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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...

U.S. Oil Futures Settle Lower as Trump Pressures OPEC to Lower Prices

Oil prices fell on Thursday after U.S. President Donald Trump, in a tweet, called on the Organization of the Petroleum Exporting Countries to lower crude prices. "The U.S. is keen to avoid the fallout from Iran sanctions," said Fiona Cincotta, senior market analyst at City Index. U.S. representatives have in separate negotiations asked the two of the largest producers, Saudi Arabia and Russia, "to keep production levels up in order to avoid a spike in prices," she said. October West Texas...

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Wall St. Still Upbeat On Gold; Main St. Flips To Bullish
Monday, 27 August 2018 21:18 WIB | GOLD CORNER |Gold OutlookGold Corner

Wall Street and Main Street both look for higher gold prices this week, based on the weekly Kitco News gold survey.

This marks a sharp turnabout for Main Street, after 74% of these respondents last week called for gold to fall during the last week. This was the most Main Street bearishness in the survey™s three-year history.

This time around, 326 out of 718 Main Street respondents, or 45%, called for gold to rise. A total of 277, or 39%, predicted gold would fall. The remaining 115, or 16%, see a sideways market.

Seventeen market professionals took part in the Wall Street survey. Nine respondents, or 53%, called for higher prices, while just two, or 12%, said lower. Six respondents, or 35%, predicted a sideways market.

Adrian Day, chairman and chief executive officer of Adrian Day Asset Management, said that he is œcautiously bullish on the metal™s short-term prospects.

œGold is oversold, but may not bounce back immediately, Day said. œConcerns about the global economy because of the tariff battles, and especially the emerging markets because of Turkey™s currency crisis, are hurting demand for gold. Some respite on either front as well as a pullback in the dollar would help gold.

Ralph Preston, principal with Heritage West Financial, looks for a continued technical bounce off of chart support.

Richard Baker, editor of the Eureka Miner Report, is also upbeat, suggesting that gold may follow the Chinese yuan.

œThe People's Bank of China stabilized the yuan before last week's trade talks, Baker said. œLast Friday morning the offshore yuan (USD/CNH) has slipped below onshore currency (USD/CNY) -- a sign traders are betting on short-term strengthening.

œThis is bullish for gold; as the Chinese currency strengthens, so does [the] gold price in U.S. dollars. There are also signs that Asian demand for gold is on the rise.

Meanwhile, Daniel Pavilonis, senior commodities broker with RJO Futures, looks for gold to ease due to its normal inverse relationship to the U.S. dollar.

œThe dollar is going to continue to get stronger, Pavilonis said. œMoney wants to be in the dollar. If we [the U.S.] keep raising rates, the dollar will go higher.

Afshin Nabavi, head of trading at trading house MKS (Switzerland) SA, sees a sideways market between $1,180 and $1,210 an ounce. œSummer doldrums are here for the time being, he said.

Source: Kitco News

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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...

U.S. Oil Futures Settle Lower as Trump Pressures OPEC to Lower Prices

Oil prices fell on Thursday after U.S. President Donald Trump, in a tweet, called on the Organization of the Petroleum Exporting Countries to lower crude prices. "The U.S. is keen to avoid the fallout from Iran sanctions," said Fiona Cincotta, senior market analyst at City Index. U.S. representatives have in separate negotiations asked the two of the largest producers, Saudi Arabia and Russia, "to keep production levels up in order to avoid a spike in prices," she said. October West Texas...

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