DJIA
Last loading.. Chg. loading..
FTSE
Last loading.. Chg. loading..
NDXI
Last loading.. Chg. loading..
POPULAR NEWS
Gold Down Over Escalating U.S.-China Tensions

Gold was down in Asia on Monday morning, with escalating U.S.-China tensions continuing to impact demand for even the safe-haven asset. Gold futures slid by 0.47% at $1,727.40 by 12:26 AM ET (5:26 AM GMT), with the yellow metal unable to hold onto its gains from the previous session. Stocks, which usually move in the opposite direction to gold, were mixed with Greater Chinese stocks suffering losses on Monday. Investors risk sentiment was down on Friday after China formally tabled national...

Gold Falls as Potential Japan Stimulus Boosts Risk Appetite

Gold declined on Monday as Japanese equities rose on news of a potential stimulus program that boosted investors™ risk appetite, though fresh tensions over Hong Kong limited the metal™s fall. Spot gold was down 0.5% at $1,726.18 per ounce by 0512 GMT. U.S. gold futures were fell 0.5% to $1,726.60. Gold on Friday rose as much as 0.8% to touch $1,739.51, before paring gains. Japan is considering fresh stimulus worth over $929 billion, which mostly consists of financial aid programs for...

Oil Dips as U.S.-China Tensions Add to Nerves on Global Economy

Oil edged lower as an escalating war of words between the U.S. and China added to caution over the prospects for a global recovery in demand. Futures in New York lost 0.4% in Asian trading after falling 2% on Friday. China warned that some in the U.S. were pushing the countries toward a new Cold War, stoking concerns that deteriorating relations between the superpowers could complicate the market™s recovery from a historic demand crash. Beijing last week abandoned its decades-long practice...

Gold down as potential Japanese stimulus boosts risk appetite

Gold declined on Monday as Japanese equities rose on news of a potential stimulus programme that boosted investors' risk appetite, though fresh tensions over Hong Kong limited the metal's fall. Spot gold fell 0.4% to $1,728.06 per ounce by 02:52 GMT. U.S. gold futures were down 0.4% at 1,728.50. Gold on Friday rose as much as 0.8% to touch $1,739.51, before paring gains. Japan is considering fresh stimulus worth over $929 billion, which mostly consists of financial aid programmes for...

Tokyo stocks open higher on virus hopes

Tokyo stocks opened higher on Monday on expectations the state of emergency will be lifted for the whole nation including economic powerhouse Tokyo. The benchmark Nikkei 225 index was up 1.37 percent or 279.75 points at 20,667.91 in early trade, while the broader Topix index advanced 1.16 percent or 17.20 points to 1,495.00. Source:  AFP

Home

Gold Prices Expected to Regain Footing
Monday, 2 March 2020 12:57 WIB | GOLD CORNER |Gold CornerGold Outlook

Participants in the weekly Kitco gold survey haven't given up on the precious metal despite Friday's sharp sell-off.

Main Street remains solidly bullish. And while Wall Street was somewhat mixed, the largest bloc of voters called for a rebound in prices.

Fifteen market professionals took part in the Wall Street survey. Seven, or 47%, called for gold to rise. Five voters, or 33%, called for further weakness. Three respondents, or 20%, were either neutral or predicted sideways prices.

Meanwhile, 1,619 votes were cast in an online Main Street poll, which was the most in 2 ½ years. A total of 1,079 voters, or 67%, looked for gold to rise in the this week. Another 303, or 19%, said lower, while 237, or 15%, were neutral.

Still, optimism remains.

"I remain bullish for this week in gold," said Kevin Grady, president of Phoenix Futures and Options. "The news about the coronavirus continues to worsen, so I think gold will remain volatile yet firm. The interesting thing to note is that the flight to quality remains steady in bonds but intermittent in gold."

Richard Baker, editor of the Eureka Miner™s Report, explained that profit-taking, forced long liquidation and low consumer demand in China likely all played a part in Comex gold retreating over the last week. But he looks for a comeback.

"Given the mounting uncertainty surrounding the impact this illness [coronavirus] will have on the U.S. economy and the world, I believe it likely that gold will recover lost ground this week to the $1,650 level...and to $1,800 per ounce in the weeks to come," Baker said.

He later added, "The lustrous metal and U.S. Treasurys will remain global safe havens of choice in a world of increasingly negative interest rates (the German Bund hit a new negative record low last week). In the U.S., the 10-year real rate [which adjusts for inflation] is solidly negative, sustaining a very bullish environment for a non-interest earning asset like gold."

Adrian Day, chairman and chief executive officer of Adrian Day Asset Management, also said higher since "gold should act well during market instability."

Others fear further weakness.

"Momentum is to the downside," said Charlie Nedoss, senior market strategist with LaSalle Futures Group. He pointed out that the metal has now fallen below $1,621 area, which is the 50% retracement of the prior rise from the Feb. 5 low of $1,551.10 an ounce to last Monday's high of $1,691.70.

Ronald-Peter Stoeferle, fund manager at Incrementum AG and author of the annual In Gold We Trust report, also said lower as margin calls kick in and sentiment and the heavily bullish position in the Commitments of Traders report looks worrisome. Further, if fiscal and monetary stimulus should be announced over the weekend, a relief rally in equities could hurt gold prices, he added.

