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POPULAR NEWS
Gold Settles Higher After Recent Downdraft, With Inflation Data, Dollar Action in Focus

Gold prices settled higher on Wednesday, marking a modest reversal in selling action that had driven the metal down for seven sessions in the past eight. December gold settled at $1,210.10 an ounce, up $8.70, or 0.7%. Tuesday™s finish at $1,201.40 was the lowest for a most-active contract since Oct. 10, according to FactSet data. December silver tacked on 10.3 cents, or 0.7%, to $14.08 an ounce. Its settlement Tuesday at $13.977 was the lowest for a most-active contract since January...

Gold Steady Before U.S. Inflation Data, Powell Speech

Gold held gains as investors awaited Wednesday™s U.S. inflationreport and a speech by Federal Reserve Chair Jerome Powell that may calm some concerns about the central bank pushing its interest rate-hike cycle too far. U.S. consumer inflation probably rebounded in October after easing in September. Meanwhile, Powell will discuss national and global economic issues in a moderated conversation with Dallas Fed President Robert Kaplan. Bullion for immediate...

Gold Holds Gain After Powell Says U.S. Faces Headwinds

Gold held two days of gains after Federal Reserve Chairman Jerome Powell said the U.S. economy is strong but could face headwinds next year as policy makers weigh how far and fast to raise interest rates. Prices were also supported overnight as the dollar and the British pound weakened amid a prolonged U.K. Cabinet meeting on the Brexit deal and a report that Prime Minister Theresa May could face calls for a no-confidence vote. Bullion for immediate delivery little...

Gold Near Steady Following Tame CPI Data

Gold prices are near unchanged and hovering just above $1,200.00 in early U.S. trading Wednesday. The silver market is slightly down and dipped to a nearly three-year low overnight. Both metals showed minimal price reactions to just-released U.S. inflation data. December gold futures were last up $0.70 an ounce at $1,202.10. December Comex silver was last down $0.017 at $13.96 an ounce. The U.S. economic highlight of the day was the release of the Consumer Price Index for October, which came...

Gold prices end higher, shaking off pressure from a stronger dollar

Gold prices, meanwhile, ended higher, shaking off pressure from a stronger dollar to hold on to a week-to-date gain as U.S. and European equities declined. On Thursday, December gold added $4.90, or 0.4%, to settle at $1,215 an ounce, now up over $13 since Tuesday™s finish at $1,201.40 marked the lowest for a most-active contract in over a month, according to FactSet data. December silver tacked on 18.3 cents, or 1.3%, to $14.263 an ounce, while December copper  rose nearly 1.4% to...

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BAML Continues To See $1,400 Gold By Year End Despite A Stronger U.S. Dollar
Tuesday, 3 July 2018 04:10 WIB | GOLD CORNER |Gold OutlookGold Corner

The second largest bank in America sees further upside potential in the U.S. dollar, but it is also not changing its forecast for gold or silver.

In a report Monday, analysts at Bank of America Merrill Lynch (BAML), reiterated their forecast for gold prices to average the fourth quarter around $1,400 an ounce. At the same time, the bank sees silver prices averaging $17.50 in the final three months of 2018.

The bank said in its report that growing geopolitical tensions, escalating global trade wars and rising inflation pressures will remains supportive of the precious metals.

œWe note that the business cycle is maturing and the ongoing uncertainty around trade is not helping at this junction, the analysts said in their report. œAt the same time, inflation has been picking up (shorting Treasuries is one of the most crowded trades), a combination which may ultimately bring gold buyers back into the market.

The bank™s forecasts come as gold prices pushed to a new 12-months low at the start of a shortened trading week. Silver fell to a fresh seven-month low. August gold futures settled Monday at $1,241.70 an ounce, down 1% on the day; meanwhile, September silver futures settled the session at $15.835 an ounce, down nearly 2% on the day.

The analysts said that the U.S. dollar remains the most significant risk for the precious metals market. The U.S. dollar index is trading near a one-year high, at 95.05 points.

Looking ahead, the analysts said that they see further room for the U.S. dollar to rise against the euro, which has the biggest weighting in the dollar index. BAML sees higher U.S. interest rates driving the U.S. dollar higher through the rest of the year.

œThe DXY remains about 8-9% cheap relative to medium-term fair value, the analysts said. œFiscal stimulus is driving US growth higher relative to the rest of the world, where growth is sputtering. The market is still priced well below the Fed's projected rate path through 2020, which provides potential for the USD to strengthen on US-specific factors.

While global trade issues remains a threat, the analysts said that the U.S. economy is in good shape to weather the storm.

Source: Kitco

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POPULAR NEWS
Gold Settles Higher After Recent Downdraft, With Inflation Data, Dollar Action in Focus

Gold prices settled higher on Wednesday, marking a modest reversal in selling action that had driven the metal down for seven sessions in the past eight. December gold settled at $1,210.10 an ounce, up $8.70, or 0.7%. Tuesday™s finish at $1,201.40 was the lowest for a most-active contract since Oct. 10, according to FactSet data. December silver tacked on 10.3 cents, or 0.7%, to $14.08 an ounce. Its settlement Tuesday at $13.977 was the lowest for a most-active contract since January...

Gold Steady Before U.S. Inflation Data, Powell Speech

Gold held gains as investors awaited Wednesday™s U.S. inflationreport and a speech by Federal Reserve Chair Jerome Powell that may calm some concerns about the central bank pushing its interest rate-hike cycle too far. U.S. consumer inflation probably rebounded in October after easing in September. Meanwhile, Powell will discuss national and global economic issues in a moderated conversation with Dallas Fed President Robert Kaplan. Bullion for immediate...

Gold Holds Gain After Powell Says U.S. Faces Headwinds

Gold held two days of gains after Federal Reserve Chairman Jerome Powell said the U.S. economy is strong but could face headwinds next year as policy makers weigh how far and fast to raise interest rates. Prices were also supported overnight as the dollar and the British pound weakened amid a prolonged U.K. Cabinet meeting on the Brexit deal and a report that Prime Minister Theresa May could face calls for a no-confidence vote. Bullion for immediate delivery little...

Gold Near Steady Following Tame CPI Data

Gold prices are near unchanged and hovering just above $1,200.00 in early U.S. trading Wednesday. The silver market is slightly down and dipped to a nearly three-year low overnight. Both metals showed minimal price reactions to just-released U.S. inflation data. December gold futures were last up $0.70 an ounce at $1,202.10. December Comex silver was last down $0.017 at $13.96 an ounce. The U.S. economic highlight of the day was the release of the Consumer Price Index for October, which came...

Gold prices end higher, shaking off pressure from a stronger dollar

Gold prices, meanwhile, ended higher, shaking off pressure from a stronger dollar to hold on to a week-to-date gain as U.S. and European equities declined. On Thursday, December gold added $4.90, or 0.4%, to settle at $1,215 an ounce, now up over $13 since Tuesday™s finish at $1,201.40 marked the lowest for a most-active contract in over a month, according to FactSet data. December silver tacked on 18.3 cents, or 1.3%, to $14.263 an ounce, while December copper  rose nearly 1.4% to...

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