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POPULAR NEWS
Gold books back-to-back loss to finish around 2018's lows

Gold prices on Monday fell for a second straight session, failing at an earlier attempt to rebound to book another finish at their lowest in roughly a year. Prices for the metal declined as U.S. economic data did little to unseat expectations for higher interest rates over coming months”an outlook that has driven the greenback higher this year and helped to sink dollar-denominated gold. August gold fell by $1.50, or 0.1%, to settle at $1,239.70 an ounce. Prices based on the most-active...

Wall. St. Sees More Weakness In Gold Price; Main St. Leans Bullish

Wall Street looks for the recent slide in gold prices to continue, while the largest block of Main Street voters is bullish, according to the Kitco News weekly survey. Nineteen market professionals took part in the survey. There were 12 votes, or 63%, calling for gold prices to fall. There were four votes, or 21%, calling for gold to rise, while three voters, or 16%, look for a sideways market. Meanwhile, 642 voters responded in an online Main Street survey. A total of 280 respondents, or...

Gold Holds Drop Before Powell Speaks; ETF Holdings Sag

Gold holds two-day drop before Federal Reserve Chairman Jerome Powell's testimony, which may give insight into pace of tightening, trade tensions. Investors exit exchange-traded funds for fifth day. Bullion for immediate delivery weakened 0.1% to $1,239.17/oz at 9:17am in Singapore, after losing 0.5% in previous 2 days: Bloomberg generic pricing. Price set for lowest close since July 2017. Bloomberg Dollar Spot Index steady after slipped 0.2% Monday. Fed™s Powell...

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 Holds Drop Amid Trade Tension; Powell Speech Eyed

Gold holds drop amid ongoing trade tensions and as investors await Federal Reserve Chairman Jerome Powell's speech later this week for further clues on the central bank's monetary policy path. Bullion for immediate delivery little changed at $1,243.55/oz at 9:27am in Singapore, after lost 0.3% Friday, according to Bloomberg generic pricing. This metal lost 0.9% last week. Bloomberg Dollar Spot Index flat after added 0.6% last week. œWhile the USD strength is...

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Don't Get Too Excited About Gold's Bounce; Interest Rates Are Going Higher
Tuesday, 10 October 2017 04:17 WIB | GOLD CORNER |Gold OutlookGold Corner

While bargain hunters are stepping in to push gold prices off Friday's two-month low, some analysts are warning traders and investors to use some caution at current levels.

Lukman Otunuga, research analyst at FXTM, said that short-term bulls appear to be exploiting renewed geopolitical uncertainty as rhetoric between North Korea and U.S. President Donald Trump continue to heat up. However, he warned that upside potential for the yellow metal could be limited as the U.S. dollar continues to strengthen on rising potential for a U.S. interest-rate hike in December.

œTechnical traders will be paying very close attention to how prices react above the $1,280 resistance level. A technical bounce seems to be in play, with bears still in firm control below the psychological $1,300 level.  Sustained weakness back below $1,280 should forge a path back towards $1,267, he said in research note Monday.

December gold futures settled at $1,282 30 an ounce, up 0.8% on the day.

Looking at rate expectations, CME 30-day Fed fund futures are pricing in an almost 92% chance of a rate hike by December. Expectations have spiked higher compared to a week ago, when markets were pricing in a 76% chance.

Phillip Streible, senior market analyst at RJO Futures, said that with interest-rate expectations so high, it is difficult to get excited about a one-day bounce in the gold market.

œWe are in a downward-sloping channel and traders should be looking at selling rallies with prices below $1,300, he said.

Not only are rate expectations at their highest levels so far this year, U.S. economic data remain relatively positive, which is supporting equity markets, Streible added.

Streible said that with his current bearish outlook, he expects gold prices to fall to key support at $1,250 an ounce.

 

Source: Kitco News

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POPULAR NEWS
Gold books back-to-back loss to finish around 2018's lows

Gold prices on Monday fell for a second straight session, failing at an earlier attempt to rebound to book another finish at their lowest in roughly a year. Prices for the metal declined as U.S. economic data did little to unseat expectations for higher interest rates over coming months”an outlook that has driven the greenback higher this year and helped to sink dollar-denominated gold. August gold fell by $1.50, or 0.1%, to settle at $1,239.70 an ounce. Prices based on the most-active...

Wall. St. Sees More Weakness In Gold Price; Main St. Leans Bullish

Wall Street looks for the recent slide in gold prices to continue, while the largest block of Main Street voters is bullish, according to the Kitco News weekly survey. Nineteen market professionals took part in the survey. There were 12 votes, or 63%, calling for gold prices to fall. There were four votes, or 21%, calling for gold to rise, while three voters, or 16%, look for a sideways market. Meanwhile, 642 voters responded in an online Main Street survey. A total of 280 respondents, or...

Gold Holds Drop Before Powell Speaks; ETF Holdings Sag

Gold holds two-day drop before Federal Reserve Chairman Jerome Powell's testimony, which may give insight into pace of tightening, trade tensions. Investors exit exchange-traded funds for fifth day. Bullion for immediate delivery weakened 0.1% to $1,239.17/oz at 9:17am in Singapore, after losing 0.5% in previous 2 days: Bloomberg generic pricing. Price set for lowest close since July 2017. Bloomberg Dollar Spot Index steady after slipped 0.2% Monday. Fed™s Powell...

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 Holds Drop Amid Trade Tension; Powell Speech Eyed

Gold holds drop amid ongoing trade tensions and as investors await Federal Reserve Chairman Jerome Powell's speech later this week for further clues on the central bank's monetary policy path. Bullion for immediate delivery little changed at $1,243.55/oz at 9:27am in Singapore, after lost 0.3% Friday, according to Bloomberg generic pricing. This metal lost 0.9% last week. Bloomberg Dollar Spot Index flat after added 0.6% last week. œWhile the USD strength is...

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