DJIA
Last loading.. Chg. loading..
FTSE
Last loading.. Chg. loading..
NDXI
Last loading.. Chg. loading..
POPULAR NEWS
Gold futures up a fourth straight session to mark another finish at the highest since 2011

Gold futures climbed for a fourth straight session on Wednesday to mark another finish at their highest since September 2011. The move for gold above $1,800 is not surprising given "so many positive price drivers in its favor, with the key player being negative real rates," said Peter Spina, president and chief executive officer at GoldSeek.com. He does not expect to see a meaningful pullback in gold until it breaks past $2,000. On Wednesday, August gold rose $10.70, or 0.6%, to settle at...

Gold futures pull back from a fresh 9-year peak, but hold above $1,800 an ounce

Gold futures ended lower on Thursday, pulling back a day after scoring another settlement at the highest since September 2011, but the haven metal held ground above $1,800 an ounce after data showed weekly U.S. jobless claims remained well above one million. August gold fell $16.80, or 0.9%, to settle at $1,803.80 an ounce, a day after the most-active contract rose 0.6% to settle at $1,820.60, the highest since Sept. 14, 2011, according to FactSet data. Prices on Thursday touched a low of...

Gold Holds Near 2011 High on Virus Concerns, Dollar

Gold held near the highest level in almost nine years as concerns over the coronavirus pandemic drives demand for haven assets, while the dollar slipped. The number of confirmed infections in the U.S. surpassed 3 million, representing a quarter of global cases. California and Texas, the two most populous states, reported some of their largest daily rises in cases and deaths. Spot gold little changed at $1,809.01/oz at 8:09am in Singapore. On Wednesday, prices touched...

Gold Prices Extend Climb to 9-Year High as Traders See Few Limits to Central-Bank Stimulus

Gold futures climbed on Wednesday, building on their highest settlement since September 2011 a day earlier and supported by the prospect of a lengthy period of government and central bank stimulus to support economies harmed by the COVID-19 pandemic. On Tuesday, the Federal Reserve's No. 2, Richard Clarida, did little to disabuse investors of the view that the Fed would do whatever it takes to limit the damage from the viral outbreak. Precious metals have benefited from loose monetary policy...

Oil rises on improving U.S. gasoline demand

Oil prices edged up on Wednesday on signs of a recovery in gasoline consumption in the United States, but rising U.S. crude inventories and an increase in coronavirus infections limited gains. Brent crude futures rose 25 cents to $43.37 a barrel. West Texas Intermediate crude futures settled 28 cents, or 0.69%, higher at $40.90 per barrel. Both benchmarks were on track for a fourth session of daily percentage changes of less 1% in either direction, shrugging off news that OPEC member Libya...

Home

Little conviction in gold market as trade talks ebb and flow
Monday, 25 November 2019 11:27 WIB | GOLD CORNER |Gold CornerGold Outlook

Confusion and uncertainty dominates the gold market as traders and investors continue to react to shifting trade sentiment between China and the U.S.

The latest Kitco News Weekly Gold Survey shows Wall Street analysts nearly caught in a three-way tie, while only a slight majority of retail investors remain bearish on gold.

"One day a trade deal with China is on and then the next day it's off. This uncertainty is supporting gold but it's not enough to drive gold prices higher," said Afshin Nabavi, head of trading with MKS (Switzerland) SA.

Last week, 16 market professionals took part in the Wall Street survey. In a tie, five analysts or 31% said they see higher, and other five analysts saw a sideways market this week. Six analysts, or 38%, predicted gold would fall.

Meanwhile, 587 respondents took part in an online Main Street poll. A total of 292 voters, or 50%, called for gold to rise. Another 173, or 29%, predicted gold would fall. The remaining 121 voters, or 21%, saw a sideways market.

In the last survey, Main Street and Wall Street both proved to be wrong calling for higher prices in previous week's survey. As of 12:13 p.m. EST, December gold futures last traded at $1,463 an ounce, down 0.37% from the previous week.

According to most analysts, the main driver for gold in the near-term remains the ongoing trade dispute between China and the U.S.

Adam Button, managing director for Forexlive.com, said that he is bullish on gold.

"The timing is tricky but cracks are beginning to appear in the phase one trade deal and if it breaks down, that would be a major catalyst for gold," Button said.  Right now, the market has largely priced in a deal but even if there is a deal, it may be less than hoped."

However, on the other side, Button said that if the U.S. delays the Dec. 15 tariffs and there is progress made between the two countries, then gold prices would drop.

Adrian Day, chairman and chief executive officer of Adrian Day Asset Management, also named the trade talks as the primary catalyst to push gold higher in the short term. But, he also noted that "wobbly global equity markets heading into year end could provide some support for gold.

Richard Baker, editor of the Eureka Miner Report, said that a top in equity markets could provide some momentum for gold this week.

"The S&P 500 made an all-time intraday high Tuesday (3,127.64). I believe it likely that this is a top for the time being so the prospects for gold moving higher on falling stocks are positive," he said.

Sean Lusk, co-director of commercial hedging with Walsh Trading, said that he is bearish on gold in the near-term as speculative interest remains high. He added that traders might shed some bullish bets this week ahead of the U.S. Thanksgiving holiday. He added that resilient strength in the U.S. dollar could also weigh on the yellow metal in the near-term.

