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POPULAR NEWS
Gold prices down a third straight session to lowest finish in a year

Gold futures fell a third session in a row on Tuesday to mark another finish at their lowest level in a year. Strength in the U.S. dollar following testimony from U.S. Federal Reserve Chairman Jerome Powell that backed continued hikes in interest rates kept pressure on gold. August gold fell $12.40, or 1%, to settle at $1,227.30 an ounce, the lowest for a most-active contract since July 13, 2017, according to FactSet data. Source : Marketwatch

Gold settles with a slight gain, avoids correction territory

Gold prices settled slightly higher on Wednesday, ending a three-session streak of declines as a benchmark dollar index eased back toward session lows, allowing the yellow metal to avoid a finish in correction territory. August gold tacked on 60 cents, or less than 0.1%, to settle at $1,227.90 an ounce, giving up earlier declines that saw prices touch a low of $1,220.90. The precious commodity has thus far tumbled 9.9% since its peak on Jan. 15 at $1,362.90 an ounce, placing it near...

Gold prices steady as dollar firms after Fed comments

Gold prices on Wednesday held steady near a one-year low hit in the previous session, as the dollar firmed after Federal Reserve Chairman Jerome Powell's U.S. economic outlook reinforced views the central bank is on track to steadily hike interest rates. Spot gold was largely unchanged at $1,227.16 an ounce at 00:47 GMT. On Tuesday, it fell 1 percent and hit its lowest since last July at $1,225.58. U.S. gold futures for August delivery were little changed at $1,227 an...

Gold aims to snap 2-session skid as dollar gauge sees muted action

Gold prices on Tuesday edged higher, attempting to snap a two-session slide and halt a broader downturn that has taken the commodity to its lowest levels in about a year. August gold ticked up $1.30, or 0.1%, to $1,241 an ounce, after the most-active contract marked the lowest settlement since July 17, 2017 on Monday, according to FactSet data. Gold has ended lower in the past two sessions and has finished in the red in four of the past five trading days. A popular fund tracking gold, the...

Powell says more gradual interest-rate hikes is the 'best way forward''

Federal Reserve Chairman Jerome Powell on Tuesday said continued gradual interest-rate hikes was the "best way forward" for monetary policy. "With a strong job market, inflation close to our objective, and the risks to the outlook roughly balanced, the FOMC believes that - for now - the best way forward is to keep gradually raising the federal funds rate," Powell said in testimony to the Senate Banking Committee. Powell said the unemployment rate is expected to fall further and the Fed's...

May's Brexit Transition Push May Increase Chance of BOE Hike
Saturday, 23 September 2017 00:19 WIB | FISCAL & MONETARY |Moneter

Theresa May's speech outlining a possible transition period after Brexit may make it easier for the Bank of England to raise interest rates as soon as November.

While the prime minister largely skimmed over the economy in her highly anticipated remarks on Friday, she proposed for the first time that there be a two-year extension of the status quo as part of the U.K.'s exit from the European Union. That would mean Britain would be less likely to suffer the cliff-edge scenario of dropping out of the bloc with no deal.

Crucially, the BOE assumes a smooth Brexit for its economic forecasts. It will update those projections Nov. 2, when there's a chance it may also increase interest rates for the first time in more than a decade. While May's speech in Florence, Italy didn't go as far as might have been expected given the buildup, it did provide some new details on transition and payments to the EU.

"The real crunch will come next month when EU leaders judge whether sufficient progress has been made in the talks to begin trade negotiations," said Dan Hanson and Jamie Murray, economists at Bloomberg Intelligence in London. "May™s conciliatory tone was a step in the right direction. The Bank of England is likely to see her remarks as removing another potential barrier to lifting interest rates in November."

In general, the response to May's speech was that she may not have gone far enough. The pound declined as she spoke and was down 0.5 percent at $1.3513 as of 4:40 p.m. in London.

JPMorgan Chase & Co. economist Malcolm Barr said while the U.K. "has taken a limited step toward a more pragmatic stance on the initial legal exit from the EU that emerged over the summer, its position appears to remain deeply conflicted."

James Knightley, at ING, said May's speech was "conciliatory yet thin on details." But while the cliff-edge possibility hasn't disappeared, the chance of a transition deal -- which would extend current EU-U.K. arrangements for 3 1/2 years -- may encourage investment. 

"If there is a little more business optimism and this translates into stronger economic activity, this could see the Bank of England becoming more inclined to raise interest rates," he said.

 

Source: Bloomberg

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POPULAR NEWS
Gold prices down a third straight session to lowest finish in a year

Gold futures fell a third session in a row on Tuesday to mark another finish at their lowest level in a year. Strength in the U.S. dollar following testimony from U.S. Federal Reserve Chairman Jerome Powell that backed continued hikes in interest rates kept pressure on gold. August gold fell $12.40, or 1%, to settle at $1,227.30 an ounce, the lowest for a most-active contract since July 13, 2017, according to FactSet data. Source : Marketwatch

Gold settles with a slight gain, avoids correction territory

Gold prices settled slightly higher on Wednesday, ending a three-session streak of declines as a benchmark dollar index eased back toward session lows, allowing the yellow metal to avoid a finish in correction territory. August gold tacked on 60 cents, or less than 0.1%, to settle at $1,227.90 an ounce, giving up earlier declines that saw prices touch a low of $1,220.90. The precious commodity has thus far tumbled 9.9% since its peak on Jan. 15 at $1,362.90 an ounce, placing it near...

Gold prices steady as dollar firms after Fed comments

Gold prices on Wednesday held steady near a one-year low hit in the previous session, as the dollar firmed after Federal Reserve Chairman Jerome Powell's U.S. economic outlook reinforced views the central bank is on track to steadily hike interest rates. Spot gold was largely unchanged at $1,227.16 an ounce at 00:47 GMT. On Tuesday, it fell 1 percent and hit its lowest since last July at $1,225.58. U.S. gold futures for August delivery were little changed at $1,227 an...

Gold aims to snap 2-session skid as dollar gauge sees muted action

Gold prices on Tuesday edged higher, attempting to snap a two-session slide and halt a broader downturn that has taken the commodity to its lowest levels in about a year. August gold ticked up $1.30, or 0.1%, to $1,241 an ounce, after the most-active contract marked the lowest settlement since July 17, 2017 on Monday, according to FactSet data. Gold has ended lower in the past two sessions and has finished in the red in four of the past five trading days. A popular fund tracking gold, the...

Powell says more gradual interest-rate hikes is the 'best way forward''

Federal Reserve Chairman Jerome Powell on Tuesday said continued gradual interest-rate hikes was the "best way forward" for monetary policy. "With a strong job market, inflation close to our objective, and the risks to the outlook roughly balanced, the FOMC believes that - for now - the best way forward is to keep gradually raising the federal funds rate," Powell said in testimony to the Senate Banking Committee. Powell said the unemployment rate is expected to fall further and the Fed's...

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