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POPULAR NEWS
Gold Retreats After 2-Session Climb as Palladium Futures Look to Settle Above Gold

Gold futures headed lower Tuesday, pulling back after a two-session climb as U.S. benchmark equity indexes rose and the dollar strengthened. Palladium, meanwhile, looked to extend their streak of gains to an 11th consecutive session, setting futures prices up to settle above that of gold for the first time in over 16 years. February gold shed $2.90, or 0.2%, to settle at $1,288.40 an ounce. Futures prices, which touched an intraday high of $1,296.60 on Monday, haven™t been able to settle...

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 Sees Little Reaction After Economic Data

Gold prices are seeing little reaction but remain under pressure as inflation pressures remain elusive in the U.S. economy. Gold prices were under modest selling pressure ahead of the report and remain relatively unchanged in initial reaction. The market continues to stubbornly hold just below $1,300 an ounce. February gold futures last traded at $1,289.80 an ounce, down 0.12% on the day. Tuesday, the U.S. Labor Department said its Producer Price Index (PPI) fell 0.2% in December following a...

Gold Prices Rise as Failed Brexit Vote Drags on Dollar

Gold prices inched up on Wednesday on expectations of a pause in U.S. interest rate hikes and as the dollar weakened against the pound after lawmakers voted down British Prime Minister Theresa May's deal to leave the European Union. Spot gold was up 0.1 percent at $1,290.56 per ounce at 0050 GMT. U.S. gold futures had risen 0.2 percent to $1,290.60 per ounce. Source : Reuters

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...

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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 Retreats After 2-Session Climb as Palladium Futures Look to Settle Above Gold

Gold futures headed lower Tuesday, pulling back after a two-session climb as U.S. benchmark equity indexes rose and the dollar strengthened. Palladium, meanwhile, looked to extend their streak of gains to an 11th consecutive session, setting futures prices up to settle above that of gold for the first time in over 16 years. February gold shed $2.90, or 0.2%, to settle at $1,288.40 an ounce. Futures prices, which touched an intraday high of $1,296.60 on Monday, haven™t been able to settle...

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 Sees Little Reaction After Economic Data

Gold prices are seeing little reaction but remain under pressure as inflation pressures remain elusive in the U.S. economy. Gold prices were under modest selling pressure ahead of the report and remain relatively unchanged in initial reaction. The market continues to stubbornly hold just below $1,300 an ounce. February gold futures last traded at $1,289.80 an ounce, down 0.12% on the day. Tuesday, the U.S. Labor Department said its Producer Price Index (PPI) fell 0.2% in December following a...

Gold Prices Rise as Failed Brexit Vote Drags on Dollar

Gold prices inched up on Wednesday on expectations of a pause in U.S. interest rate hikes and as the dollar weakened against the pound after lawmakers voted down British Prime Minister Theresa May's deal to leave the European Union. Spot gold was up 0.1 percent at $1,290.56 per ounce at 0050 GMT. U.S. gold futures had risen 0.2 percent to $1,290.60 per ounce. Source : Reuters

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...

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