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POPULAR NEWS
Gold Declines After U.S. Pauses Trade War, Dollar Rises

Gold drops after Treasury Secretary Steven Mnuchin says U.S. is putting trade war with China on hold, boosting risk-on sentiment in markets. Treasury yields edge higher, dollar strengthens. Bullion for immediate delivery -0.4% to $1,288.06/oz at 12:10pm in Singapore. Metal -2% last week, biggest weekly drop since December. Silver -0.4% to $16.3820/oz. Bloomberg Dollar Spot Index +0.2%, highest level this year.  Yield on 10-year Treasuries +1 bp to...

Trump Says He'll Order DOJ Probe of Alleged Campaign Surveillance

President Donald Trump says he will order an investigation Monday into claims an FBI informant infiltrated his 2016 election campaign “ setting up a potential showdown with the Justice Department. œI hereby demand, and will do so officially tomorrow, that the Department of Justice look into whether or not the FBI/DOJ infiltrated or surveilled the Trump Campaign for Political Purposes - and if any such demands or requests were made by people within the Obama Administration!, Trump...

Gold Drops After U.S. Pauses Trade War, Dollar Rises

Gold declines after Treasury Secretary Steven Mnuchin said the U.S. was putting the trade war with China on hold, boosting risk-on sentiment in markets. Treasury yields edge higher, dollar strengthens. Bullion for immediate delivery -0.3% to $1,289.77/oz at 8:27am in Singapore. Metal -2% last week, biggest weekly drop since December. Bloomberg Dollar Spot Index +0.1%, near highest level since this year. Yield on 10-year Treasuries +2 bps to 3.08%. œThis...

Tokyo stocks open higher as yen eases

Tokyo stocks opened higher on Monday supported by a cheaper yen as worries over a trade war between the US and China eased. The benchmark Nikkei 225 index gained 0.12 percent, or 28.37 points, to 22,958.73 in early trade, while the broader Topix index was up 0.01 percent or 0.23 points, at 1,815.48. The dollar was quoted at 111.00 yen in early Asian trade, up from 110.68 yen in New York late Friday. The dollar firmed slightly after the finance ministry said Japan's overall trade surplus...

Hong Kong stocks open with gains after trade war between the US and China eased

Hong Kong stocks started Monday on a positive note after the US and China said they had called off threatened tariffs and backed off from a trade war. The Hang Seng Index rose 0.60 percent, or 184.88 points, to 31,232.79. And the benchmark Shanghai Composite Index added 0.40 percent, or 12.88 points, to 3,206.18, while the Shenzhen Composite Index, which tracks stocks on China's second exchange, climbed 0.54 percent, or 9.94 points, to 1,838.73. Source : AFP

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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 Declines After U.S. Pauses Trade War, Dollar Rises

Gold drops after Treasury Secretary Steven Mnuchin says U.S. is putting trade war with China on hold, boosting risk-on sentiment in markets. Treasury yields edge higher, dollar strengthens. Bullion for immediate delivery -0.4% to $1,288.06/oz at 12:10pm in Singapore. Metal -2% last week, biggest weekly drop since December. Silver -0.4% to $16.3820/oz. Bloomberg Dollar Spot Index +0.2%, highest level this year.  Yield on 10-year Treasuries +1 bp to...

Trump Says He'll Order DOJ Probe of Alleged Campaign Surveillance

President Donald Trump says he will order an investigation Monday into claims an FBI informant infiltrated his 2016 election campaign “ setting up a potential showdown with the Justice Department. œI hereby demand, and will do so officially tomorrow, that the Department of Justice look into whether or not the FBI/DOJ infiltrated or surveilled the Trump Campaign for Political Purposes - and if any such demands or requests were made by people within the Obama Administration!, Trump...

Gold Drops After U.S. Pauses Trade War, Dollar Rises

Gold declines after Treasury Secretary Steven Mnuchin said the U.S. was putting the trade war with China on hold, boosting risk-on sentiment in markets. Treasury yields edge higher, dollar strengthens. Bullion for immediate delivery -0.3% to $1,289.77/oz at 8:27am in Singapore. Metal -2% last week, biggest weekly drop since December. Bloomberg Dollar Spot Index +0.1%, near highest level since this year. Yield on 10-year Treasuries +2 bps to 3.08%. œThis...

Tokyo stocks open higher as yen eases

Tokyo stocks opened higher on Monday supported by a cheaper yen as worries over a trade war between the US and China eased. The benchmark Nikkei 225 index gained 0.12 percent, or 28.37 points, to 22,958.73 in early trade, while the broader Topix index was up 0.01 percent or 0.23 points, at 1,815.48. The dollar was quoted at 111.00 yen in early Asian trade, up from 110.68 yen in New York late Friday. The dollar firmed slightly after the finance ministry said Japan's overall trade surplus...

Hong Kong stocks open with gains after trade war between the US and China eased

Hong Kong stocks started Monday on a positive note after the US and China said they had called off threatened tariffs and backed off from a trade war. The Hang Seng Index rose 0.60 percent, or 184.88 points, to 31,232.79. And the benchmark Shanghai Composite Index added 0.40 percent, or 12.88 points, to 3,206.18, while the Shenzhen Composite Index, which tracks stocks on China's second exchange, climbed 0.54 percent, or 9.94 points, to 1,838.73. Source : AFP

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