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POPULAR NEWS
Gold futures end higher, up more than 3% for the month

Gold futures ended higher on Friday as tensions between the U.S. and China over Hong Kong fed haven demand for the precious metal. Meanwhile, Federal Reserve Chairman Jerome Powell said Friday that while he was a bit less tense about the economy, he is still concerned about a potential "second wave" of the coronavirus outbreak. Against that backdrop, August gold climbed by $23.40, or nearly 1.4%, to settle at $1,751.70 an ounce. Most-active futures contract prices ended the month with a gain...

Powell Says The Fed is 'Days Away' from Making The First Loans in The Main Street Lending Facility

Federal Reserve Chairman Jerome Powell said the central bank's long-awaited program to lend to small- and medium-sized businesses is about to get off the ground. The Main Street lending facility, which will target companies with up to 15,000 employees, has been difficult to set up but is just about ready, Powell told Princeton University economist and former Fed official Alan Blinder in a webinar interview Friday. "We're days away from making our first loans in Main Street, he said. "We...

U.S. oil futures reverse course to finish higher, climb 88% for the month

U.S. oil futures reversed course to finish higher Friday, getting a boost as traders eye developments tied to Hong Kong related tensions between the U.S. and China, and as another drop in U.S. oil rigs suggested further domestic production declines. U.S. prices ended the month with a gain of 88%, based on the front months, to mark the best monthly performance on record, according to Dow Jones Market Data. July West Texas Intermediate oil rose $1.78, or 5.3%, to settle at $35.49 a barrel on...

S&P, Dow Open Lower on Jitters Over Trump's China Response

The S&P 500 and Dow Jones indexes opened lower on Friday as investors braced for a U.S. response to China's national security law on Hong Kong, threatening to take the shine off another month of strong gains for the stock market. The Dow Jones Industrial Average fell 76.49 points, or 0.30%, at the open to 25,324.15, and the S&P 500 opened lower by 4.56 points, or 0.15%, at 3,025.17. The Nasdaq Composite gained 13.36 points, or 0.14%, to 9,382.35 at the opening bell. Source : Reuters

Dow hits session low, falls more than 250 points ahead of Trump news conference on China

Stocks were lower on Friday as traders braced for an upcoming news conference on U.S.-China relations from President Donald Trump. The Dow Jones Industrial Average fell 255 points, or 1%. The S&P 500 slid 0.7% while the Nasdaq Composite was down by 0.1%. Trump said Thursday afternoon he would hold the news conference, knocking stocks down from solid gains. That announcement came after China approved a national security bill for Hong Kong that experts warn could endanger the city™s...

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What's Next For Gold Price? COVID-19 Targets U.S., Europe; Fed Looks To Cut Rates To Zero
Monday, 16 March 2020 13:21 WIB | GOLD CORNER |EMASGOLD

Markets fear just how much the COVID-19 outbreak could hurt the U.S. and Europe ” the next two regions that will be hit the hardest by the virus. And as the Federal Reserve looks increasingly ready to cut rates down to zero all in one go this week, it might be a great opportunity to buy gold, according to analysts.

Gold was not able to escape the massive market sell-off this week, which accelerated on Thursday as U.S. stocks posted their worst day since 1987. Gold fell victim to margin-calls, as investors were forced to sell their gold positions to cover for losses elsewhere.

œWe suspect that margin calls and losses in other markets are driving investors to search for cash, and gold happens to be the liquid position they are choosing to cash out on, said RBC Capital Markets commodity strategist Christopher Louney.

Gold continues to be stuck in a bit of a liquidity selling regime, said TD Securities commodity strategist Ryan McKay.

œWhen we see terrible days in equities like we saw on Monday and Thursday, we tend to see gold trade weaker along with equities because funds are selling their gold to cover margins and offset losses, McKay noted.

Gold is down more than 9% on a weekly basis, which could lead to the most significant weekly loss since 2011. At the time of writing, April Comex gold futures were last at $1,520.80, down 4.37% on the day.

But the market sell-off could be far from over, said Capital Economics chief commodities economist Caroline Bain.

œOur markets team expects equity markets to continue to fall until it becomes clear that maybe the worst of the virus has passed. We could see a further drop in the price of gold over the next couple of weeks just because it is so liquid and people need cash, Bain said Friday.

Source : Kitco

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POPULAR NEWS
Gold futures end higher, up more than 3% for the month

Gold futures ended higher on Friday as tensions between the U.S. and China over Hong Kong fed haven demand for the precious metal. Meanwhile, Federal Reserve Chairman Jerome Powell said Friday that while he was a bit less tense about the economy, he is still concerned about a potential "second wave" of the coronavirus outbreak. Against that backdrop, August gold climbed by $23.40, or nearly 1.4%, to settle at $1,751.70 an ounce. Most-active futures contract prices ended the month with a gain...

Powell Says The Fed is 'Days Away' from Making The First Loans in The Main Street Lending Facility

Federal Reserve Chairman Jerome Powell said the central bank's long-awaited program to lend to small- and medium-sized businesses is about to get off the ground. The Main Street lending facility, which will target companies with up to 15,000 employees, has been difficult to set up but is just about ready, Powell told Princeton University economist and former Fed official Alan Blinder in a webinar interview Friday. "We're days away from making our first loans in Main Street, he said. "We...

U.S. oil futures reverse course to finish higher, climb 88% for the month

U.S. oil futures reversed course to finish higher Friday, getting a boost as traders eye developments tied to Hong Kong related tensions between the U.S. and China, and as another drop in U.S. oil rigs suggested further domestic production declines. U.S. prices ended the month with a gain of 88%, based on the front months, to mark the best monthly performance on record, according to Dow Jones Market Data. July West Texas Intermediate oil rose $1.78, or 5.3%, to settle at $35.49 a barrel on...

S&P, Dow Open Lower on Jitters Over Trump's China Response

The S&P 500 and Dow Jones indexes opened lower on Friday as investors braced for a U.S. response to China's national security law on Hong Kong, threatening to take the shine off another month of strong gains for the stock market. The Dow Jones Industrial Average fell 76.49 points, or 0.30%, at the open to 25,324.15, and the S&P 500 opened lower by 4.56 points, or 0.15%, at 3,025.17. The Nasdaq Composite gained 13.36 points, or 0.14%, to 9,382.35 at the opening bell. Source : Reuters

Dow hits session low, falls more than 250 points ahead of Trump news conference on China

Stocks were lower on Friday as traders braced for an upcoming news conference on U.S.-China relations from President Donald Trump. The Dow Jones Industrial Average fell 255 points, or 1%. The S&P 500 slid 0.7% while the Nasdaq Composite was down by 0.1%. Trump said Thursday afternoon he would hold the news conference, knocking stocks down from solid gains. That announcement came after China approved a national security bill for Hong Kong that experts warn could endanger the city™s...

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