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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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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 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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