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POPULAR NEWS
Gold Ends Lower, Building on a Weekly Decline

Gold futures ended lower on Thursday as concerns surrounding U.S.-China trade talks eased and the dollar traded higher for the week. However, the largest monthly drop in retail sales in nine years backed expectations that the U.S. Federal Reserve will pause interest-rates hikes, helping to limit the loss for gold. April gold lost $1.20, or less than 0.1%, to settle at $1,313.90 an ounce, trading about 0.4% lower for the week so far. The SPDR Gold Shares ETF was up 0.4%. Source : Marketwatch

Gold Advances on Fed Outlook Amid Trade Talk Suspense

Gold rises as contained inflation data bolstered the Federal Reserve™s decision to go slow on raising rates, while investors track high-level trade talks between U.S., China in Beijing. Spot gold +0.2% to $1,308.35/oz at 7:11am in London. Bloomberg Dollar Spot Index -0.1% after ending Weds at highest since Jan. 2; index is heading for first back-to-back weekly gains this year. A key measure of U.S. inflation was little changed in January, while the broader...

Gold prices firm as dollar eases on grim U.S. retail sales

Gold prices firmed on Friday as the dollar weakened slightly after disappointing U.S. data indicated slowing economic momentum, supporting the U.S. Federal Reserve's 'patient' monetary policy approach. Spot gold was little changed at $1,312.82 per ounce at 0009 GMT. It rose 0.5 percent in the previous session in its biggest intraday gain since Jan. 30. U.S. gold futures were up 0.1 percent at $1,315 an ounce. U.S. retail sales recorded their biggest drop in more than nine years in December...

Hong Kong stocks fall as trade talks begin (Review)

Hong Kong stocks retreated Thursday as top US and Chinese officials met in Beijing for trade talks aimed at preventing an escalation in tariffs before a March 1 deadline. The Hang Seng Index lost 0.23 percent, or 65.54 points, to 28,432.05. The benchmark Shanghai Composite Index closed 0.05 percent lower, or 1.37 points, to 2,719.70, while the Shenzhen Composite Index, which tracks stocks on China's second exchange, added 0.66 percent, or 9.16 points, to 1,398.84. Source: AFP

Pound Slips Before Brexit Vote Amid ERG Threats

The pound declines for a second day ahead of PM May™s motion in parliament; faces a revolt from euroskeptic lawmakers from within her own party because they perceive it to take a no-deal exit from the EU off the table. Sterling down 0.2% to $1.2814, lowest level since Jan. 15; declines 0.1% to 87.73 pence per euro Members of the anti-EU European Research Group met with Chief Whip Julian Smith on Wednesday evening to insist that leaving the bloc without an agreement must remain an option,...

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Wall St., Main St. Look For Gold To Regain Its Shine
Monday, 11 February 2019 11:38 WIB | GOLD CORNER |Gold OutlookGold Corner

Wall Street and Main Street both remain bullish in the weekly Kitco News gold survey, in essence considering last week's pullback as a correction in a market that still is still in an uptrend.

Fifteen market professionals took part in the Wall Street survey. There were 11 votes, or 73%, calling for higher prices. There were two votes each, or 13%, for both lower and sideways.

Meanwhile, 467 respondents took part in an online Main Street poll. A total of 259 voters, or 55%, called for gold to rise. Another 129, or 28%, predicted gold would fall. The remaining 79 voters, or 17%, see a sideways market.

In the last survey, nearly two-thirds of Wall Street and Main Street was bullish on gold.

œI remain bullish on gold for this week, said Colin Cieszynski, chief market strategist at SIA Wealth Management. œA recent correction appears to have run its course with gold having successfully tested $1,305 support and the price starting to turn back upward again. With another U.S. government shutdown looming, Brexit talks going nowhere, U.S.-China trade talks having normal ups and downs, and earnings season continuing, there is a lot going on to keep the volatility pot boiling and defensive havens like gold still attractive to some investors.

Kevin Grady, president of Phoenix Futures and Options, also looks for further price appreciation as long as gold holds above $1,305.