Although he is bearish on gold in the short-term, Lusk added that even with the recent selling pressure, the market is still in a strong uptrend.

"There is still a strong sense of uncertainty and interest rates are still fairly negative and in that environment, you want a tangle asset like gold," he said.

Mark Leibovit, publisher of VR Metals/Resource Letter, said that he is also bearish on gold in the near-term but remains bullish long-term. He added that he sees the selloff running to mid-December with prices fall back to $1,400 an ounce.

Source: Kitco News

RELATED NEWS
Gold price bull rally: the drive is alive...
Monday, 6 July 2020 13:40 WIB

Gold achieved an important milestone this past week as priced pushed above $1,800 an ounce for the first time since 2011 and with strong fundamentals and what appears to be an unstoppable uptrend, ret...

Emas dan Saham Telah Berdamai...
Friday, 3 July 2020 14:53 WIB

Untuk pertama kalinya tren indeks berjangka emas tidak terpengaruh oleh sentimen pasar saham selama masa pandemi COVID-19. Di sisi lain, emas saat ini cenderung dipengaruhi oleh tingkat imbal hasil r...

July, Gold is Still Promising...
Wednesday, 1 July 2020 16:41 WIB

Index futures closed above $ 1,800 per ounce on Tuesday, June 30, 2020, which also means closing in the first half of this year. Over the past six months gold has become the most active futures contra...

Wall St., Main St. Look for Gold Prices to Keep Shining...
Monday, 29 June 2020 13:42 WIB

Gold prices should maintain maintain their recent upward momentum as the COVID-19 pandemic keeps spreading and prompting worries about the economy, according to respondents in the weekly Kitco News go...

Wall St., Main St. Upbeat About Short-Term Outlook for Gold Prices...
Monday, 22 June 2020 13:29 WIB

Respondents in the weekly Kitco News gold survey are bullish on gold for this week, with some Wall Street professionals suggesting monetary policy and fiscal stimulus will lead to another test of the ...

POPULAR NEWS
Gold futures up a fourth straight session to mark another finish at the highest since 2011

Gold futures climbed for a fourth straight session on Wednesday to mark another finish at their highest since September 2011. The move for gold above $1,800 is not surprising given "so many positive price drivers in its favor, with the key player being negative real rates," said Peter Spina, president and chief executive officer at GoldSeek.com. He does not expect to see a meaningful pullback in gold until it breaks past $2,000. On Wednesday, August gold rose $10.70, or 0.6%, to settle at...

Gold futures pull back from a fresh 9-year peak, but hold above $1,800 an ounce

Gold futures ended lower on Thursday, pulling back a day after scoring another settlement at the highest since September 2011, but the haven metal held ground above $1,800 an ounce after data showed weekly U.S. jobless claims remained well above one million. August gold fell $16.80, or 0.9%, to settle at $1,803.80 an ounce, a day after the most-active contract rose 0.6% to settle at $1,820.60, the highest since Sept. 14, 2011, according to FactSet data. Prices on Thursday touched a low of...

Gold Holds Near 2011 High on Virus Concerns, Dollar

Gold held near the highest level in almost nine years as concerns over the coronavirus pandemic drives demand for haven assets, while the dollar slipped. The number of confirmed infections in the U.S. surpassed 3 million, representing a quarter of global cases. California and Texas, the two most populous states, reported some of their largest daily rises in cases and deaths. Spot gold little changed at $1,809.01/oz at 8:09am in Singapore. On Wednesday, prices touched...

Gold Prices Extend Climb to 9-Year High as Traders See Few Limits to Central-Bank Stimulus

Gold futures climbed on Wednesday, building on their highest settlement since September 2011 a day earlier and supported by the prospect of a lengthy period of government and central bank stimulus to support economies harmed by the COVID-19 pandemic. On Tuesday, the Federal Reserve's No. 2, Richard Clarida, did little to disabuse investors of the view that the Fed would do whatever it takes to limit the damage from the viral outbreak. Precious metals have benefited from loose monetary policy...

Oil rises on improving U.S. gasoline demand

Oil prices edged up on Wednesday on signs of a recovery in gasoline consumption in the United States, but rising U.S. crude inventories and an increase in coronavirus infections limited gains. Brent crude futures rose 25 cents to $43.37 a barrel. West Texas Intermediate crude futures settled 28 cents, or 0.69%, higher at $40.90 per barrel. Both benchmarks were on track for a fourth session of daily percentage changes of less 1% in either direction, shrugging off news that OPEC member Libya...

DISCLAIMER

Seluruh materi atau konten yang tersaji di dalam website ini hanya bersifat informatif saja, dan tidak dimaksudkan sebagai pegangan serta keputusan dalam investasi atau jenis transaksi lainnya. Kami tidak bertanggung jawab atas segala akibat yang timbul dari penyajian konten tersebut. Semua pihak yang mengunjungi website ini harus membaca Terms of Service (Syarat dan Ketentuan Layanan) terlebih dahulu dan dihimbau untuk melakukan analisis secara independen serta memperoleh saran dari para ahli dibidangnya.