•Gold prices rose on Tuesday as lacklustre Chinese factory activity data sent Asian shares lower, rekindling concerns about the health of the global economy.
Investors now await the U.S. Federal Reserve’s two-day policy meeting starting later in the day for clues on the interest rate outlook.
Spot gold rose 0.3 percent to $1,283.69 per ounce at 0503 GMT. U.S. gold futures were up 0.3 percent at $1,285.60 an ounce.
•“There is a broad bearish sentiment across Asia market opening...
· Gold jumped to a near 2-week high on Friday, en route to its best week in 12, as the dollar slipped on tepid inflation data from the United States, which outweighed an overall strong first-quarter growth report.
· Spot gold gained 0.8 percent to $1,287.62 per ounce, after hitting its highest since April 16 at $1,288.
· The metal, which reached its lowest since late December on Tuesday at $1,265.90, is up 1 percent so far this week, and set to post its best weekly gain since Feb 1.
U.S. gold...
Wall Street and Main Street are both bullish in the weekly Kitco News gold survey, looking for the metal to continue the bounce from the year-to-date low it hit at the start of this week.
“Gold should bounce,” said Phil Flynn, senior market analyst with Price Futures Group. “The dollar looks a bit overpriced, so gold should get some support.”
Sean Lusk, director of commercial hedging with Walsh Trading, looks for gold to make further headway to the upside after the recent downdraft...
•Gold prices were mostly unchanged on Monday, trading near the more-than one week high touched in the previous session, on bets that the U.S. Federal Reserve might cut interest rate this year after a recent data showed inflationary weakness.
Spot gold mildly eased by 0.1 percent to $1,284.31 per ounce at 0626 GMT, having hit its highest since April 16 at $1,288.59 in the previous session.
Meanwhile, U.S. gold futures shed 0.2 percent to $1,287.70 an ounce.
•“The gross domestic product...
· Gold inched higher on Thursday as weak economic data rekindled fears over global growth, while bullion’s recovery from four-month lows and an improved technical picture prompted some investors to cover their short positions.
· Spot gold was up 0.1 percent at $1,276.43 per ounce. U.S. gold futures settled $0.30 higher at $1,279.70.
· World equity markets slipped as a surprise deterioration in German and South Korean economic data brought back to the fore concerns about a global downturn...
•Gold climbed on Friday, as signs of weak global growth rekindled investor interest in the safe-haven metal, keeping it on track for its first weekly gain in five, while a strong dollar ahead of the U.S. GDP data capped gains for the bullion.
Spot gold was up 0.1 percent at $1,278.62 per ounce, as of 0334 GMT. The metal rose 0.4 percent so far this week, and is poised for its first gain since the week ended March 22.
U.S. gold futures edged up 0.2 percent to $1,280.60 an ounce.
•Asian shares...
· Gold steadied on Wednesday, crawling up slightly from the lowest in nearly four months hit during the previous session, with bullion pressured by a robust dollar as U.S. stocks took a breather following a strong rally.
· Spot gold was up 0.2 percent at $1,274.24 per ounce, a day after hitting its lowest since Dec. 26 at $1,265.90.
U.S. gold futures settled $6.20 higher at $1279.40.
· This “insignificant move in gold is just a technical bounce from the hard sell-off yesterday,”...
· Gold prices were little changed on Thursday as a firm dollar nullified support from faltering equities and a slew of weak economic data from far and wide that raised flags about the pace of global economic growth.
Spot gold was steady at $1,275.51 per ounce, as of 0548 GMT. U.S. gold futures slipped 0.1 percent to $1,277.60 an ounce.
· Asian shares took a hit after data showed German business morale deteriorated in April as trade tensions hurt the industrial engine of Europe’s largest...
· Gold prices fell to a near four-month low on Tuesday as the dollar gained and investors preferred riskier assets, dampening the safe-haven metal’s appeal.
· Spot gold was down 0.6 percent at $1,266.98 per ounce, after falling to its lowest since Dec. 26 at $1,265.90.
· U.S. gold futures fell 0.7 percent to $1,268.70 an ounce.
· “Gold traders are on the sidelines because of the strength in the dollar, stock and bond markets,” said George Gero, managing director at RBC Wealth...
· Gold prices fell on Wednesday to hover around a four-month low touched in the previous session, as the dollar gained after strong U.S. housing data dampened concerns about an economic slowdown in the country, amid upbeat risk appetite.
