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POPULAR NEWS
Gold Extends Run Above $1,200; Palladium Gains

Gold futures gained Wednesday, leaving the contract on track to finish above the closely watched $1,200 line for a seventh straight session. December gold was up $4.50, or 0.4%, at $1,207.40 an ounce, as the dollar index flitted between small gains and losses. The dollar and gold, which is chiefly priced in the U.S. currency, tend to move inversely. The dollar index is down 0.5% month to date, trimming its 2018 gain so far to about 2.8%. Gold held its gain and the dollar index remained stuck...

Gold futures mark highest settlement this month to date

Gold saw prices edge higher, building on a rise for the week on the heels of a decline in the benchmark dollar index, which has already shed nearly 2% over the past month. Gold prices edged up, with the Dec. gold settled at $1,211.30/oz, up $3, or nearly 0.3% as the dollar index dropped 0.5%. The dollar and gold, which is chiefly priced in the U.S. currency, tend to move inversely. Fed policy makers will meet for a two-day meeting ending Sept. 26. The market is pricing in over a 90% chance...

U.S. Stocks Open With Modest Gains; Dow Sees Triple-Digit Rise

U.S. stocks opened flat to slightly higher Wednesday, a day after a rally that left major indexes near all-time highs as investors looked past rising U.S.-China trade tensions to remain focused on strong economic fundamentals. The S&P 500 rose 0.2% to 2,910.61, while the Dow Jones Industrial Average gained around 104 points to trade near 26,350, a gain of 0.4%. The Nasdaq Composite was up 0.2% at 7,970.27. Source : Market Watch

U.S. oil prices rally to highest finish since July

Oil prices finished sharply higher Wednesday after a U.S. government report revealed a weekly fall in crude supplies, the fifth weekly decline in a row. Expectations for further declines in exports from Iran, ahead of the implementation of U.S. oil sanctions on the country in November, also contributed to the price climb. October West Texas Intermediate oil rose $1.27, or 1.8%, to settle at $71.12 a barrel on the New York Mercantile Exchange. That was the highest for a front-month contract...

Dow, S&P 500 Gain; Financial Stocks a Boost

The S&P 500 and the Dow Jones Industrial Average rose on Wednesday, with the Dow hitting its highest closing level since late January, as rising Treasury yields boosted financial stocks and trade worries subsided. Based on the latest available data, the Dow Jones Industrial Average rose 159.41 points, or 0.61 percent, to 26,406.37, the S&P 500 gained 3.62 points, or 0.12 percent, to 2,907.93 and the Nasdaq Composite dropped 6.07 points, or 0.08 percent, to 7,950.04. Source : Reuters

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Gold's Beating May Be Nearing an End - Bloomberg Intelligence
Tuesday, 14 August 2018 04:44 WIB | GOLD CORNER |Gold OutlookGold Corner

It has been an awful summer for gold.

And just when things could not get any worse for the yellow metal, prices dipped below $1,200 an ounce in early trading Monday morning -- a nearly 1.5-year low.

So does this mark the final leg down and the end of the pain for many gold investors?

œSomeday, at some point, it will happen, said Mike McGlone, commodity strategist for Bloomberg Intelligence in an interview on Friday. œHave we reached the point of maximum loss of faith? We may be pretty close, McGlone added.

Gold prices are down and hit a nearly 1.5-year low as they fell below key chart support at $1,200.00. Silver futures prices dropped to a more-than-two-year low overnight. A surging U.S. dollar index is trumping currency market turmoil to drive the precious metals markets lower.

"If the history of compressed gold prices is a guide, the dollar should be peaking, with the potential for higher gold prices far outweighing downside risks. It's been about two decades since gold sustained a narrower 24-month range, McGlone said.

And while a stronger dollar and U.S. economic growth are hurting bullion's appeal, concerns that Turkey's financial crisis could spread may give the metal a reversal of fate. "Gold's short-cover risks are elevated. The setup, with prices near key support and near-record-short net positions, is a recipe for a sharp rally and potential longer-term bottom," McGlone said.

Technically, gold bears have the solid overall near-term technical advantage amid a price downtrend on the daily bar chart. Gold bulls' next upside near-term price breakout objective is to produce a close in December futures above solid resistance at $1,230.00. Bears' next near-term downside price breakout objective is pushing prices below solid technical support at $1,150.00.

Source: Kitco

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POPULAR NEWS
Gold Extends Run Above $1,200; Palladium Gains

Gold futures gained Wednesday, leaving the contract on track to finish above the closely watched $1,200 line for a seventh straight session. December gold was up $4.50, or 0.4%, at $1,207.40 an ounce, as the dollar index flitted between small gains and losses. The dollar and gold, which is chiefly priced in the U.S. currency, tend to move inversely. The dollar index is down 0.5% month to date, trimming its 2018 gain so far to about 2.8%. Gold held its gain and the dollar index remained stuck...

Gold futures mark highest settlement this month to date

Gold saw prices edge higher, building on a rise for the week on the heels of a decline in the benchmark dollar index, which has already shed nearly 2% over the past month. Gold prices edged up, with the Dec. gold settled at $1,211.30/oz, up $3, or nearly 0.3% as the dollar index dropped 0.5%. The dollar and gold, which is chiefly priced in the U.S. currency, tend to move inversely. Fed policy makers will meet for a two-day meeting ending Sept. 26. The market is pricing in over a 90% chance...

U.S. Stocks Open With Modest Gains; Dow Sees Triple-Digit Rise

U.S. stocks opened flat to slightly higher Wednesday, a day after a rally that left major indexes near all-time highs as investors looked past rising U.S.-China trade tensions to remain focused on strong economic fundamentals. The S&P 500 rose 0.2% to 2,910.61, while the Dow Jones Industrial Average gained around 104 points to trade near 26,350, a gain of 0.4%. The Nasdaq Composite was up 0.2% at 7,970.27. Source : Market Watch

U.S. oil prices rally to highest finish since July

Oil prices finished sharply higher Wednesday after a U.S. government report revealed a weekly fall in crude supplies, the fifth weekly decline in a row. Expectations for further declines in exports from Iran, ahead of the implementation of U.S. oil sanctions on the country in November, also contributed to the price climb. October West Texas Intermediate oil rose $1.27, or 1.8%, to settle at $71.12 a barrel on the New York Mercantile Exchange. That was the highest for a front-month contract...

Dow, S&P 500 Gain; Financial Stocks a Boost

The S&P 500 and the Dow Jones Industrial Average rose on Wednesday, with the Dow hitting its highest closing level since late January, as rising Treasury yields boosted financial stocks and trade worries subsided. Based on the latest available data, the Dow Jones Industrial Average rose 159.41 points, or 0.61 percent, to 26,406.37, the S&P 500 gained 3.62 points, or 0.12 percent, to 2,907.93 and the Nasdaq Composite dropped 6.07 points, or 0.08 percent, to 7,950.04. Source : Reuters

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