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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...

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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 To Do Better In June As Dollar Rally Stalls - INTL FCStone
Tuesday, 5 June 2018 05:12 WIB | GOLD CORNER |Gold OutlookGold Corner

Gold will have a better month in June following a drop below the key psychological level of $1,300 an ounce in May, said INTL FCStone, adding that the U.S. dollar rally will run out of steam.

The yellow metal prices are likely to trade between $1,280-$1,335 an ounce in June, wrote INTL FCStone analyst Edward Meir in a report published on Sunday.

One of the central triggers to give gold a reprieve is a stalling U.S. dollar, led by the sentiment that the Federal Reserve™s June rate hike has already been priced in by the markets.

œOnce [the rate hike] is out of the way, the market will be focusing on the next and potentially last move before the Fed stops for a while. We also think that the rate picture may have run its course as well, at least for now, Meir said.

Trade war rhetoric will also play a central role in driving gold prices in June, the report pointed out.

œA steadily deteriorating trade situation is arguably bearish for the dollar (and bullish for gold), but should the situation improve, we could see the dollar rally and pressure gold in the process, Meir said.

On top of that, there are a number of geopolitical risks to keep in mind as the summer gets going, including Italy, Spain and North Korea, the analyst added.

œItaly and Spain, the region™s most heavily indebted countries (after Greece), continue to struggle politically, although the worse seems to be over, he said. œThe other major event will fall on June 12th, which is when President Trump is supposed to meet with the North Korean leader. Any semblance of a rapprochement will be net bearish for gold, albeit temporarily, since political events tend to have a short-term impact on prices.

Gold prices surprised the market in May by hitting a fresh 2018 low of $1,280 an ounce, pressured down by strong U.S. dollar and rising U.S. yields.

Source: Kitco News

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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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