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POPULAR NEWS
Gold ends sharply higher, then holds gains after Fed meeting minutes

Gold prices ended sharply higher Wednesday, getting a boost as the U.S. dollar weakened, with the ICE U.S. Dollar Index trading near the session's lows as gold trading settled. December gold was at $1,292 an ounce, after settling with a gain of $10.50, or 0.8%, at $1,292.20 an ounce. Prices for the metal then held ground near their settlement level after minutes from the Federal Open Market Committee™s meeting earlier this month showed the central bank viewed a near-term increase in...

Dollar falls to 4-week low as Fed minutes cast doubt on 2018 rate hikes

The U.S. dollar fell to a four-week low against its major rivals on Wednesday, pummeled by mixed data and a mixed message from the minutes of the Federal Reserve™s last policy meeting. The minutes confirmed that a near-term interest rate increase was all but assured, but showed doubt over persistently low U.S. inflation grew, casting doubt on the pace of rate increases in 2018. The ICE U.S. Dollar Index was down 0.8% at 93.242. The broader WSJ U.S. Dollar Index also slipped 0.8% to...

This Is Gold's Best Chance To Break $1,300 - Saxo Bank

Gold traders need to be patient as the market remains stuck in a narrow trading range, according to one commodity analyst who sees growing potential for higher prices by the end of the year. Ole Hansen, head of commodity strategy at Saxo Bank, said that a flatter yield curve -- as the spread between two-year and 10-year bond yields has narrowed to the lowest point in 10 years -- and a struggling U.S. dollar against the Japanese yen are two positive signs for the gold market. œI am watching...

Gold Holds Gain as Dollar Drops on Inflation Concerns

Gold holds advance as dollar weakens after minutes from latest Federal Reserve meeting show that some officials expressed concerns over low inflation, hinting at divisions over future path of U.S. monetary policy. Bullion for immediate delivery -0.1% to $1,290.64/oz at 9:21am in Singapore, after +0.9% Wednesday: Bloomberg generic pricing. Bloomberg Dollar Spot Index flat after -0.7% Wednesday to lowest close in six weeks. S&P 500 Index closed slightly below...

Gold Snaps Two-Day Gain as Market Weighs Rate Outlook

Gold snaps 2-day gain as traders weighed minutes of the latest Federal Reserve meeting and as U.S. markets close for the Thanksgiving holiday. Bullion for immediate delivery -0.4% to $1,287.64/oz in London. Prices +1.2% in previous 2 days. In other precious metals, Silver -0.3% to $17.0971/oz, Platinum -0.4% to $934.81/oz and Palladium -0.2% to $1,004.35/oz. Source : Bloomberg

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Gold Seen Spiking to $1,400 at Russian Bank on Global Tensions
Monday, 14 August 2017 12:08 WIB | GOLD CORNER |Gold OutlookGold Corner

Gold prices are set to jump to a four-year high of $1,400 an ounce by the end of the year over mounting tensions between North Korea and the U.S., and surging demand in the world™s biggest consumers, according to the head of precious metals at a Russian investment bank.

Bullion could rise to $1,360 within three months before climbing higher, fueled by global political risks and buying from China and India, said Evgeny Ananiev at VTB Capital JSC, the investment-banking unit of Russia™s second-largest lender VTB Group. œWe may see some correction, but I don™t think gold will drop below $1,200 as it™s well supported, he said in a weekend interview in Goa. The metal traded at $1,289.40 on Monday.

Prices have climbed 12 percent this year, driven by worries over a potentialnuclear conflict between the U.S. and North Korea, and subdued inflation in the U.S., which is cooling chances of a further increase in interest rates. President Donald Trump has intensified warnings to North Korea, promising a massive response to any strike against the U.S. or its allies. Hedge fund billionaire Ray Dalio recommends investors place 5 to 10 percent of their assets in gold.

The upbeat sentiment was shared by other participants at the conference. œFundamentally, we have been very bullish on the market, said Chirag Sheth, an analyst at Metals Focus Ltd., an independent precious-metals research firm based in London. œWhat North Korea has done is given gold the legs to go above the $1,300 level and sustain above that level, he said in an interview.

