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POPULAR NEWS
Gold Expected To Gain Some Luster After Fed

Wall Street and Main Street both look for gold prices to rise this week, based on the weekly Kitco News gold survey. The U.S. Federal Open Market Committee meeting is widely expected to hike interest rates another 25 basis points this week. But that hasn't deterred analysts, who suggest this is already factored into prices. Eighteen market professionals took part in the Wall Street survey. Thirteen respondents, or 72%, predicted higher prices. There were two votes, or 11%, calling for lower...

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Aussie Falls, Asia Stocks Face Drop on Trade Woes

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Yen Inches Up as China Cancels Trade Talks, Dollar Also Gains

The Japanese yen edged up on Monday as China cancelled its planned trade talks with the U.S. The dollar also gained following the news. Meanwhile, the U.S. tariffs on $200 billion worth of Chinese goods and retaliatory tariffs by Beijing on $60 billion worth of U.S. products are set to kick in today. The USD/JPY pair was down 0.01% to 112.56 by 11:50PM ET (03:50 GMT). The U.S. dollar index, which tracks the greenback against a basket of currencies, was up 0.06% to 93.84. The Australian...

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Gold Is Escaping The 'December Curse' But Silver Isn't - Analyst
Tuesday, 5 December 2017 19:58 WIB | GOLD CORNER |Gold OutlookGold Corner

Gold is unlikely to end the year at yearly lows, but it won't be able to escape the December curse entirely, according to one commodity analyst.

Since 2013, gold has carved out a fairly familiar year-end pattern with prices falling to or near yearly lows in December. And during the last month of 2015, gold hit multi-year lows, which has now become the floor in a new bull market for many analyst.

Andrew Hecht, creator of the Hecht Commodity Report, said that negative sentiment is growing in the gold market as prices hover near the bottom end of a narrow range. However, he added that the market is in a very different shape than it was during the past two years.

œIt is possible that as the dollar is a lot closer to the lows than the highs this year, precious metals will not repeat their price action of the previous two years, he said in a recent commentary. œGold is going into the final month of 2017 with a strong and bullish tone compared to the price action at the end of 2015 and 2016. Higher rates are likely weighing on the yellow metal while the price action in the dollar and geopolitical landscape combine to provide support for the price of the precious metal that thrives during times of fear and uncertainty.

Despite struggling in its narrowest trading range in more than a decade, gold has shown some resilience, as prices remain up 10% since the start of the year. February gold futures last traded at $1,248.30 an ounce, down 0.31% on the day.

While gold is ending the year with bullish potential, Hecht also warned that it does face headwinds like a weaker silver market.

In 2017, silver has struggled and is currently flat on the year. March silver futures last traded at $16.37 an ounce, down 0.14% on the day.

œMany market participants have thrown in the towel in silver and the metal is not attracting speculative demand in the current environment. The weakness in silver could continue to weigh on the price of gold, he said.

Source: Kitco News

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POPULAR NEWS
Gold Expected To Gain Some Luster After Fed

Wall Street and Main Street both look for gold prices to rise this week, based on the weekly Kitco News gold survey. The U.S. Federal Open Market Committee meeting is widely expected to hike interest rates another 25 basis points this week. But that hasn't deterred analysts, who suggest this is already factored into prices. Eighteen market professionals took part in the Wall Street survey. Thirteen respondents, or 72%, predicted higher prices. There were two votes, or 11%, calling for lower...

Gold Drops Second Day as Trade War, Rate Hike in Focus

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Oil Rises Near 2-Month High as OPEC Stops Short of Pledging More

Oil climbed near the highest level in more than two months as OPEC gave a tepid response to U.S. President Donald Trump's demand that it take rapid action to reduce prices, saying it would boost output only if customers requested it. Futures in New York rose as much as 1.2 percent after a 0.7 percent gain Friday. the Organization of Petroleum Exporting Countries and its allied producers stopped short of promising specific extra volumes of crude after the group™s meeting...

Aussie Falls, Asia Stocks Face Drop on Trade Woes

The Australian dollar sank and Asian stocks looked set for declines after China on Saturday called off planned trade talks with U.S. officials. The yen pared its initial advance Monday morning, with early moves lower fading for the Australian and New Zealand dollars following the latest development in the trade war. The U.S. and China are hours away from a new round of tariffs on each other™s goods. The yen rose less than 0.1 percent to 112.54 per dollar as of 7:53 a.m....

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