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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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Wall St., Main St. See Gold Price Rising During FOMC Week
Monday, 11 June 2018 11:11 WIB | GOLD CORNER |Gold OutlookGold Corner

Wall Street and Main Street alike look for gold prices to rise this week even though the Federal Open Market Committee is widely expected to hike U.S. interest rates again, based on the Kitco News weekly survey.

But then, some observers pointed out: traders have already factored higher U.S. rates into markets.

Investors have many major news events to monitor this week, with perhaps the most important being the Fed meeting, with policymakers expected to hike interest rates another 25 basis points. Other events include a U.S.-North Korea summit and meeting of the European Central Bank.

Seventeen market professionals took part in the survey. There were 10 votes, or 59%, calling for gold prices to rise. There were four votes or 24%, calling for gold to fall, while three voters, or 18%, look for a sideways market.

Meanwhile, 830 voters responded in an online Main Street survey. A total of 505 respondents, or 61%, predicted that gold prices would be higher in a week. Another 223 voters, or 27%, said gold will fall, while 102, or 12%, see a sideways market.

Charlie Nedoss, senior market strategist with LaSalle Futures Group, looks for a down-and-up week, with the precious metal ultimately finishing higher than where it leaves off last week. He looks for the usual œknee-jerk market reactions around the Fed meeting but adds that policymakers typically have telegraphed their intentions ahead of time. Any price break lower may end up as a buying opportunity, he added.

œWe™re at a key point, Nedoss said. œWe™re sitting right on the 10-day and 20-day moving averages¦.I look for weakness into the Fed, but after the Fed, I™m looking for support.

George Gero, managing director with RBC Wealth Management, figures gold may rally since a Fed rate hike is already factored into prices, thus the dollar may weaken.

œThe rate hike is priced in. Most of the negatives are priced in, Gero said. œIt™s all about the U.S. dollar.

Jim Wyckoff, senior technical analyst with Kitco, who sees steady to higher prices, commented that a œprice downtrend on the daily chart has been negated this week.

Meanwhile, Ralph Preston, principal with Heritage West Financial, looks for gold to fall due to a muscular U.S. currency.

œGold™s recent price action is like watching paint dry “ boring, Preston said. œAs mentioned before, we may see a pop higher on a geopolitical event. However, I do not see prices holding onto any significant gains in the face of a strengthening U.S. dollar.

Colin Cieszynski, chief market strategist at SIA Wealth Management, is also bearish on gold prices for this week.

œThe U.S. dollar continues to climb heading into the Fed meeting later this month where the FOMC is expected to raise interest rates again, he said. œMeanwhile, it looks like [U.S. President Donald] Trump™s summit with [North Korean leader] Kim Jong Un is on, which could ease political tensions in Asia. The addition of a headwind from the dollar and the removal of a tailwind from political risk could keep gold on the back foot in the coming days.

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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