Wall Street and Main Street both look for gold prices to rise next week despite a strong U.S. jobs report, according to the Kitco News gold survey.
Theoretically, the labor data increases the odds of further monetary tightening, which hurts gold. However, some Wall Street participants look for the metal’s previous upward momentum to continue, suggesting the jobs report was a single piece of data that may not be enough to move Federal Reserve policymakers away from their recently construed stance...
• Gold rose on Monday, helped by a weaker dollar on expectations that the U.S. Federal Reserve might apply brakes on its monetary tightening cycle in2019, although an improved risk appetite limited gains for the safe haven metal.
Spot gold was up 0.3 percent at $1,288.60 per ounce, as of 0306 GMT and U.S. gold futures gained about 0.4 percent to $1,290.70 per ounce.
• "The dollar is weak, aiding gold. Also, Jerome Powell's views on Friday about the future of interest rate hikes is a bullish...
•Gold prices climbed to a fresh 6-1/2 month peak, moving closer to the key $1,300 an ounce level on Thursday, as concerns about economic slowdown gripped global markets and fuelled demand for safe-haven bullion.
Spot gold gained 0.42 percent to $1,290.20 per ounce at 1:50 p.m. ET, having earlier touched $1,292.32, its highest since June 15. Gold futures settled$10.70 higher at $1,294.80.
• "Gold is overbought on most measures and needs to consolidate but with the speculative long still...
• Gold prices hit their highest in 6-1/2 months on Friday as volatile equity markets on the back of weak U.S. data heightened fears of a global economic slowdown, propelling the safe-haven metal towards a potential third straight weekly gain.
Spot gold was up 0.2 percent at $1,296.35 per ounce, as of 0301 GMT, having earlier touched $1,298.42, its highest since mid-June.
The yellow metal has risen over 1 percent so far this week.
U.S. gold futures were up about 0.4 percent at $1,299.50 per ounce...
• Gold rose to its highest level in over six months on Wednesday as weak factory activity data in Europe and Asia compounded concerns of a global economic slowdown and weighed on stock markets, increasing the precious metal’s appeal.
• Spot gold was down 0.2 percent at $1,279.49 an ounce at 2:02 p.m. ET, having earlier touched its highest since June 15 at $1,288.66.
U.S. gold futures settled $2.80 higher at $1,284.10 an ounce.
• “A sell-off in the stock markets today is prompting...
•Gold prices scaled a more than six-month peak on Thursday as worries about a global economic slowdown and volatility in equities boosted safe-haven buying, while a weaker dollar offered support.
Spot gold touched its highest since June 15 at $
1,290.09,
and was trading up 0.3 percent at $1,288.43 per ounce at 0443 GMT.
U.S. gold futures were up about 0.5 percent at $1,290.20 per ounce.
•“The weaker dollar lent some support for gold. People are more interested in gold as the stock markets...
• Gold inched higher on Friday to trade below a more than six-month high hit earlier this week, as concerns about slowing global economic growth and a partial government shutdown in the United States stoked safe-haven demand, although gains in equities capped the upside.
Spot gold had risen by 0.2 percent to $1,277.75 per ounce as of 0448 GMT, and was set for a second straight weekly gain with no end in sight for China-U.S. trade tensions and political uncertainty in the United States.
The precious...
•Gold scaled a more than six-month peak on Wednesday as the dollar fell along with Asian equities after disappointing data from China cemented fears of a slowdown in global economic growth.
Spot gold was up 0.3 percent at $1,286.18 an ounce as of 0712 GMT, after hitting its highest since June 15,
2018
at $1,287.31 earlier in the session.
U.S. gold futures rose 0.5 percent to $1,288.10 per ounce.
• “It looks very optimistic and fundamentally supportive for gold as the overall mood is still...
• Gold prices rose on Thursday, helped by a weaker dollar and as a relief recovery in stock markets fizzled out, driving investors toward the safe-haven metal.
Spot gold was 0.6 percent higher at $1,274.50 per ounce at 1:44 p.m. EST, after hitting at $1,279.06 in the previous session, its highest since June 19.
U.S. gold futures settled $8.10 higher at $1,281.10 per ounce.
• "The weaker dollar index is supporting the buying interest in gold and the U.S. stock indexes have pulled back significantly...
Geopolitical uncertainty won’t do much for gold prices heading into
2019
; however, pare that with growing economic weakness and precious metal stands out as a clear safe-haven asset, according to the World Gold Council.
In an interview with Kitco News, John Reade, chief market strategist at the WGC said that he sees a potential for the gold market as investors will have fewer defensive assets to choose from in
2019
when economic and geopolitical uncertainty are expected to create financial...
