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POPULAR NEWS
Gold Rises as Brexit Turmoil Eclipses Jump in Equities

Gold futures rose for the third time in four sessions as the U.K.™s fallout over Brexit eclipsed a global stock market rally. The metal is heading for a fifth week of gains as the U.K. parliament is mired in turmoil surrounding the terms of leaving the European Union. Haven demand helped boost holdings in exchange-traded funds backed by bullion to a 13th straight gain and the highest since May. In the cash market, platinum, trading near a decade low, is near...

Gold Pulls Back From 2-Week High as $1,300 Mark Proves Elusive

Gold futures pulled back on Thursday from the nearly two-week high they settled at a day earlier, as the psychologically important $1,300 line remained elusive for another session. Gold for February delivery edged down by $1.50, or 0.1%, to settle at $1,292.30 an ounce. It settled Wednesday at an almost two-week high of $1,293.80, on the back of political turmoil in the U.K. and U.S. March silver also fell 10.2 cents, or 0.7%, to $15.536 an ounce on Thursday. Source : Marketwatch

Gold pauses as investors wave off geopolitical worries, snap up stocks

Gold futures struggled for direction Wednesday as investors waved off turmoil surrounding the U.K.'s plan to leave the European Union and continued to pile into equities, depriving the yellow metal of haven-related demand. Gold for February delivery was up $2, or 0.2%, at $1,290.40 an ounce, while March silver was off 4 cents, or 0.3%, to $15.58 an ounce. In other metals trading, April platinum rose 0.1% to $800.70 an ounce, while March palladium was up 1.2% to $1,292 an ounce. March copper...

Gold Drifts as Stocks Rise, Brexit Turmoil Continues

Gold lacked a clear direction, holding the tight range that it™s been stuck in so far this year, as investors weighed the U.K.'s fallout over Brexit against global stock market gains. Spot gold unchanged at $1,289.51/oz while Bloomberg Dollar Spot Index edged 0.1% up. Bullion rallied in the final month of 2018 on stock market turmoil and speculation the Federal Reserve would pause in raising rates, but has struggled to sustain momentum in January. The metal hasn™t breached...

USD/JPY opens Tokyo on 109 handle, but faltering at key resistance

USD/JPY has been better bid on the back of renewed optimism surrounding Brexit and global stocks. China announcing stimulus endeavours and with the market backing the notion that the UK will find a resolution to the deadlock in a hung parliament surrounding the Brexit plan has helped risk sentiment rally, supporting the upside in the pair. As far as the no-confidence vote went,  the victory of the vote following yesterday's humiliating defeat where PM May lost the 'meaningful vote' on...

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Price Bounce Expected To Continue
Tuesday, 29 May 2018 05:14 WIB | GOLD CORNER |Gold OutlookGold Corner

Wall Street and Main Street both look for gold to continue a price recovery this week, based on the Kitco News weekly gold survey.

Gold recouped the $1,300-an-ounce level during the latter part of last week after hitting its weakest price of 2018 on Monday. Catalysts behind the comeback included a technical bounce, Federal Open Market Committee minutes that did not show any signs that policymakers want to tighten any more than they have already signaled, and cancellation of a summit between the leaders of the U.S. and North Korea.

Eighteen market professionals took part in the survey. There were 11 votes, or 61%, calling for gold prices to rise. Another four voters, or 22%, were looking for gold prices to ease, while three voters, or 17%, see prices unchanged or sideways.

Meanwhile, 730 voters responded in an online Main Street survey. A total of 393 respondents, or 54%, predicted that gold prices would be higher in a week. Another 243 voters, or 33%, said gold will fall, while 94, or 13%, see a sideways market.

 œGold rebounded¦after the Fed minutes seemed to suggest that they were willing to let inflation run hot, said Phil Flynn, senior market analyst with Price Futures Group. œEven though the strong dollar weighed on the market last week, strong physical demand and increasing geopolitical risk should allow us to have a bullish week.

Adrian Day, chairman and chief executive officer of Adrian Day Asset Management, also looks for gold to rise.

œThe factors that have weakened gold in recent weeks and months”easing of international tensions, particularly over Korea; higher interest rates; and a strong stock market”are all in the process of unraveling, Day said. œHigher rates and a June hike [are] already priced into the gold market, but if the Federal Reserve goes slower after that, it will be positive for gold.