œWe™re kind of in a step-up pattern technically, said Daniel Pavilonis, senior commodities broker with RJO Futures. œI think stocks are still going to be weak, but I think the metals will be higher.

Phil Flynn, senior market analyst with at Price Futures Group, also looks for the precious metal to trade higher, citing its ability to bounce late in the week even as the U.S. dollar remained strong. The continuing U.S.-China trade spat could prompt some safe-haven buying, he continued.

œGenerally speaking, gold has been a forgotten asset for a while, Flynn said. œIt is starting to look better from a technical standpoint.

Jim Wyckoff, senior technical analyst with Kitco, also said higher, commenting that the œtrend is still up and the downside correction is likely near an end.

Afshin Nabavi says the area around $1,302 is becoming a strong support and the market could move higher. œThe concerns over U.S.-China trade dispute [and] eventual possibility of another government shutdown would make me think of a push towards $1,350ish area, he said.

Meanwhile, independent technical analyst Darin Newsom is one of those who sees gold moving lower.

œI still see April gold moving into a secondary downtrend on its weekly chart, Newsom said, citing bearish crossovers by weekly Stochastics above the overbought 80% mark.

œThe U.S. dollar index moved to a new four-week high last week, indicating more strength ahead, which should mean increased pressure on gold.

Phillip Streible, senior market strategist with RJO Futures, looks for gold to be in a sideways pattern. œI wouldn™t be surprised that we have a new defined range between $1,306-$1,330."

Source: Kitco

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POPULAR NEWS
Gold Ends Lower, Building on a Weekly Decline

Gold futures ended lower on Thursday as concerns surrounding U.S.-China trade talks eased and the dollar traded higher for the week. However, the largest monthly drop in retail sales in nine years backed expectations that the U.S. Federal Reserve will pause interest-rates hikes, helping to limit the loss for gold. April gold lost $1.20, or less than 0.1%, to settle at $1,313.90 an ounce, trading about 0.4% lower for the week so far. The SPDR Gold Shares ETF was up 0.4%. Source : Marketwatch

Gold Advances on Fed Outlook Amid Trade Talk Suspense

Gold rises as contained inflation data bolstered the Federal Reserve™s decision to go slow on raising rates, while investors track high-level trade talks between U.S., China in Beijing. Spot gold +0.2% to $1,308.35/oz at 7:11am in London. Bloomberg Dollar Spot Index -0.1% after ending Weds at highest since Jan. 2; index is heading for first back-to-back weekly gains this year. A key measure of U.S. inflation was little changed in January, while the broader...

Gold prices firm as dollar eases on grim U.S. retail sales

Gold prices firmed on Friday as the dollar weakened slightly after disappointing U.S. data indicated slowing economic momentum, supporting the U.S. Federal Reserve's 'patient' monetary policy approach. Spot gold was little changed at $1,312.82 per ounce at 0009 GMT. It rose 0.5 percent in the previous session in its biggest intraday gain since Jan. 30. U.S. gold futures were up 0.1 percent at $1,315 an ounce. U.S. retail sales recorded their biggest drop in more than nine years in December...

Hong Kong stocks fall as trade talks begin (Review)

Hong Kong stocks retreated Thursday as top US and Chinese officials met in Beijing for trade talks aimed at preventing an escalation in tariffs before a March 1 deadline. The Hang Seng Index lost 0.23 percent, or 65.54 points, to 28,432.05. The benchmark Shanghai Composite Index closed 0.05 percent lower, or 1.37 points, to 2,719.70, while the Shenzhen Composite Index, which tracks stocks on China's second exchange, added 0.66 percent, or 9.16 points, to 1,398.84. Source: AFP

Pound Slips Before Brexit Vote Amid ERG Threats

The pound declines for a second day ahead of PM May™s motion in parliament; faces a revolt from euroskeptic lawmakers from within her own party because they perceive it to take a no-deal exit from the EU off the table. Sterling down 0.2% to $1.2814, lowest level since Jan. 15; declines 0.1% to 87.73 pence per euro Members of the anti-EU European Research Group met with Chief Whip Julian Smith on Wednesday evening to insist that leaving the bloc without an agreement must remain an option,...

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