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POPULAR NEWS
Gold settles at fresh 2018 low as dollar index taps 11-month high

Gold prices marked a third straight session decline on Thursday to carve out another low for 2018 as a leading dollar index--lifted in a rising interest-rate environment--tapped its highest level since last summer. August gold lost $4, or 0.3%, to settle at $1,270.50 an ounce. Prices finished at their lowest for a most-active contract since Dec. 20, according to FactSet data. Around the metals complex, July silver rose 0.1% to $16.326 an ounce. Its Wednesday settlement at $16.309 was the...

Gold Slips to Six-Month Low on Dollar

Gold drops to lowest level in six months as the stronger-dollar environment continues to weigh on the precious metal, even as simmering trade tensions stoke concern for global growth. Bullion for immediate delivery as much as -49 cents to $1,267.37/oz, lowest since Dec. 22, and trades at $1,268.19 at 9:41am in Singapore. Bloomberg Dollar Spot Index holds near highest since July 2017. In other precious metals : Silver flat at $16.2762/oz ,Platinum -0.2% to...

Gold Near Fresh Six-Month Lows after Economic Data Release

Gold prices were trading near fresh six-month lows after the U.S. initial weekly jobless claims fell to 218,000 in the week to Saturday, the Labor Department said. The total was better than expected. In an initial reaction to data, August Comex gold futures continued to trade under pressure, last seen trading at $1,266.60, down 0.62% on the day. Prior to the data release, gold prices were driven down largely by higher U.S. dollar, according to Kitco™s senior technical analyst Jim...

Gold hits 6-month low as investors sell, dollar climbs

Gold prices sank to six-month lows on Thursday as investors sold holdings in the physical market and the dollar climbed due to expectations of higher interest rates in the United States. Spot goldwas down 0.4 percent at $1,262.78 an ounce by 09:17 GMT from an earlier $1,261.36, its lowest since Dec. 20. It has lost more than 7 percent since the April high above $1,365 an ounce. U.S. gold futures were down 0.8 percent at $1,264.50 an ounce. Holdings of the largest gold-backed exchange traded...

SNB Keeps Sight Deposit Rate at -0.75%

Swiss National Bank left the key interest rate unchanged at -0.75% Decision on sight deposit rate was expected; Bloomberg survey median: -0.75% All 20 economists forecast the key interest rate at -0.75% Since Bloomberg started surveys for the rate decision in September 2004 there have been a total of 56 rate decisions by the bank for which surveys were conducted. In all cases the survey has matched the decision made, resulting in the survey correctly predicting the decision 100.0% of the...

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Gold On The Defensive - Peter Hug
Tuesday, 24 April 2018 05:44 WIB | GOLD CORNER |Gold OutlookGold Corner

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 the U.S. to the negotiating table. It squarely puts the onus on the U.S. to follow through on the meeting. Backing away now will create the perception that the U.S., not North Korea, is the impediment to peace on the peninsula.

The second is the U.S. 10-year bond, which is approaching a 3% yield.  The increase in yield has pushed allocations into the $U.S. and hit the commodity space. Silver, which has been reacting positively in response to stronger oil prices, has also backed off its recent highs, as oil prices weaken against the quieter geopolitical landscape.

Technically, gold needs to hold support at $1322 and requires a break above the $1,337 area to spark new interest.

Source: Kitco.com

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POPULAR NEWS
Gold settles at fresh 2018 low as dollar index taps 11-month high

Gold prices marked a third straight session decline on Thursday to carve out another low for 2018 as a leading dollar index--lifted in a rising interest-rate environment--tapped its highest level since last summer. August gold lost $4, or 0.3%, to settle at $1,270.50 an ounce. Prices finished at their lowest for a most-active contract since Dec. 20, according to FactSet data. Around the metals complex, July silver rose 0.1% to $16.326 an ounce. Its Wednesday settlement at $16.309 was the...

Gold Slips to Six-Month Low on Dollar

Gold drops to lowest level in six months as the stronger-dollar environment continues to weigh on the precious metal, even as simmering trade tensions stoke concern for global growth. Bullion for immediate delivery as much as -49 cents to $1,267.37/oz, lowest since Dec. 22, and trades at $1,268.19 at 9:41am in Singapore. Bloomberg Dollar Spot Index holds near highest since July 2017. In other precious metals : Silver flat at $16.2762/oz ,Platinum -0.2% to...

Gold Near Fresh Six-Month Lows after Economic Data Release

Gold prices were trading near fresh six-month lows after the U.S. initial weekly jobless claims fell to 218,000 in the week to Saturday, the Labor Department said. The total was better than expected. In an initial reaction to data, August Comex gold futures continued to trade under pressure, last seen trading at $1,266.60, down 0.62% on the day. Prior to the data release, gold prices were driven down largely by higher U.S. dollar, according to Kitco™s senior technical analyst Jim...

Gold hits 6-month low as investors sell, dollar climbs

Gold prices sank to six-month lows on Thursday as investors sold holdings in the physical market and the dollar climbed due to expectations of higher interest rates in the United States. Spot goldwas down 0.4 percent at $1,262.78 an ounce by 09:17 GMT from an earlier $1,261.36, its lowest since Dec. 20. It has lost more than 7 percent since the April high above $1,365 an ounce. U.S. gold futures were down 0.8 percent at $1,264.50 an ounce. Holdings of the largest gold-backed exchange traded...

SNB Keeps Sight Deposit Rate at -0.75%

Swiss National Bank left the key interest rate unchanged at -0.75% Decision on sight deposit rate was expected; Bloomberg survey median: -0.75% All 20 economists forecast the key interest rate at -0.75% Since Bloomberg started surveys for the rate decision in September 2004 there have been a total of 56 rate decisions by the bank for which surveys were conducted. In all cases the survey has matched the decision made, resulting in the survey correctly predicting the decision 100.0% of the...

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