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POPULAR NEWS
Gold prices settle at nearly two-week peak

Gold futures edged higher on Monday, settling at their highest in almost two weeks as prices extended recent gains scored on the back of expectations for a U.S. Federal Reserve interest-rate cut at the end of the month. Gold for August delivery on Comex added $1.30, or about 0.1%, to settle at $1,413.50 an ounce. That™s the highest most-active contract settlement since July 3, which saw a finish at $1,420.90”the highest since May 2013, FactSet data show. September silver also rose 12.9...

Gold steadies on mixed Chinese data, higher equities curb gains

Gold steadied on Monday after data showed Chinese economic growth slowed to its weakest in about 27 years, while gains in equities curbed appetite for bullion as investors latched onto some positive readings from the world's second-biggest economy. China's second-quarter annual GDP growth fell to a 27-year low of 6.2% as expected, but its quarterly growth reading of 1.6% beat forecasts. June reports on industrial production, retail sales and urban investment were above expectations. Spot...

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Oil prices carried over a bullish tone from last week after Tropical Storm Barry shut down almost three-quarters of U.S. Gulf of Mexico production over the weekend. Futures in New York were up slightly, after gaining 4.7% last week. Barry weakened to a tropical depression Sunday, with some producers preparing to re-staff their offshore platforms. As of Sunday, Barry caused nearly 73% of crude oil production in the gulf to shut, up from 70% the day before, the Bureau of Safety...

Hong Kong shares end higher on upbeat China data (Review)

Hong Kong shares rose on Monday after China's upbeat retail sales and factory output numbers pointed to some stabilisation in the world's second-largest economy, and as China's second-quarter economic growth met expectations. At the close of trade, the Hang Seng index was up 83.26 points, or 0.29%, at 28,554.88. The Hang Seng China Enterprises index rose 0.47% to 10,838.99. The sub-index of the Hang Seng tracking energy shares rose 0.1%, while the IT sector gained 1.37%, the financial sector...

Gold Trades Steady Ahead of China GDP Data

Gold prices held steady in early Asian trade on Monday, as market participants awaited key economic data from China for cues about the health of the world™s second-largest economy. Spot gold was flat at $1,415.34 per ounce as of 0100 GMT. U.S. gold futures were up 0.3% at $1,416.50 an ounce. Source : Reuters

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Wall St., Main St. Look For Gold Prices To Tick Higher
Monday, 8 April 2019 12:06 WIB | GOLD CORNER |Gold OutlookGold Corner

The biggest voting blocs on Wall Street and Main Street look for gold prices to rise over the this week, according to the weekly Kitco News gold survey.

Thirteen market professionals took part in the Wall Street survey. Seven participants, or 54%, described themselves as bullish for the this week. There were three voters each, or 23%, for both bearish and sideways.

Meanwhile, 534 respondents took part in an online Main Street poll. A total of 239 voters, or 45%, called for gold to rise. Another 191, or 36%, predicted gold would fall. The remaining 104 voters, or 19%, saw a sideways market.

In the last survey, Wall Street and Main Street were both bullish on gold for the last week. As of 11 a.m. EDT, Comex June gold futures were trading 0.2% lower for the week so far at $1,295.90 an ounce. So far in 2019, both Wall Street and Main Street are 7-5 in the weekly poll for a winning percentage of 58%.

"Gold should be up," said Phil Flynn, senior market analyst with Price Futures Group. "We held key support this week and we expect that physical demand will pick up."

He pointed out that core inflation remains "calm" and commented that the Federal Reserve probably won't raise interest rates even with a strong U.S. employment number.

Daniel Pavilonis, senior commodities broker with RJO Futures, also looks for gold to bounce from support levels that held around this week's lows.

"This [recent weakness] was a washout and an opportunity to start getting long [establish a bullish position] again," Pavilonis said. "We™re positive now. If we have a strong close today, I think we™ll see a lot of follow-through next week."

Afshin Nabavi, head of trading at trading house MKS (Switzerland) SA, also looks for gold to rise.

"With the geopolitical issues around the world, and the recent test of $1,280s ( yesterday), I can only remain bullish and look for a break above $1,295 and $1,300 level to push the price of the gold to the recent highs of $1,345," Nabavi said.

Charlie Nedoss, senior market strategist with LaSalle Futures Group who correctly predicted that gold would slip two weeks in a row, looks for still another down week. He noted that data still show the economy doing OK.

"I'm still friendly to the dollar," he said, later adding, "That, in turn, will weigh on gold."

Technically, one key will be what June gold does around the 100-day moving average near $1,294.60, Nedoss said. The metal has been below it last week but was hovering nearly right on this as Nedoss spoke. If this fails, the strategist said he does not see "hard support" until the 200-day average of $1,266.50.

Jim Wyckoff, senior technical analyst with Kitco, looks for gold to be "steady and choppy as near-term technicals have turned neutral at best."

Source: Kitco News

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POPULAR NEWS
Gold prices settle at nearly two-week peak

Gold futures edged higher on Monday, settling at their highest in almost two weeks as prices extended recent gains scored on the back of expectations for a U.S. Federal Reserve interest-rate cut at the end of the month. Gold for August delivery on Comex added $1.30, or about 0.1%, to settle at $1,413.50 an ounce. That™s the highest most-active contract settlement since July 3, which saw a finish at $1,420.90”the highest since May 2013, FactSet data show. September silver also rose 12.9...

Gold steadies on mixed Chinese data, higher equities curb gains

Gold steadied on Monday after data showed Chinese economic growth slowed to its weakest in about 27 years, while gains in equities curbed appetite for bullion as investors latched onto some positive readings from the world's second-biggest economy. China's second-quarter annual GDP growth fell to a 27-year low of 6.2% as expected, but its quarterly growth reading of 1.6% beat forecasts. June reports on industrial production, retail sales and urban investment were above expectations. Spot...

Oil Holds Advance After Storm Barry Disrupts U.S. Production

Oil prices carried over a bullish tone from last week after Tropical Storm Barry shut down almost three-quarters of U.S. Gulf of Mexico production over the weekend. Futures in New York were up slightly, after gaining 4.7% last week. Barry weakened to a tropical depression Sunday, with some producers preparing to re-staff their offshore platforms. As of Sunday, Barry caused nearly 73% of crude oil production in the gulf to shut, up from 70% the day before, the Bureau of Safety...

Hong Kong shares end higher on upbeat China data (Review)

Hong Kong shares rose on Monday after China's upbeat retail sales and factory output numbers pointed to some stabilisation in the world's second-largest economy, and as China's second-quarter economic growth met expectations. At the close of trade, the Hang Seng index was up 83.26 points, or 0.29%, at 28,554.88. The Hang Seng China Enterprises index rose 0.47% to 10,838.99. The sub-index of the Hang Seng tracking energy shares rose 0.1%, while the IT sector gained 1.37%, the financial sector...

Gold Trades Steady Ahead of China GDP Data

Gold prices held steady in early Asian trade on Monday, as market participants awaited key economic data from China for cues about the health of the world™s second-largest economy. Spot gold was flat at $1,415.34 per ounce as of 0100 GMT. U.S. gold futures were up 0.3% at $1,416.50 an ounce. Source : Reuters

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