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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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Mitsubishi: Gold Price 'Will Most Likely Once Again Break Above $1,300'
Monday, 25 September 2017 22:34 WIB | GOLD CORNER |Gold OutlookGold Corner

Mitsubishi looks for gold to regain the $1,300-an-ounce level due to political and geopolitical worries, assuming the U.S. dollar does not flex its muscles too much. The metal tends to move inversely to the greenback.

The most-active Comex gold futures contract fell below $1,300 last week for the first time since August, pressured by a Federal Reserve meeting in which policymakers said they would start to scale back their balance sheet, plus their communications were taken to mean a rate hike may happen yet again in December, with more next year, Mitsubishi says.

However, the firm sees better days ahead for gold. œAmid selling of U.S. government debt securities, yields on the two-year U.S. Treasury note rose to 1.45%, the highest since 2008, Mitsubishi says. œThe resulting flattening of the spread between two- and 10-year U.S. Treasury yields (close to the lowest since the financial crisis) illustrates how investors are rotating out of what is perceived as riskier short-term government debt and into longer-term securities “ a factor that should be positive for gold as a traditional safe haven.

Ongoing political and economic risks, from North Korea™s nuclear ambitions to the second installment of the U.S. debt-ceiling crisis ahead of its December expiry, help explain why gold has not retreated further in recent days and ought to stay well supported, and will most likely once again break above $1,300 again if the dollar stays weak.

 

Source: KitcoNews

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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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