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POPULAR NEWS
Gold Prices Pare Losses, But Still End at a 1-Year Low

Gold futures gave up much of their declines Thursday, but still finished at their lowest in about a year. President Donald Trump voiced his disagreement with the Federal Reserve's plan for gradual increases in interest rates, prompting a decline in the benchmark dollar index which, in turn, helped to lift gold off the lows of the session. August gold settled at $1,224 an ounce, down $3.90, or 0.3%, for the session. The settlement marked gold's entry into correction territory - down more than...

Dollar on defensive against yen, euro after Trump comments

The dollar was on the defensive against the yen and euro early Friday after U.S. President Donald Trump expressed concern about the currency's strength and the Federal Reserve's interest rate increases. Trump said in an interview with CNBC on Thursday that a strong dollar puts the United States at a disadvantage, adding that the Chinese yuan œwas dropping like a rock. A strong currency tends to make a country™s exports more expensive. Trump also showed displeasure about the Fed™s...

Gold Heads for Weekly Decline as Rate Outlook in Focus

Gold drops to trade near lowest in a year as investors weigh Federal Reserve Chairman Jerome Powell's comments on interest rate outlook, as well as President Donald Trump's intervention that he's 'not thrilled' at Fed's tightening trajectory. Bullion for immediate delivery slipped 0.5% at $1,216.78/oz at 9:47am in Singapore, after hitting $1,211.63 on Thursday, lowest since July 2017: Bloomberg generic pricing. That metal lost 2.2% this week to head for fifth weekly...

Gold tumbles, poised for lowest close in more than year as dollar, rates rise

Gold prices early Thursday extended a downdraft that has pushed the metal toward its lowest close in more than a year, in an atmosphere of rising benchmark rates for U.S. government debt and the continuation of a U.S. dollar rally. August gold traded $12, or 1%, lower at $1,215.90 an ounce early Thursday. Other metals also showed signs of faltering, September silver tumbled by 32 cents, or 2.1%, to $15.260 an ounce, on track for its lowest close since early 2016. Source: Marketwatch

Gold at Lowest in a Year as Dollar Emboldens Bears

Gold trades at lowest in a year as Federal Reserve Chairman Jerome Powell™s comments on U.S. employment and inflation help to sustain expectations for another interest-rate increase in September. Bullion for immediate delivery -0.8% to $1,217.37/oz at 10:58 am in London Bloomberg Dollar Spot Index +0.4% after +0.5% past 2 days In other precious metals: Silver -1.7% to $15.2994/oz, also at lowest level this July last year. Platinum -1.6% to $805.49/oz;...

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Wall, Main St. Bullish On Gold Prices
Monday, 14 May 2018 16:17 WIB | GOLD CORNER |Gold OutlookGold Corner

Wall Street and Main Street are both heavily bullish on the near-term direction of gold prices, based on the Kitco News weekly gold survey.

The traders and analysts who take part in the Wall Street poll cite mostly technical-chart factors - in particular, gold™s ability to hold around the 200-day moving average and the psychologically important $1,300-an-ounce level during a recent price pullback. They also suggest the U.S. dollar™s recent strength may be waning.

Nineteen market professionals took part in the survey. Fifteen of the respondents, or 79%, called for gold prices to rise over the this next week. There were two votes each, or 11%, calling for gold to fall or be sideways.

Meanwhile, a larger-than-average 2,491 voters responded in an online Main Street survey. A total of 2,207 respondents, or 89%, predicted that gold prices would be higher in a week. Another 185 voters, or 7%, said gold will fall, while 99, or 4%, see a sideways market.

 œGold has weathered the storm from the strong U.S. dollar and held above the 200-day moving average, said Adam Button, managing director of ForexLive. œThat's a positive sign for this week.

Added Jim Wyckoff, senior technical analyst with Kitco: œThe $1,300 level has held to suggest a near-term market bottom is in place.

Mark Leibovit, editor of the VR Gold Letter, looks for more of a rally in gold due to a likely pullback in the U.S. dollar. However, he added, the œdollar pullback may only be temporary, in my view.

Phil Flynn, senior market analyst with at Price Futures Group, is also bullish on gold, commenting that the metal appears to have established a technical bottom after a œrough week, with recent pressure prompted by U.S. dollar strength.

œIt looks like we™ve turned the corner, perhaps because of geopolitical risks and inflation data that not as hot as people thought, Flynn said. œIt allows gold to go up because they [traders] as not as fearful of the Fed raising interest rates.

Sean Lusk, director of commercial hedging with Walsh Trading, also cited gold™s ability to avoid follow-through selling as the metal recently approached the $1,300 level.

Meanwhile, Ralph Preston, principal with Heritage West Financial, is among those who look for gold to pull back again. œWe got a little pop higher, he said, but after the bounce from the recent lows, he now looks for the metal to run into chart resistance around the $1,344 area.

Robin Bhar, metals analyst at Societe Generale, sees gold trading mostly sideways. œFor the moment, geopolitical tensions are being offset by the dollar, Bhar commented.

Source: Kitco News

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POPULAR NEWS
Gold Prices Pare Losses, But Still End at a 1-Year Low

Gold futures gave up much of their declines Thursday, but still finished at their lowest in about a year. President Donald Trump voiced his disagreement with the Federal Reserve's plan for gradual increases in interest rates, prompting a decline in the benchmark dollar index which, in turn, helped to lift gold off the lows of the session. August gold settled at $1,224 an ounce, down $3.90, or 0.3%, for the session. The settlement marked gold's entry into correction territory - down more than...

Dollar on defensive against yen, euro after Trump comments

The dollar was on the defensive against the yen and euro early Friday after U.S. President Donald Trump expressed concern about the currency's strength and the Federal Reserve's interest rate increases. Trump said in an interview with CNBC on Thursday that a strong dollar puts the United States at a disadvantage, adding that the Chinese yuan œwas dropping like a rock. A strong currency tends to make a country™s exports more expensive. Trump also showed displeasure about the Fed™s...

Gold Heads for Weekly Decline as Rate Outlook in Focus

Gold drops to trade near lowest in a year as investors weigh Federal Reserve Chairman Jerome Powell's comments on interest rate outlook, as well as President Donald Trump's intervention that he's 'not thrilled' at Fed's tightening trajectory. Bullion for immediate delivery slipped 0.5% at $1,216.78/oz at 9:47am in Singapore, after hitting $1,211.63 on Thursday, lowest since July 2017: Bloomberg generic pricing. That metal lost 2.2% this week to head for fifth weekly...

Gold tumbles, poised for lowest close in more than year as dollar, rates rise

Gold prices early Thursday extended a downdraft that has pushed the metal toward its lowest close in more than a year, in an atmosphere of rising benchmark rates for U.S. government debt and the continuation of a U.S. dollar rally. August gold traded $12, or 1%, lower at $1,215.90 an ounce early Thursday. Other metals also showed signs of faltering, September silver tumbled by 32 cents, or 2.1%, to $15.260 an ounce, on track for its lowest close since early 2016. Source: Marketwatch

Gold at Lowest in a Year as Dollar Emboldens Bears

Gold trades at lowest in a year as Federal Reserve Chairman Jerome Powell™s comments on U.S. employment and inflation help to sustain expectations for another interest-rate increase in September. Bullion for immediate delivery -0.8% to $1,217.37/oz at 10:58 am in London Bloomberg Dollar Spot Index +0.4% after +0.5% past 2 days In other precious metals: Silver -1.7% to $15.2994/oz, also at lowest level this July last year. Platinum -1.6% to $805.49/oz;...

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