DJIA
Last loading.. Chg. loading..
FTSE
Last loading.. Chg. loading..
NDXI
Last loading.. Chg. loading..
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...

Home

Gold Prices Need To Hold $1,280 As U.S. Dollar Moves Higher - Saxo Bank
Wednesday, 2 May 2018 15:28 WIB | GOLD CORNER |Gold OutlookGold Corner

The gold market, which is trading at a four-month low is entirely at the mercy of the U.S. dollar, which is seeing a surge in momentum, pushing to a four-month high, according to one commodity analyst.

Ole Hansen, head of commodity strategy at Saxo bank said in a report Monday that the two support levels he is watching very closely are $1,300 an ounce and then $1,280 an ounce.

œMultiple failures since 2016 in breaking above an area between $1,365 and $1,375/oz has left the [gold] market nervous with the focus once again on finding support. He said. œThe potential success of these two levels in capping the downside at this stage is mostly in the hands of the dollar and its short-.term trajectory.

Hansen™s comments come as the gold prices have fallen to within a hair™s breadth of his first initial support target. June gold futures last traded at $1,307.10 an ounce, down 0.92% on the day and its lowest level since late December. The selling pressure in gold was exacerbated after prices fell below the 200-day moving, which came in at $1,313.50 an ounce. Meanwhile, the U.S. Dollar Index is currently trading at 92.37 points, the highest level since early January. Momentum picked up as the index broke above its 200-day moving average, which comes in at 92.01 points.

Unfortunately for the gold market, Hansen said that the U.S. dollar could continue to push higher as investors cover their massive short position. Trade data, he explained shows speculative bearish positions against the U.S. dollar are starting to shift after hitting a seven-year high.

œThe current strength of the dollar, driven by short-covering, rising bond yields and a slowdown in Europe, has rattled a market which previously held a general belief that the greenback would continue to weaken, he said.

Although gold appears directionless, the near term Hansen said that there are positive long-term trends for the precious metal, including an overall uptrend within the commodity sector, higher inflation pressures and ongoing geopolitical uncertainty, even if tensions have eased recently.

œThe threat of trade war between the US and China and more importantly the US and Iran remains in place and both could quickly reverse the current lack of focus, he said.

Hansen added that while the futures market has suffered, there is still healthy demand from retail investors as physical holdings of gold-backed exchange traded products has risen to their highest level since 2013, totaling 2,341 tonnes.

Source: Kitco News

RELATED NEWS
Wall. St., Main St. See Higher Gold Prices...
Monday, 18 June 2018 17:03 WIB

Wall Street dan Main Street keduanya melihat harga emas untuk naik minggu ini, berdasarkan survei mingguan Kitco News. Logam ini berada dalam rentang perdagangan terbatas untuk sebagian besar pekan l...

Wall St., Main St. See Gold Price Rising During FOMC Week...
Monday, 11 June 2018 11:11 WIB

Wall Street dan Main Street sama-sama melihat harga emas untuk naik minggu ini meskipun Komite Pasar Terbuka Federal secara luas diperkirakan akan menaikkan suku bunga AS lagi, berdasarkan survei ming...

Gold To Do Better In June As Dollar Rally Stalls - INTL FCStone...
Tuesday, 5 June 2018 05:12 WIB

Emas akan memiliki bulan yang lebih baik pada bulan Juni menyusul penurunan ke bawah level psikologis kunci $ 1.300 per ounce pada bulan Mei, kata IntL FCStone, menambahkan bahwa rally dolar AS akan k...

Price Bounce Expected To Continue...
Tuesday, 29 May 2018 05:14 WIB

Wall Street dan Main Street keduanya melihat emas untuk melanjutkan pemulihan harga minggu ini, berdasarkan survei emas mingguan Kitco News. Emas naik kembali level $ 1.300-an-ons selama bagian akhir...

These 3 Drivers Will Support Gold In The Short-Term - ING...
Tuesday, 22 May 2018 05:01 WIB

Bahkan meski emas terus diperdagangkan di bawah level $ 1.300, "kasus mendasar untuk memegang" logam kuning tetap utuh, kata bank Belanda ING, mencatatkan tiga penggerak utama yang akan memberikan duk...

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...

DISCLAIMER

Seluruh materi atau konten yang tersaji di dalam website ini hanya bersifat informatif saja, dan tidak dimaksudkan sebagai pegangan serta keputusan dalam investasi atau jenis transaksi lainnya. Kami tidak bertanggung jawab atas segala akibat yang timbul dari penyajian konten tersebut. Semua pihak yang mengunjungi website ini harus membaca Terms of Service (Syarat dan Ketentuan Layanan) terlebih dahulu dan dihimbau untuk melakukan analisis secara independen serta memperoleh saran dari para ahli dibidangnya.