• Gold pared all its earlier intraday gains on Wednesday, as rejuvenating U.S. equities made safety assets less lucrative to investors, while a stronger dollar further dented appeal for the metal.
Spot gold fell 0.2 percent to $1,266.32 per ounce. It had earlier touched its highest since June 19 at $1,279.06. U.S. gold futures settled up 0.1 percent at $1,273 an ounce.
• "With the U.S. equity markets rebounding from a Christmas Eve sell-off, investors are looking to take more of a wait...
·
Gold rose on Thursday as global growth worries and volatility in stock markets boosted demand for the safe-haven metal, but gains were capped by a sharp rebound in equities.
Spot gold was up
0.2
percent at
$1,268.87
per ounce as of
0600
GMT, after hitting its highest since June
19
at
$1,279.06
in the previous session.
U.S. gold futures fell
0.1
percent to
$1,271.8
per ounce.
·
"
Gold prices are primarily getting support on the back of safe-haven buying...
•
Gold poised to resume bull market run in 2019-2020
Precious metal gold, which has been mostly ignored by investors this year, is in the midst of a solid recovery in
December,
and projected to be getting its safe-haven moment again soon.
Gold prices were solidly higher this week, hitting a five-week high on Thursday at $1,267 per ounce.
According to the economic research consultancy Capital Economics, the end-2019 target for the yellow metal is $1,300 an ounce, followed by the $1,400 level...
Gold prices will head higher in
2019
, while the mining sector will see much more consolidation, according to BMO Capital Markets’ updated commodities outlook for next year.
The two main supportive triggers for the yellow metal will be a more dovish Federal Reserve and a weaker U.S. dollar, BMO analysts wrote.
“With the Federal Reserve hike stuttering as we head into
2019
, and the USD relative outperformance in its final innings, we see further potential price gains in H
1/19
before...
• Gold prices hit a six-month high on Wednesday as concerns over global growth and a partial government shutdown in the United States fuelled risk aversion, prompting investors to seek refuge in the metal.
Spot gold climbed 0.4 percent to $1,273.71 per ounce as at 0639 GMT. The metal hit $1,274.68 in early trade, its highest since June 20.
U.S. gold futures were up 0.5 percent at $1,277.6 per ounce.
• Investors are uneasy about global
economical
growth and are seeking gold as a safe-haven,...
• Gold scaled a six-month peak on Monday as sliding stock markets and concerns about a global economic slowdown sapped risk sentiment, driving investors to seek safety in the precious metal.
Spot gold gained 1 percent to $1,268.38 per ounce at 1:40 p.m. EST in thin trade ahead of the Christmas holiday. The metal hit its highest since late June at $1,267.13 earlier in the session.
U.S. gold futures settled $13.70 higher at $1,271.80 per ounce.
• "Gold has continued to be firm here in the...
• Gold may face bearish pressures, especially in the first half of 2019, as the real interest rates in the US are likely to rise.
Factors that could support gold in 2019
Real rates turn negative: Gold tends to perform well when the inflation rate is higher than the nominal interest rate. Inflation may rise well above interest rates if the US-China trade war escalates, restoring gold's appeal as a store of value.
US economy underperforms: The haven flows into the US seen in 2018 will likely...
• Gold prices steadied on Friday, holding firm near a six-month high struck in the previous session, as the dollar remained under pressure due to a subdued outlook towards U.S. interest rates and the economy, and investors shunned risky assets.
Spot gold was little changed at $1,259.34 per ounce at 0915 GMT, after jumping more than 1 percent in the previous session. The precious metal hit a high of $1,266.4 on Thursday, a level last seen on June 26.
• The bullion has gained about 1.7 percent...
After hitting a fresh five-month high, gold is likely to pause while enjoying its recent gains during next week’s thin holiday trading, according to analysts.
The top three drivers for gold this week have been the Federal Reserve, weaker U.S. dollar, and volatile equity markets, which pushed the precious metal to a high of
$1,269.60
— the highest level since July. The February Comex gold futures last traded at
$1,261.70
, down
0.49%
on the day, but up
1.65%
on the week.
Another...
• Gold prices climbed on Monday, holding ground near a six-month high hit last week, as investors remained concerned about political uncertainty in the United States and global economic slowdown.
Spot gold was up 0.6 percent at $1,263.91 per ounce as of 0458 GMT. The metal had hit its highest since early July at $1,266.40 on Thursday.
U.S. gold futures were up 0.7 percent at $1,267.4 per ounce.
• A partial U.S. government shutdown was almost certain to drag through the Christmas holiday after...