Daniel Pavilonis, senior commodities broker with RJO Futures, looks for gold to be sideways.

"With the [stock] markets selling off the way they are, gold should be up a lot higher," he said.

However, he noted, there are some rumblings in the market that perhaps the Federal Reserve will undertake some action to underpin the stock market. If so, that could take away some of the safe-haven demand for gold.

"I would be more inclined to take a profit here in gold if I was long," he said. "That's why I'm saying this week maybe sideways."

Colin Cieszynski, chief market strategist at SIA Wealth Management, described himself as neutral.

"On the bearish side, despite high stock-market volatility through the week, gold peaked on last Monday and has been sliding. Also, the global active coronavirus case count has been declining through the week [so] it's possible a lot of the hype could drop off at some point.

"On the bullish side, the increasing measures being undertaken by governments and businesses around the world to combat the outbreak could still have a larger and longer-lasting impact on the global economy, which may force the central banks to make a coordinated effort to get things going again at some point."

Source: Kitco News

RELATED NEWS
Wall St., Main St. Look for Gold to Regain its Luster...
Monday, 25 May 2020 14:32 WIB

Wall Street and Main Street look for gold prices to rise this week, according to the weekly Kitco News gold survey. Traders and analysts who make up the Wall Street poll continued to cite the mass li...

Wall St., Main St. Both Look For Gold Prices To Keep Shining...
Monday, 18 May 2020 11:17 WIB

Wall Street and Main Street alike remain bullish on gold prices for this week, according to the weekly Kitco News gold survey. Professional investors and traders cited the ongoing quantitative-easing...

Wall St., Main St. Look for Bounce in Gold Prices...
Monday, 4 May 2020 12:06 WIB

Wall Street and Main Street were both undeterred by last week™s pullback in gold, calling for the metal to rise this week, according to the weekly Kitco News gold survey. Wall Street is not as heav...

Harga emas siap untuk level $ 1.800: Pasar amati dua event minggu ini...
Monday, 27 April 2020 11:27 WIB

Strategi para pedagang emas tampaknya penurunan harga beli karena logam mulia bersiap-siap untuk menguji level tertinggi 2012, menurut analis. Lebih banyak data ekonomi yang buruk pekan lalu tampakny...

Gold-Price Sentiment Overwhelmingly Bullish...
Tuesday, 14 April 2020 08:27 WIB

Participants in the weekly Kitco gold-price survey look for the metal to maintain its upward momentum this week as central banks and governments keep rolling out measures to prop up an economy that is...

POPULAR NEWS
Gold Down Over Escalating U.S.-China Tensions

Gold was down in Asia on Monday morning, with escalating U.S.-China tensions continuing to impact demand for even the safe-haven asset. Gold futures slid by 0.47% at $1,727.40 by 12:26 AM ET (5:26 AM GMT), with the yellow metal unable to hold onto its gains from the previous session. Stocks, which usually move in the opposite direction to gold, were mixed with Greater Chinese stocks suffering losses on Monday. Investors risk sentiment was down on Friday after China formally tabled national...

Gold Falls as Potential Japan Stimulus Boosts Risk Appetite

Gold declined on Monday as Japanese equities rose on news of a potential stimulus program that boosted investors™ risk appetite, though fresh tensions over Hong Kong limited the metal™s fall. Spot gold was down 0.5% at $1,726.18 per ounce by 0512 GMT. U.S. gold futures were fell 0.5% to $1,726.60. Gold on Friday rose as much as 0.8% to touch $1,739.51, before paring gains. Japan is considering fresh stimulus worth over $929 billion, which mostly consists of financial aid programs for...

Oil Dips as U.S.-China Tensions Add to Nerves on Global Economy

Oil edged lower as an escalating war of words between the U.S. and China added to caution over the prospects for a global recovery in demand. Futures in New York lost 0.4% in Asian trading after falling 2% on Friday. China warned that some in the U.S. were pushing the countries toward a new Cold War, stoking concerns that deteriorating relations between the superpowers could complicate the market™s recovery from a historic demand crash. Beijing last week abandoned its decades-long practice...

Gold down as potential Japanese stimulus boosts risk appetite

Gold declined on Monday as Japanese equities rose on news of a potential stimulus programme that boosted investors' risk appetite, though fresh tensions over Hong Kong limited the metal's fall. Spot gold fell 0.4% to $1,728.06 per ounce by 02:52 GMT. U.S. gold futures were down 0.4% at 1,728.50. Gold on Friday rose as much as 0.8% to touch $1,739.51, before paring gains. Japan is considering fresh stimulus worth over $929 billion, which mostly consists of financial aid programmes for...

Tokyo stocks open higher on virus hopes

Tokyo stocks opened higher on Monday on expectations the state of emergency will be lifted for the whole nation including economic powerhouse Tokyo. The benchmark Nikkei 225 index was up 1.37 percent or 279.75 points at 20,667.91 in early trade, while the broader Topix index advanced 1.16 percent or 17.20 points to 1,495.00. Source:  AFP

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.