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POPULAR NEWS
Gold Settles Higher as November Inflation Data Meet Expectations And The Dollar Takes a Dip

Gold futures settled higher on Wednesday, scoring their first gain in three sessions after data showed U.S. inflation remained flat in November and the dollar took a dip after strengthening over the last two sessions. Gold for February delivery on Comex rose $2.80, or 0.2%, to settle at $1,250 an ounce, while March silver added 22.3 cents, or 1.5%, to $14.851 an ounce. The consumer-price index was unchanged in November, matching the forecast of economists polled by MarketWatch. Core CPI,...

Gold Declines as Palladium Retreats From a Record Settlement

Gold futures ended lower Thursday, with overall strength in the dollar helping the metal build on its losses for the week, while palladium eased back from the record settlement it scored in the previous session. Gold for February delivery lost $2.60, or 0.2%, to settle at $1,247.40 an ounce, giving back nearly all of the $2.80 gain it saw a day earlier. Week to date, it has lost 0.4%. March silver settled at $14.855 an ounce, up just under half a cent for the session. March palladium...

Gold Prices Jump to Session Highs After U.S. Inflation Data

Gold prices ticked higher on Wednesday, hitting the best levels of the session after data showed that U.S. consumer price growth slowed in November. Comex gold futures were up $4.00, or about 0.3%, at $1,251.20 a troy ounce by 8:45AM ET (13:45 GMT), not far from a five-month peak of $1,256.60 touched at the start of the week. Meanwhile, spot gold was trading at $1,246.28 per ounce, up $3.30, or 0.25%. In other metals action, silver futures gained 15.9 cents, or about 1.1%, at $14.78 a troy...

Gold Steady as Investors Weigh U.S. Inflation, Trade

Gold was steady as investors weighed a pickup in underlying U.S. inflation and the latest developments in U.S.-China trade talks. The so-called core consumer price index, which excludes volatile food and energy costs, rose as expected in November, reinforcing expectations that the Federal Reserve will raise interest rates next week. While trade tensions have appeared to ease, Trump administration officials on Wednesday signaled that Beijing will have to do more to end the tariff...

Gold Steady as ETF Holdings Expand to Four-Month High

Gold steadies as holdings in bullion-backed exchange-traded funds expand amid concerns about slowing global economic growth and a potential pause in interest rate increases by the Federal Reserve. The U.S. central bank is unlikely to raise rates in 2019 and 2020 based on bond market indicators and the greenback is expected to weaken, according to Jeffrey Gundlach, chief investment officer of DoubleLine Capital. Money managers reduced bearish bets on bullion in...

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Kitco News Weekly Outlook: Where Are Gold Prices Heading - Flip A Coin, Analysts
Monday, 26 February 2018 11:41 WIB | GOLD CORNER |Gold OutlookGold Corner

While there is still substantial bullish sentiment in the gold market, analysts are recommending investors taking a more cautious stance this week as prices are caught in the middle of a near-term trading range.

According to many analysts, gold's short-term technical is stuck in neutral territory; prices can just as easily fall to $1,300 an ounce, as they could rise back to test resistance at $1,360 an ounce.  April gold futures settled at $ 1,330.30 an ounce last Friday, down almost 2% from the previous week. The selloff comes after the yellow metal rallied more than 3% in the previous week, its best percentage gain in almost two years.

It's not just gold that is suffering; silver prices were also dragged lower, last trading at $16.55 an ounce, down almost 1% since last week. The market continues to struggle as prices are unable to break above key resistance at $17 an ounce.

Analysts said that gold™s correction after the failed breakout above $1,360 is not a significant surprise. But the question to answer now: does the market have further to correct before it pushes higher?

œI maintain my positive outlook for gold. If you think the global economic growth looks shaky, then you want to own some gold, Ole Hansen, head of commodity strategy at Saxo Bank. œBut I think you need to play gold cautiously and wait for the breakout."

In the near-term, he said that investors need to brace for gold prices to drop to $1,300 an ounce as U.S. bond yields and the U.S. dollar push higher.

Greg Harmon, president of Dragonfly Capital, described the gold market as floundering for direction in an environment of zero momentum.

œIf I were asked how to trade this market I would say: ˜Don't and look for something else to trade,™ he said.

Fawad Razaqzada, technical analyst at City Index, said that while gold's technical outlook is unclear, he said that he thinks the risks are skewed to the downside as he expects the U.S. dollar to find some momentum in the near-term. He added that the U.S. dollar's recent bounce off a three-year low could represent long-term support.

œI am bullish on the U.S. dollar, so I guess I'm bearish on gold, the analyst said. œThe U.S. dollar looks oversold and fundamentals don't support these lower prices.

Source: Kitco News

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POPULAR NEWS
Gold Settles Higher as November Inflation Data Meet Expectations And The Dollar Takes a Dip

Gold futures settled higher on Wednesday, scoring their first gain in three sessions after data showed U.S. inflation remained flat in November and the dollar took a dip after strengthening over the last two sessions. Gold for February delivery on Comex rose $2.80, or 0.2%, to settle at $1,250 an ounce, while March silver added 22.3 cents, or 1.5%, to $14.851 an ounce. The consumer-price index was unchanged in November, matching the forecast of economists polled by MarketWatch. Core CPI,...

Gold Declines as Palladium Retreats From a Record Settlement

Gold futures ended lower Thursday, with overall strength in the dollar helping the metal build on its losses for the week, while palladium eased back from the record settlement it scored in the previous session. Gold for February delivery lost $2.60, or 0.2%, to settle at $1,247.40 an ounce, giving back nearly all of the $2.80 gain it saw a day earlier. Week to date, it has lost 0.4%. March silver settled at $14.855 an ounce, up just under half a cent for the session. March palladium...

Gold Prices Jump to Session Highs After U.S. Inflation Data

Gold prices ticked higher on Wednesday, hitting the best levels of the session after data showed that U.S. consumer price growth slowed in November. Comex gold futures were up $4.00, or about 0.3%, at $1,251.20 a troy ounce by 8:45AM ET (13:45 GMT), not far from a five-month peak of $1,256.60 touched at the start of the week. Meanwhile, spot gold was trading at $1,246.28 per ounce, up $3.30, or 0.25%. In other metals action, silver futures gained 15.9 cents, or about 1.1%, at $14.78 a troy...

Gold Steady as Investors Weigh U.S. Inflation, Trade

Gold was steady as investors weighed a pickup in underlying U.S. inflation and the latest developments in U.S.-China trade talks. The so-called core consumer price index, which excludes volatile food and energy costs, rose as expected in November, reinforcing expectations that the Federal Reserve will raise interest rates next week. While trade tensions have appeared to ease, Trump administration officials on Wednesday signaled that Beijing will have to do more to end the tariff...

Gold Steady as ETF Holdings Expand to Four-Month High

Gold steadies as holdings in bullion-backed exchange-traded funds expand amid concerns about slowing global economic growth and a potential pause in interest rate increases by the Federal Reserve. The U.S. central bank is unlikely to raise rates in 2019 and 2020 based on bond market indicators and the greenback is expected to weaken, according to Jeffrey Gundlach, chief investment officer of DoubleLine Capital. Money managers reduced bearish bets on bullion in...

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