Spot gold was down 0.2 percent at $1,269.93 per ounce by 0602 GMT, having hit its lowest since the end of last year at $1,265.90 in the last session.
U.S. gold futures were 0.1-percent lower at $1,271.80 an ounce.
· “The major factor that is pressuring...
· Gold steadied on Monday, holding above a nearly four-month low touched the previous session on support from a weaker dollar and expectations the United States would put further restrictions on Iran’s oil exports.
Spot gold was slightly up 0.1 percent at $1,275.62 per ounce. On Thursday, it touched $1,270.63, its lowest since Dec. 27. The market was closed on Friday.
U.S. gold futures settled $1.60 higher at $1,277.60 an ounce.
· The United States has “taken an aggressive move...
Gold continued its downtrend falling $15 in the week which again was a $20-$22 ranged one. The fresh decline raises the bar for further downside as technical support of a pattern gave way which was also retested it the week itself allowing it to become an immediate resistance for the price going ahead. Fundamental news keep coming out and last week saw the re-surface of much talked ‘impeachment’ of American President which can again sway the prices. The bearish trend is getting stronger...
· Gold edged lower on Tuesday as strong equities provided a risk-conducive backdrop for investors, countering support from Washington’s move to end waivers on Iranian oil sanctions.
Spot gold fell 0.1 percent to $1,273.18 per ounce as of 0750 GMT. U.S. gold futures shed 0.2 percent to $1,275 an ounce.
· “Gold is currently trying to find a short-term bottom around an ounce level, especially as equity markets continue to rally,” said Margaret Yang, an analyst with CMC Markets...
Wall Street leans slightly bearish and Main Street slightly bullish in the weekly Kitco News gold survey.
Neither the bulls nor the bears had an outright majority in either survey, however. The Wall Street bulls figure gold is due for a corrective bounce higher, while the bears look for the downward momentum to continue due to technical-chart damage and recently stronger equities.
Fifteen market professionals took part in the Wall Street survey. Six voters, or 40%, look for gold to continue its recent...
· Gold prices rebounded on Monday from a near four-month trough hit in the previous session as investors resumed trading after the Easter holiday, with the bullion gaining further traction on higher crude rates.
Spot gold was up 0.3 percent at $1,278.86 per ounce, as of 0538 GMT, having touched $1,270.63 in the previous session - its lowest since Dec. 27, 2018.
The metal dropped 1.2 percent in the previous week, marking a fourth consecutive weekly decline.
U.S. gold futures climbed 0.4 percent...
· Gold held steady near a four-month low on Thursday as a stronger dollar offset concerns over global economic growth after the release of weak manufacturing data out of Europe.
· Spot gold was nearly unchanged at $1,273.79 per ounce, having fallen to its lowest since Dec. 27 at $1,270.63 earlier in the session. U.S. gold futures settled $0.80 lower at $1,276.
· The metal has so far lost about 1.3 percent in the holiday-shortened week and was on track for a fourth straight weekly decline....
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Commerzbank: Central Banks Still Accumulating Gold
Central banks are still adding gold to their reserves, says Commerzbank, citing data compiled by the International Monetary Fund. Some of the biggest buyers in March were Turkey (17 tonnes) and Kazakhstan (over five tonnes), Commerzbank says. By contrast, Argentina reduced its gold reserves by nearly seven tonnes tons, the bank points out. “Last week already saw the Chinese central bank report further gold purchases,” Commerzbank...
· Gold eased on Wednesday, holding near the 2019 lows touched in the previous session, as economic growth data from China assuaged concerns about global growth and drove investors into riskier assets.
· Spot gold dipped 0.1 percent to $1,274.43 per ounce as of 12:40 p.m., after having fallen as much as 1.2 percent to $1,272.70, its lowest since Dec. 27, on Tuesday.
U.S. gold futures settled $0.40 lower at $1,276.80.
· “The pretty good Chinese data implies the concerns of a slowdown in...
· Gold fell to its lowest since end-December on Thursday as indications that the global economy might not be as pain-stricken as previously feared prompted investors to take risks ahead of a slew of economic data.
Spot gold fell 0.1 percent to $1,271.97 per ounce by 0345 GMT, having fallen to $1,270.99 earlier in the session, its lowest since Dec. 27.
The metal has so far lost about 1.4 percent in the holiday-shortened week, and is on track for a fourth straight weekly decline. Most markets...
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