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POPULAR NEWS
Gold Advances as German Talks Fail, U.S. Tax Weighed

Gold holds near one-month high as talks on forming German government collapse, pummeling euro and boosting haven demand. Investors also assessing uncertainty over U.S. tax reform ahead of release of Fed meeting this week. Bullion for immediate delivery as much as +0.2% to $1,294.88/oz, before trading at $1,292.60 at 9:26am in Singapore: Bloomberg generic pricing. Source : Bloomberg

Gold Gives Up Early Gains, Tracking Volatile Euro-Dollar Amid German Political Uncertainty

Gold eased Monday, giving up early gains seen amid German political uncertainty. Relative stability for the euro as Monday™s trading session progressed helped the shared currency against the dollar, dulling some of the early demand shown for the haven metal. Gold may consolidate short term after prices rallied Friday to a more than one-month high. The metal tacked on nearly 1.8% for last week, as the latest developments in the investigation into Russia™s interference in the U.S....

GBP/USD - Recovery Continues, Focus on German Politics and Brexit

GBP/USD has recovered more than 50% of its intraday losses but is struggling build momentum above 1.32 levels. The collapse of the German coalition talks and the resulting action in Asia (weak EUR, GBP) clearly indicates that investors fear "all major decisions, including Brexit negotiations" could be put on hold till the situation in Germany is sorted out. Thus, GBP could remain under pressure in Europe. The data calendar is light, but BoE Deputy Governor David Ramsden, who voted against...

Japanese Stocks Drop After Yen Advances Amid U.S. Tax Wrangle

Japanese stocks fell after the yen posted the biggest weekly gain against the dollar in more than two months as the U.S. Congress wrangled over tax reform plans. The Topix index declined after the benchmark completed its worst week in seven months, following a slide in U.S. equities on Friday. Banks dropped after U.S. 10-year Treasury yields fell, while electronics makers contributed the most to the Topix™s retreat. The yen strengthened against the euro as German Chancellor Angela...

Euro Shrugs Off German Impasse as Stocks Struggle

The euro reversed early losses as investors judged the failure of German Chancellor Angela Merkel™s coalition talks unlikely to harm the outlook for the region™s economy. German stocks remained lower with European peers, however. The dollar was little changed and Treasuries nudged higher. The Bloomberg Dollar Spot Index increased less than 0.05 percent. The euro rose 0.1 percent to $1.1798, the strongest in almost four weeks. The British pound climbed 0.4 percent to $1.3264, the...

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2018 Might Be The Perfect Time To Buy Gold - Commonwealth Bank
Friday, 3 November 2017 21:50 WIB | GOLD CORNER |Gold OutlookGold Corner

Next year is looking like a perfect time to get into the gold market, says one commodity strategist, who forecasts lower prices by the end of 2018.

œGold still has some room to give before it is a good buy. Right now, we are in a neutral position. But, I™d be more comfortable buying when we get down to at least $1,250 or below. And anything around $1,300 is a good selling level, Vivek Dhar, commodity strategist at the Commonwealth Bank of Australia (CBA), told Kitco News on Friday.

And this $1,250 level might be just around the corner, Dhar said, adding that CBA sees gold averaging $1,300 an ounce during the last quarter of this year and then coming down to $1,250 by the end of 2018.

œThe range of $1,250-$1,300 is looking to continue for the foreseeable future, he said in a telephone interview.

Some of the things to watch for as we get ready to say goodbye to 2017 is how the nomination of Federal Reserve Governor Jerome Powell as the next head of the U.S. central bank might impact gold.

œWe believe Powell is a centrist on the FOMC and is expected to maintain the Fed™s current gradual approach to interest rate normalization, Dhar said.

Another key trigger for gold will be the outcome of Trump™s tax reform. œIf that reform comes through, it will be positive for the U.S. dollar, with all the cash repatriation that would go along with that, Dhar explained. œAnd assertive U.S. dollar is negative for gold.

Other surprises in 2018 could come from geopolitical tensions, which have retreated into the background for now.

œWe saw gold prices go up above $1,300 after U.S. President Donald Trump and North Korea exchanged words. Those are the risks the market can™t forecast, Dhar said.

Geopolitical risks can work around the standard gold drivers, such as U.S. real interest rates, to boost safe-haven demand, but their effects are usually only temporary, commodity strategist added.

œRisk of escalation with North Korea has moderated now or the market had simply adjusted to it, he said. œThe general trend is when we have a risk event, it gets priced in and then stops. This was the case with North Korea, which first heavily influenced prices, but as that conversation kept going, the market looked away from it.

Source: KitcoNews

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POPULAR NEWS
Gold Advances as German Talks Fail, U.S. Tax Weighed

Gold holds near one-month high as talks on forming German government collapse, pummeling euro and boosting haven demand. Investors also assessing uncertainty over U.S. tax reform ahead of release of Fed meeting this week. Bullion for immediate delivery as much as +0.2% to $1,294.88/oz, before trading at $1,292.60 at 9:26am in Singapore: Bloomberg generic pricing. Source : Bloomberg

Gold Gives Up Early Gains, Tracking Volatile Euro-Dollar Amid German Political Uncertainty

Gold eased Monday, giving up early gains seen amid German political uncertainty. Relative stability for the euro as Monday™s trading session progressed helped the shared currency against the dollar, dulling some of the early demand shown for the haven metal. Gold may consolidate short term after prices rallied Friday to a more than one-month high. The metal tacked on nearly 1.8% for last week, as the latest developments in the investigation into Russia™s interference in the U.S....

GBP/USD - Recovery Continues, Focus on German Politics and Brexit

GBP/USD has recovered more than 50% of its intraday losses but is struggling build momentum above 1.32 levels. The collapse of the German coalition talks and the resulting action in Asia (weak EUR, GBP) clearly indicates that investors fear "all major decisions, including Brexit negotiations" could be put on hold till the situation in Germany is sorted out. Thus, GBP could remain under pressure in Europe. The data calendar is light, but BoE Deputy Governor David Ramsden, who voted against...

Japanese Stocks Drop After Yen Advances Amid U.S. Tax Wrangle

Japanese stocks fell after the yen posted the biggest weekly gain against the dollar in more than two months as the U.S. Congress wrangled over tax reform plans. The Topix index declined after the benchmark completed its worst week in seven months, following a slide in U.S. equities on Friday. Banks dropped after U.S. 10-year Treasury yields fell, while electronics makers contributed the most to the Topix™s retreat. The yen strengthened against the euro as German Chancellor Angela...

Euro Shrugs Off German Impasse as Stocks Struggle

The euro reversed early losses as investors judged the failure of German Chancellor Angela Merkel™s coalition talks unlikely to harm the outlook for the region™s economy. German stocks remained lower with European peers, however. The dollar was little changed and Treasuries nudged higher. The Bloomberg Dollar Spot Index increased less than 0.05 percent. The euro rose 0.1 percent to $1.1798, the strongest in almost four weeks. The British pound climbed 0.4 percent to $1.3264, the...

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