutdown in history, now in its
34
th day, with two bills...
·
Gold prices steadied on Wednesday, clawing back from losses made earlier in the session, as a recovery in stock markets fizzled out on concerns over geopolitical and economic uncertainty, triggering investors to seek safety in the metal.
·
Spot gold fell 0.12 percent to $1,283.11 an ounce by 3:05 p.m. ET, having fallen to $1,278 an ounce earlier in the session.
·
U.S. gold futures settled $0.60 higher at $1,284.
·
“Gold’s strength is due...
Next week the Federal Reserve will hold its first monetary policy meeting of the year and gold could benefit no matter what action the central bank takes, according to one gold market analyst.
In a recent commentary, Joe Foster, portfolio manager and strategist for VanEck’s gold and precious metals strategy, said that he sees two scenarios playing out next week.
The first
is where the U.S. central bank maintains its hawkish stance, which could potentially drive the U.S. economy into a recession...
· Gold prices rose on Thursday as the dollar declined due to concerns the prolonged U.S. government shutdown will limit economic growth at the same time when global growth is slowing as well.
Spot gold was up 0.1 percent at $1,283.31 per ounce, as of 0326 GMT, while U.S. gold futures were down 0.1 percent at $1,282.60 per ounce.
· "We are seeing a weaker U.S. dollar for the moment, which is in general supportive for gold," Michael McCarthy, chief market strategist at CMC Markets...
·
Gold prices held steady on Wednesday, after rising the most since Jan.
9
the day before, on demand for safe-haven assets amid concerns over the slowing global economy along with uncertainty about the trade dispute between the United States and China.
Spot gold was little changed at
$1,284.74
per ounce by
0345
GMT, while U.S. gold futures were up
0.1
percent at
$1,284.20
per ounce.
Spot gold rose
0.4
percent on Tuesday as global stock markets fell. Asian stocks dipped...
·
Gold slipped to its lowest in almost a month on Monday as a firm dollar and greater risk appetite outweighed support from an expected pause to increases in U.S. interest rates.
Spot gold was 0.1 percent down at $1,279.99 an ounce, having touched its lowest since Dec. 28 at $1,276.31. U.S. gold futures settled down $9.70 at $1,282.60 per ounce.
·
“Some calm has been restored in the equities market ... We are seeing a bit of withdrawal of interest from the gold market...
·
Gold prices edged lower on Tuesday, hovering near a three-week low touched in the previous session, as a firmer dollar made bullion more expensive for buyers using other currencies, even as concerns about a global slowdown mounted.
Spot gold fell
0.1
percent at
$1,278.77
per ounce by
0546
GMT, after touching its lowest since Dec.
28
at
$1,276.31
on Monday. U.S. gold futures fell
0.3
percent to
$1,278.70
per ounce.
The dollar hovered near
2-
week highs against its peers...
·
Gold slipped to the lowest in more than a week on Friday as hopes of a thaw in the U.S.-China trade dispute perked up stock markets, while palladium held above $1,400 on a supply crunch.
·
Spot gold was down 0.68 percent to $1,282.57 per ounce. U.S. gold futures settled down $9.70 at $1,82.60 per ounce.
·
“Rising risk appetite among market participants is reflected in the rising stock markets,” said Commerzbank analyst Daniel Briesemann, adding “today...
Gold continued to consolidate by yet again forming an inside bar , saw its first weekly decline of
2019
as it closed with cuts of nearly
$6.
A mix of global fundamental news helped gold sway
$15
from highs to lows as riskier assets saw a surge in demand on the last day of the trading week. The momentum is tapering off for the bulls but the trend hasn’t changed as gold continues to remain in the breakout zone.
On the chart –
Gold saw its first weekly decline of
2019
as the...
Wall Street analysts are caught in a three-way tie regarding where gold is going next week, but Main Street remains bullish in the short term, according to the Kitco News gold survey.
Eighteen market professionals took part in the Wall Street survey. There were six votes each, or
33%
, for all three categories – higher, lower and sideways/neutral.
Meanwhile,
440
respondents took part in an online Main Street poll. A total of
255
voters, or
58%
, called for gold to rise. Another
94
,...
·
Palladium surpassed the
$1,400
mark for the first time on Thursday, as demand for the auto-catalyst metal overtook its availability in the market, while gold edged lower as the dollar gained on better-than-expected U.S. jobs data.
Spot palladium gained
2.28
percent to
$1,390
per ounce as of
2:13
p.m. ET, having earlier hit an all-time high of
$1,434.50
, and rising more than
10
percent so far this month.
Adding to palladium's appeal were policy initiatives to help support...
·
Palladium rose to a record high on Thursday on lower supply and increasing demand for the metal used in
auto catalysts
, while
a firmer
dollar offset expectations of a pause in the U.S. Federal Reserve’s rate-hiking cycle, keeping gold steady.
The price of palladium, used mainly in emissions-reducing catalysts for vehicles, is up over
60
percent since marking a trough in mid-August. Prices for the metal overtook gold for the first time in
16
years early in December ...
·
Palladium rose to a record high on Wednesday on increasing demand and lower supply of the metal used in autocatalysts, while gold gained on expectations of a pause in the U.S. Federal Reserve’s rate hiking cycle.
·
Palladium jumped to an all-time high of
$1,358
an ounce, and was last up
2.73
percent at
$1,354.
·
George Gero, managing director at RBC Wealth Management, noted high demand from “the automobile industry using more and more of palladium”...
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