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POPULAR NEWS
Gold Settles Higher as November Inflation Data Meet Expectations And The Dollar Takes a Dip

Gold futures settled higher on Wednesday, scoring their first gain in three sessions after data showed U.S. inflation remained flat in November and the dollar took a dip after strengthening over the last two sessions. Gold for February delivery on Comex rose $2.80, or 0.2%, to settle at $1,250 an ounce, while March silver added 22.3 cents, or 1.5%, to $14.851 an ounce. The consumer-price index was unchanged in November, matching the forecast of economists polled by MarketWatch. Core CPI,...

Gold Declines as Palladium Retreats From a Record Settlement

Gold futures ended lower Thursday, with overall strength in the dollar helping the metal build on its losses for the week, while palladium eased back from the record settlement it scored in the previous session. Gold for February delivery lost $2.60, or 0.2%, to settle at $1,247.40 an ounce, giving back nearly all of the $2.80 gain it saw a day earlier. Week to date, it has lost 0.4%. March silver settled at $14.855 an ounce, up just under half a cent for the session. March palladium...

Gold Prices Steady on Fed Policy Outlook Uncertainty

Gold prices steadied on Friday, after slipping to a week-low in the previous session, supported by the uncertainty around the Federal Reserve's next year's policy outlook, while the dollar strengthened on expectations of a rate hike next week. Spot gold was steady at $1,242.11 per ounce, as of 0133 GMT. Prices fell to their lowest level since Dec. 7 at $1,239.83 on Thursday. U.S. gold futures were down 0.1 percent at $1,246.4 per ounce. The dollar firmed against major counterparts as...

Gold Steady as Investors Weigh U.S. Inflation, Trade

Gold was steady as investors weighed a pickup in underlying U.S. inflation and the latest developments in U.S.-China trade talks. The so-called core consumer price index, which excludes volatile food and energy costs, rose as expected in November, reinforcing expectations that the Federal Reserve will raise interest rates next week. While trade tensions have appeared to ease, Trump administration officials on Wednesday signaled that Beijing will have to do more to end the tariff...

Pound, Euro Climb with Brexit, ECB Meeting in Focus

The British pound and euro both edged higher on Thursday, as investors kept their focus on Brexit developments and the European Central Bank's final policy meeting of the year. The pound was on the front foot, with GBP/USD gaining 0.3% to 1.2671 by 3:45AM ET (08:45 GMT). It had bounced off a 20-month low of 1.2478 in the last session to end up 1.1% after Prime Minister Theresa May survived a no-confidence vote. The euro was up 0.1% at 1.1385 ahead of the announcement. Elsewhere, the U.S....

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Can Gold Beat The December Curse?
Tuesday, 4 December 2018 12:00 WIB | GOLD CORNER |Global

One commodity analyst says he is waiting to see if the gold market can beat its December curse as the market is starting the month on a strong note, trading just below the critical resistance level of $1,240 an ounce.

In the last three years, December has not been a kind month for gold, with the precious metal consistently hitting its yearly lows during the month. However, Andrew Hecht, creator of the Hecht Commodity Report, said in a commentary on Seeking Alpha that there are signs that this year could be different.

He noted that since hitting its lows in August, the gold market has performed relatively well, even in the face of a strong U.S. dollar.

œGold has had every reason to move to the downside over the past few weeks, but it remains at the $1225 level, he said. The sign of strength in an environment that should be causing weakness is a good sign for the price path of the yellow metal.

Despite some growing optimism, Hecht said that the precious metal isn™t completely out of the woods yet. The Federal Reserve™s monetary policy decision scheduled for December 19 remains the biggest risk and opportunity for gold this month, he added.

œThe Fed has done an excellent job preparing the market for rate hikes, and the next hike that will take the short-term rate to 2.25-2.50% is likely baked into all markets, he said. œTherefore, the devil will be in the details when it comes to the December 2018 meeting of the FOMC as their plans for 2019 and beyond will drive the value of the dollar, gold, and markets across all asset classes.

Gold™s push back to its critical resistance level has been in part due to recent comments from the Federal Reserve Chair Jerome Powell.

Powell pointed out that the current U.S. interest rates are just below œneutral levels, adding that the Fed will remain data dependent and without a set path on future interest rate adjustments.. The comments were made at the at the Economic Club of New York and were deemed dovish by markets.

œThe latest comments from Chairman Powell last week indicated he may be softening his hawkish approach to monetary policy, said Hecht.

In its last economic projections, released in September, the U.S. central bank signaled that it sees three rate hikes next year and one rate hike in 2020.

œA retreat from their tightening could light a bullish fuse under the gold market which is holding these days with one eye on the central bank and the other on the dollar, said Hecht.

Source: Kitco News

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POPULAR NEWS
Gold Settles Higher as November Inflation Data Meet Expectations And The Dollar Takes a Dip

Gold futures settled higher on Wednesday, scoring their first gain in three sessions after data showed U.S. inflation remained flat in November and the dollar took a dip after strengthening over the last two sessions. Gold for February delivery on Comex rose $2.80, or 0.2%, to settle at $1,250 an ounce, while March silver added 22.3 cents, or 1.5%, to $14.851 an ounce. The consumer-price index was unchanged in November, matching the forecast of economists polled by MarketWatch. Core CPI,...

Gold Declines as Palladium Retreats From a Record Settlement

Gold futures ended lower Thursday, with overall strength in the dollar helping the metal build on its losses for the week, while palladium eased back from the record settlement it scored in the previous session. Gold for February delivery lost $2.60, or 0.2%, to settle at $1,247.40 an ounce, giving back nearly all of the $2.80 gain it saw a day earlier. Week to date, it has lost 0.4%. March silver settled at $14.855 an ounce, up just under half a cent for the session. March palladium...

Gold Prices Steady on Fed Policy Outlook Uncertainty

Gold prices steadied on Friday, after slipping to a week-low in the previous session, supported by the uncertainty around the Federal Reserve's next year's policy outlook, while the dollar strengthened on expectations of a rate hike next week. Spot gold was steady at $1,242.11 per ounce, as of 0133 GMT. Prices fell to their lowest level since Dec. 7 at $1,239.83 on Thursday. U.S. gold futures were down 0.1 percent at $1,246.4 per ounce. The dollar firmed against major counterparts as...

Gold Steady as Investors Weigh U.S. Inflation, Trade

Gold was steady as investors weighed a pickup in underlying U.S. inflation and the latest developments in U.S.-China trade talks. The so-called core consumer price index, which excludes volatile food and energy costs, rose as expected in November, reinforcing expectations that the Federal Reserve will raise interest rates next week. While trade tensions have appeared to ease, Trump administration officials on Wednesday signaled that Beijing will have to do more to end the tariff...

Pound, Euro Climb with Brexit, ECB Meeting in Focus

The British pound and euro both edged higher on Thursday, as investors kept their focus on Brexit developments and the European Central Bank's final policy meeting of the year. The pound was on the front foot, with GBP/USD gaining 0.3% to 1.2671 by 3:45AM ET (08:45 GMT). It had bounced off a 20-month low of 1.2478 in the last session to end up 1.1% after Prime Minister Theresa May survived a no-confidence vote. The euro was up 0.1% at 1.1385 ahead of the announcement. Elsewhere, the U.S....

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