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POPULAR NEWS
Gold futures post a nearly 4% weekly gain

Gold futures rallied on Friday, posting a gain of 3.9% for the week and logging their highest most-active contract settlement since February 2013. "Gold has broken out of its historical shackles as a niche asset... and is on its way to much higher levels," said Peter Grosskopf, chief executive officer at Sprott, in emailed commentary. April gold rose $28.30, or nearly 1.8%, to settle at $1,648.80 an ounce. The weekly percentage climb was the largest since June, according to FactSet...

Gold Hits New 7-Year High as Virus Prompts More Upgrades

Gold prices surged to fresh seven-year highs as portfolio investors flocked to haven assets as the coronavirus spread menacingly outside of China. The number of confirmed cases in South Korea leaped to over 200, putting investors on alert for signs that the virus may be difficult to contain even in countries with advanced health care systems (and reliable data). By 7:45 AM ET (1245 GMT), gold futures for delivery on the Comex exchange were up 1.1% at $1637,65 a troy ounce, only a whisker...

Oil Recovery Falters in Face of Renewed Concern Over Virus

Oil fell, paring this week™s gain, as renewed concern over the impact of the coronavirus overshadowed hopes that China™s stimulus efforts will cushion the blow to demand. Futures in New York fell 1.6%, yet remain about 2% higher this week after China, South Korea and Singapore started rolling out measures to protect economic growth as the virus hits businesses and travel. Commodities had rallied prematurely, focusing on the planned stimulus and ignoring the immediate disruption, according...

Coronavirus Cases in Hubei Rise After Declining for 2 Days

The number of new coronavirus cases in China's Hubei province rose Friday after two straight days of declines, but the increase was still the smallest since the end of January. The Hubei health commission reported 411 new cases Friday, up from Thursday's count of 349. It also reported 115 new deaths. Hubei, and its provincial capital of Wuhan, is where the outbreak began in December. World Health Organization Director-General Tedros Adhanom Ghebreyesus said Thursday that the numbers out of...

US Futures Point to a Lower Open on Wall Street

U.S. stock index futures are pointing to a lower open on Friday morning after the number of new coronavirus cases escalated. Around 5:25 a.m. ET, Dow futures indicated a drop of more than 125 points at the open. Futures on the S&P 500 and Nasdaq were also in negative territory. Investors continue to monitor the coronavirus outbreak, with China™s National Health Commission on Thursday reporting a total of 75,465 confirmed cases and 2,236 deaths on the mainland. South Korea reported 52...

Gold to Extend Rally in 2020 as Retail Investors Climb on Board
Tuesday, 15 October 2019 08:35 WIB | PRECIOUS METALS | Spot EmasEMASGOLD

The next push in gold prices will come from retail investors as risks remain skewed to the upside, according to Standard Chartered Bank.

Having already rallied to the highest in more than six years, bullion will still benefit from safe haven flows, according to Suki Cooper, precious metals analyst at the bank. Prices will average $1,510 an ounce in the fourth quarter of 2019 and $1,570 in the same period next year, she said.

A similar trend occurred in 2011, when the initial push higher was driven by ETF flows and tactical investors, but retail demand didn't respond for another 12 to 18 months, Cooper said. While progress on trade talks has triggered near-term profit-taking in gold, which could continue as risk appetite returns, the longer-term price risks are skewed to the upside, she added.

Spot gold was steady at $1,491.63 an ounce on Tuesday, following last-month's rally to $1,557.11, the highest level since 2013. Prices touched a record of $1,921.17 in September 2011.

Source : Bloomberg

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POPULAR NEWS
Gold futures post a nearly 4% weekly gain

Gold futures rallied on Friday, posting a gain of 3.9% for the week and logging their highest most-active contract settlement since February 2013. "Gold has broken out of its historical shackles as a niche asset... and is on its way to much higher levels," said Peter Grosskopf, chief executive officer at Sprott, in emailed commentary. April gold rose $28.30, or nearly 1.8%, to settle at $1,648.80 an ounce. The weekly percentage climb was the largest since June, according to FactSet...

Gold Hits New 7-Year High as Virus Prompts More Upgrades

Gold prices surged to fresh seven-year highs as portfolio investors flocked to haven assets as the coronavirus spread menacingly outside of China. The number of confirmed cases in South Korea leaped to over 200, putting investors on alert for signs that the virus may be difficult to contain even in countries with advanced health care systems (and reliable data). By 7:45 AM ET (1245 GMT), gold futures for delivery on the Comex exchange were up 1.1% at $1637,65 a troy ounce, only a whisker...

Oil Recovery Falters in Face of Renewed Concern Over Virus

Oil fell, paring this week™s gain, as renewed concern over the impact of the coronavirus overshadowed hopes that China™s stimulus efforts will cushion the blow to demand. Futures in New York fell 1.6%, yet remain about 2% higher this week after China, South Korea and Singapore started rolling out measures to protect economic growth as the virus hits businesses and travel. Commodities had rallied prematurely, focusing on the planned stimulus and ignoring the immediate disruption, according...

Coronavirus Cases in Hubei Rise After Declining for 2 Days

The number of new coronavirus cases in China's Hubei province rose Friday after two straight days of declines, but the increase was still the smallest since the end of January. The Hubei health commission reported 411 new cases Friday, up from Thursday's count of 349. It also reported 115 new deaths. Hubei, and its provincial capital of Wuhan, is where the outbreak began in December. World Health Organization Director-General Tedros Adhanom Ghebreyesus said Thursday that the numbers out of...

US Futures Point to a Lower Open on Wall Street

U.S. stock index futures are pointing to a lower open on Friday morning after the number of new coronavirus cases escalated. Around 5:25 a.m. ET, Dow futures indicated a drop of more than 125 points at the open. Futures on the S&P 500 and Nasdaq were also in negative territory. Investors continue to monitor the coronavirus outbreak, with China™s National Health Commission on Thursday reporting a total of 75,465 confirmed cases and 2,236 deaths on the mainland. South Korea reported 52...

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