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POPULAR NEWS
Gold Futures Fall to 2-Week Low as Haven Demand Wanes

Gold declines to a 2-week low as demand for a haven eased amid cooling geopolitical tensions and a rally in the dollar. Bullion futures for delivery in June fell 1.1% to settle at $1,324/oz at 1:30pm on Comex in New York, its third consecutive decline. It touched $1,323.80, lowest since Apr. 6. Bloomberg Dollar Spot Index climbs to highest since Jan. 18.  œThe sell-off in gold is mainly due to the strength in the dollar index,Naeem Aslam, chief market analyst at...

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BMO Sees Average Gold Price of $1,280/Oz in 2018
Wednesday, 20 December 2017 05:00 WIB | GOLD CORNER |Gold OutlookGold Corner

Gold prices will average $1,280 an ounce in 2018, with buying interest, as an inflation hedge and due to loose monetary policy globally, offset by a strong U.S. dollar, said BMO Capital Markets in a report late Monday.

œA slow and steady interest-rate hike cycle proposed by the Federal Reserve and subdued investor demand are expected to keep prices in check and cap any significant upside potential, the bank said.

Analysts described the metal as œremarkably stable over the last two years, compared to the broader commodity complex, saying gold prices were range-bound during normalization of monetary policy and as dissipating geopolitical risks meant less safe-haven interest. This was offset by building inflationary pressures, which meant some market participants are looking to increase their allocation to gold as a hedge.

œWe see benefit coming from still-loose monetary policy and renewed inflation concerns, but potential for headwinds from dollar strength, BMO said.

Macroeconomic data point to a strong U.S. economy, with the labor market nearing full employment, BMO said. U.S. inflation is forecast to slowly move toward the long-term target of 2%, BMO continued. The market anticipates at least two more Federal Reserve rate hikes in 2018 in the wake of another 25-basis-point tightening in December.

œWith this outlook already priced in at the current price levels, we do not expect a significant deviation from the expected range-bound outlook over the near term unless the U.S. Fed drastically shifts from its current policy framework, BMO said.

Traders will be closely watching for any monetary-policy signals from incoming Fed Chair Jerome Powell, although he is expected to maintain the course set by outgoing Chair Janet Yellen, BMO said.

Meanwhile, gold should benefit from œover-allocation by investors in emerging-market nations who have a lack of other options, BMO said.

The bank™s $1,280-an-ounce outlook for gold in 2018 is a downward revision of 1.5% from its previous estimate. Analysts then look for a $1,250 gold average in 2019.

Source: Kitco News

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POPULAR NEWS
Gold Futures Fall to 2-Week Low as Haven Demand Wanes

Gold declines to a 2-week low as demand for a haven eased amid cooling geopolitical tensions and a rally in the dollar. Bullion futures for delivery in June fell 1.1% to settle at $1,324/oz at 1:30pm on Comex in New York, its third consecutive decline. It touched $1,323.80, lowest since Apr. 6. Bloomberg Dollar Spot Index climbs to highest since Jan. 18.  œThe sell-off in gold is mainly due to the strength in the dollar index,Naeem Aslam, chief market analyst at...

Gold futures settle higher for first time in four sessions

Gold settled higher Tuesday, for the first time in four sessions, finding support as a steep decline in a benchmark U.S stock index drove haven demand for the precious metal. June gold climbed by $9, or 0.7%, to settle at $1,333 an ounce. Source: Marketwatch

Gold On The Defensive - Peter Hug

On holiday last week, I am missing the nuance of the past few trading days. We suggested that the technical picture was looking positive with the caveat that $1,355 on a close basis was necessary to create further upside momentum. Looking at last week's charts, traders were unable to push gold through this level. The weakness overnight was generated from two factors. The first was North Korea's statement that it was prepared to suspend its nuclear program. This may prove to be a ploy to get...

Dollar remains lower as 10-year Treasury yield hits 3%

The U.S. dollar on Tuesday weakened slightly against its major rivals, but remained near three-month highs, as the 10-year Treasury yield hit the psychologically important 3% level for the first time since 2014. Rising government bond yields have been a driver for the greenback over the last several sessions, though the correlation was nowhere to be found in Tuesday™s session. The ICE U.S. Dollar Index which gauges the buck against a basket of six currencies, was down 0.2% at 90.736. A...

Oil Holds Decline as Iran Deal Proposal Eases Sanctions Concern

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