Sheth expects prices to advance to $1,400 in six to nine months as the situation in North Korea sees investors coming back to the market in search of a haven. The U.S. Federal Reserve, which was hawkish on interest rates, has now softened its stance, providing further support to bullion, he said.

˜Hellacious War™

As Trump and Kim Jong Un traded barbs, Dalio wrote in a LinkedIn post last week that œthe world is watching to see which one will be caught bluffing, or if there will be a hellacious war. Dalio, who manages Bridgewater Associates, also said he sees rising odds of Congress failing to increase the U.S. debt ceiling, leading to a technical default.

The U.S. consumer-price index rose 1.7 percent in July from year earlier, a report showed Friday, trailing the 1.8 percent median estimate of economists surveyed by Bloomberg. Cooling price pressures could make it tougher for the U.S. central bank to raise interest rates again this year.

Indian demand has also recovered after a poor performance in 2016 and jewelry consumption may climb by about 6 percent this year, said Sheth, who provides supply and demand data to the World Gold Council. Imports may jump about 30 percent to as high as 800 metric tons in 2017, he said.

Demand for gold bars in China, the world™s biggest bullion market, soared by more than half in the first six months of the year, while overall gold consumption climbed almost 10 percent to 545.2 tons, according to the China Gold Association.

 

Source: Bloomberg 

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POPULAR NEWS
Gold ends sharply higher, then holds gains after Fed meeting minutes

Gold prices ended sharply higher Wednesday, getting a boost as the U.S. dollar weakened, with the ICE U.S. Dollar Index trading near the session's lows as gold trading settled. December gold was at $1,292 an ounce, after settling with a gain of $10.50, or 0.8%, at $1,292.20 an ounce. Prices for the metal then held ground near their settlement level after minutes from the Federal Open Market Committee™s meeting earlier this month showed the central bank viewed a near-term increase in...

Dollar falls to 4-week low as Fed minutes cast doubt on 2018 rate hikes

The U.S. dollar fell to a four-week low against its major rivals on Wednesday, pummeled by mixed data and a mixed message from the minutes of the Federal Reserve™s last policy meeting. The minutes confirmed that a near-term interest rate increase was all but assured, but showed doubt over persistently low U.S. inflation grew, casting doubt on the pace of rate increases in 2018. The ICE U.S. Dollar Index was down 0.8% at 93.242. The broader WSJ U.S. Dollar Index also slipped 0.8% to...

This Is Gold's Best Chance To Break $1,300 - Saxo Bank

Gold traders need to be patient as the market remains stuck in a narrow trading range, according to one commodity analyst who sees growing potential for higher prices by the end of the year. Ole Hansen, head of commodity strategy at Saxo Bank, said that a flatter yield curve -- as the spread between two-year and 10-year bond yields has narrowed to the lowest point in 10 years -- and a struggling U.S. dollar against the Japanese yen are two positive signs for the gold market. œI am watching...

Gold Holds Gain as Dollar Drops on Inflation Concerns

Gold holds advance as dollar weakens after minutes from latest Federal Reserve meeting show that some officials expressed concerns over low inflation, hinting at divisions over future path of U.S. monetary policy. Bullion for immediate delivery -0.1% to $1,290.64/oz at 9:21am in Singapore, after +0.9% Wednesday: Bloomberg generic pricing. Bloomberg Dollar Spot Index flat after -0.7% Wednesday to lowest close in six weeks. S&P 500 Index closed slightly below...

Gold Snaps Two-Day Gain as Market Weighs Rate Outlook

Gold snaps 2-day gain as traders weighed minutes of the latest Federal Reserve meeting and as U.S. markets close for the Thanksgiving holiday. Bullion for immediate delivery -0.4% to $1,287.64/oz in London. Prices +1.2% in previous 2 days. In other precious metals, Silver -0.3% to $17.0971/oz, Platinum -0.4% to $934.81/oz and Palladium -0.2% to $1,004.35/oz. Source : Bloomberg

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