Sean Lusk, director of commercial hedging with Walsh Trading, figures gold could challenge $1,330 again in the weeks ahead.

œThere is some uncertainty in the air with a little uneasiness in the stock market, Lusk said. œWe hit bargain hunting under $1,300.

Added Adam Button, managing director of ForexLive: œThe geopolitical sands are shifting and hopes for a more peaceful world have been dashed by moves on Iran and North Korea. That uncertainty will lend a bid to gold.

Meanwhile, David Madden, market analyst at CMC Markets, is among those who are bearish on gold in the near term. He added that gold has been in a two-month downtrend and this move appears to be a so-called dead-cat bounce. Madden said that he would need to see prices above $1,326 to call an end to the current downtrend.

Neil Mellor, currency strategist at New York Bank of Mellon, said he is bearish on gold, commenting that he would need to see a rise in wage inflation in next week™s U.S. employment numbers to see a case for higher prices. Further, he noted there is no inflation in the global marketplace.

Ralph Preston, principal with Heritage West Financial, also looks for gold to ease.

œWe might see a pop higher on a geopolitical event, but it will be difficult for gold to sustain a rally if the U.S. dollar begins to rally on safe-haven flows, Preston said.

Ken Morrison, editor of the newsletter Morrison on the Markets, does not look for a big move either way in the next week.

œGold shook off the dollar strength and managed to rally near the downtrend line of resistance at $1,310, Morrison said. œI expect the market spends most of the next week consolidating in a $1,295-$1,310 range, basically a sideways pattern.

Source: Kitco News

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POPULAR NEWS
Gold Rises as Brexit Turmoil Eclipses Jump in Equities

Gold futures rose for the third time in four sessions as the U.K.™s fallout over Brexit eclipsed a global stock market rally. The metal is heading for a fifth week of gains as the U.K. parliament is mired in turmoil surrounding the terms of leaving the European Union. Haven demand helped boost holdings in exchange-traded funds backed by bullion to a 13th straight gain and the highest since May. In the cash market, platinum, trading near a decade low, is near...

Gold Pulls Back From 2-Week High as $1,300 Mark Proves Elusive

Gold futures pulled back on Thursday from the nearly two-week high they settled at a day earlier, as the psychologically important $1,300 line remained elusive for another session. Gold for February delivery edged down by $1.50, or 0.1%, to settle at $1,292.30 an ounce. It settled Wednesday at an almost two-week high of $1,293.80, on the back of political turmoil in the U.K. and U.S. March silver also fell 10.2 cents, or 0.7%, to $15.536 an ounce on Thursday. Source : Marketwatch

Gold pauses as investors wave off geopolitical worries, snap up stocks

Gold futures struggled for direction Wednesday as investors waved off turmoil surrounding the U.K.'s plan to leave the European Union and continued to pile into equities, depriving the yellow metal of haven-related demand. Gold for February delivery was up $2, or 0.2%, at $1,290.40 an ounce, while March silver was off 4 cents, or 0.3%, to $15.58 an ounce. In other metals trading, April platinum rose 0.1% to $800.70 an ounce, while March palladium was up 1.2% to $1,292 an ounce. March copper...

Gold Drifts as Stocks Rise, Brexit Turmoil Continues

Gold lacked a clear direction, holding the tight range that it™s been stuck in so far this year, as investors weighed the U.K.'s fallout over Brexit against global stock market gains. Spot gold unchanged at $1,289.51/oz while Bloomberg Dollar Spot Index edged 0.1% up. Bullion rallied in the final month of 2018 on stock market turmoil and speculation the Federal Reserve would pause in raising rates, but has struggled to sustain momentum in January. The metal hasn™t breached...

USD/JPY opens Tokyo on 109 handle, but faltering at key resistance

USD/JPY has been better bid on the back of renewed optimism surrounding Brexit and global stocks. China announcing stimulus endeavours and with the market backing the notion that the UK will find a resolution to the deadlock in a hung parliament surrounding the Brexit plan has helped risk sentiment rally, supporting the upside in the pair. As far as the no-confidence vote went,  the victory of the vote following yesterday's humiliating defeat where PM May lost the 'meaningful vote' on...

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