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POPULAR NEWS
Gold prices settle at lowest in 5 weeks

Gold prices settled with a loss on Wednesday, as strength in the U.S. dollar and Treasury yields and some gains in the stock market combined to push the precious metal to its lowest finish in five weeks. June gold declined by $10.20, or 0.8%, to settle at $1,322.80 an ounce-the lowest for a most-active contract since March 21. Source: Marketwatch

Oil prices end higher on bets the U.S. will reimpose sanctions on Iran

Oil futures ended higher Wednesday, buoyed by the possibility that the U.S. will reimpose sanctions on Iran. The deadline for the U.S. decision on whether to extend waivers on Iranian sanctions is May 12. If sanctions are reimposed, that may contribute to tighter global supplies. June West Texas Intermediate crude rose 14 cents, or 0.2%, to settle at $68.19 a barrel on the New York Mercantile Exchange. Source: marketwatch

Gold prices extend losses to finish at another 5-week low

Gold prices fell for a second straight session on Thursday to again finish at their lowest level in about five weeks. June gold declined by $4.90, or 0.4%, to settle at $1,317.90 an ounce-the lowest for a most-active contract since March 20. The precious metal failed to find support from a pullback in U.S. Treasury yields, as strength in the U.S. dollar and gains in the stock market helped dull demand for gold. Source: Marketwatch

Dollar hits 3-month high as 10-year yield rises above 3%

The U.S. dollar broadly advanced Wednesday, resuming its recent uptrend inspired by higher Treasury yields, as the 10-year yield pushed further above 3%. The ICE U.S. Dollar Index which gauges the buck against a basket of six currencies, rose 0.4% to 91.156, its highest level since mid-January according to FactSet data. On Tuesday, the index fell 0.2%. The WSJ Dollar Index which measures the greenback against a wider basket of currencies, gained 0.4% to 85.20, also its highest since...

Tokyo Stocks Open Higher on Cheaper Yen

Tokyo stocks opened higher on Thursday, as a cheaper yen helped boost market sentiment with investors pursuing shares in companies expected to report brisk earnings. The benchmark Nikkei 225 index gained 0.32 percent, or 70.42 points, to 22,285.74 in early trade, while the broader Topix index was up 0.27 percent, or 4.69 points, at 1,772.42. Source : AFP

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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 prices settle at lowest in 5 weeks

Gold prices settled with a loss on Wednesday, as strength in the U.S. dollar and Treasury yields and some gains in the stock market combined to push the precious metal to its lowest finish in five weeks. June gold declined by $10.20, or 0.8%, to settle at $1,322.80 an ounce-the lowest for a most-active contract since March 21. Source: Marketwatch

Oil prices end higher on bets the U.S. will reimpose sanctions on Iran

Oil futures ended higher Wednesday, buoyed by the possibility that the U.S. will reimpose sanctions on Iran. The deadline for the U.S. decision on whether to extend waivers on Iranian sanctions is May 12. If sanctions are reimposed, that may contribute to tighter global supplies. June West Texas Intermediate crude rose 14 cents, or 0.2%, to settle at $68.19 a barrel on the New York Mercantile Exchange. Source: marketwatch

Gold prices extend losses to finish at another 5-week low

Gold prices fell for a second straight session on Thursday to again finish at their lowest level in about five weeks. June gold declined by $4.90, or 0.4%, to settle at $1,317.90 an ounce-the lowest for a most-active contract since March 20. The precious metal failed to find support from a pullback in U.S. Treasury yields, as strength in the U.S. dollar and gains in the stock market helped dull demand for gold. Source: Marketwatch

Dollar hits 3-month high as 10-year yield rises above 3%

The U.S. dollar broadly advanced Wednesday, resuming its recent uptrend inspired by higher Treasury yields, as the 10-year yield pushed further above 3%. The ICE U.S. Dollar Index which gauges the buck against a basket of six currencies, rose 0.4% to 91.156, its highest level since mid-January according to FactSet data. On Tuesday, the index fell 0.2%. The WSJ Dollar Index which measures the greenback against a wider basket of currencies, gained 0.4% to 85.20, also its highest since...

Tokyo Stocks Open Higher on Cheaper Yen

Tokyo stocks opened higher on Thursday, as a cheaper yen helped boost market sentiment with investors pursuing shares in companies expected to report brisk earnings. The benchmark Nikkei 225 index gained 0.32 percent, or 70.42 points, to 22,285.74 in early trade, while the broader Topix index was up 0.27 percent, or 4.69 points, at 1,772.42. Source : AFP

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