DJIA
Last loading.. Chg. loading..
FTSE
Last loading.. Chg. loading..
NDXI
Last loading.. Chg. loading..
POPULAR NEWS
Gold prices end lower on growing tensions between the U.S and China over Hong Kong

Gold futures ended lower Wednesday, but of session lows as tensions between the U.S. and China worsened after Secretary of State Mike Pompeo announced that Hong Kong is no longer autonomous from China. The announcement could lead the Trump Administration to revoke special treatment for the Hong Kong economy, which is exempt from tariffs levied on Chinese imports. Jeff Wright, executive vice president of GoldMining Inc., had expected to see a "snap back" in prices with U.S.-China tensions...

Gold prices settle slightly higher Thursday

Gold prices notched a slight gain Thursday as investors focused on intensifying friction between the U.S. and China. Continued concerns about negative interest rates and a jump in flows in exchange-traded funds focused on gold also helped to push bullion higher. August gold ended $1.50, or 0.1%, higher at $1,728.30 an ounce. However, that finish was well off the intraday peak for bullion at $1,743.70 an ounce. Source: Marketwatch

Gold Prices Head Higher as China-U.S. Tensions Spur Haven Buying

Gold futures rose on Thursday as China-U.S. tensions remained in focus, driving haven buying on Wall Street. Elevated animosities between Beijing and Washington over China's human rights policies, including its relationship with Hong Kong and the treatment of a Muslim minority, have underpinned buying in haven assets. China on Thursday hardened its stance, forging ahead with a resolution to impose national-security laws on Hong Kong in a bid to suppress protests there. That action comes...

Gold Gains As Hong Kong Unrest Stirs Risk Aversion

Gold prices rose on Thursday as tensions between the United States and China over a Hong Kong security law escalated, while fresh stimulus measures by several economies to mitigate the coronavirus fallout also lent support. Spot gold was up 0.2% at $1,711.35 per ounce, as of 1250 GMT, after touching a two-week low on Wednesday. U.S. gold  futures fell 0.2% to $1,723.60. U.S. Secretary of State Mike Pompeo said Hong Kong no longer qualifies for its special status under the U.S. law,...

Gold Prices Edge Up As Hong Kong Dispute Riles China-U.S. Ties

Gold edged up on Thursday after hitting a two-week low in the previous session as the rift between Washington and Beijing over Hong Kong escalated, with prices also supported by central bank and government largesse to cushion the blow from the pandemic. Spot gold was up 0.2% at $1,712.39 per ounce, as of 0315 GMT, after dropping to $1,693.22 on Wednesday. U.S. gold futures were flat at $1,711.40. Worsening relations between the world™s two biggest economies could further hobble global...

Home

Gold Prices Seen Building On Biggest Weekly Gain Since 2008
Monday, 30 March 2020 13:03 WIB | GOLD CORNER |EMASGOLD

Seventy-one percent of the Wall Street and Main Street respondents in the weekly Kitco gold price survey look for the precious metal to build on its gains this week.

Just before 11 a.m. EDT on Friday, Comex April gold was trading at $1618.10 an ounce. Even though that was down $33.10 for the day, the metal had still posted a gain of 9% for the week so far. Analysts pointed out that the metal posted its biggest weekly gain since 2008, with the biggest impetus an early-week announcement of open-ended quantitative easing and other programs from the Federal Reserve to prop up the economy and markets amid the COVID-19 outbreak.

The U.S. Senate approved a stimulus package and the House of Representatives was expected to do likewise.

Fourteen market professionals took part in the Wall Street survey. There were 10 votes, or 71%, for higher prices this week. One respondent, or 7%, was bearish, while three, or 21%, were neutral or called for sideways prices.

Meanwhile, 1,595 votes were cast in an online Main Street poll. A total of 1,138 voters, or 71%, looked for gold to rise in the this week. Another 244, or 15%, said lower, while 213, or 13%, were neutral.

œI think we are going to be up this week after we see if the vote [on stimulus in the U.S. House of Representatives] is passed and after we see if the stimulus that is promised by the G20 [Group of 20 nations] is in effect also, said George Gero, managing director with RBC Wealth Management.

Charlie Nedoss, senior market strategist with LaSalle Futures Group, looks for gold to rise some more now that the June dollar index has fallen enough to test the 20-day moving average near 98.95. The dollar has bounced from its low, and some late-week profit-taking has occurred in gold, he said.

œBut longer term, I think gold is going to continue to push higher, Nedoss said. Technically, he added, the area around $1,600 an ounce should offer good support for gold as both a psychological level and since it™s also the area around the 20- and 50-day moving averages.

Kevin Grady, president of Phoenix Futures and Options LLC, also described himself as bullish for next week despite Friday™s pullback.

œI believe the sell-off today is attributed to the both the options expiration last night and the fact that the April contract will be rolling into June by Monday, Grady said. œAt this time, longs have to decide whether to roll their existing position or to liquidate. I think that we are seeing April liquidation today. Gold margins were raised from $7,000 to $8,350 on March 25th. This could be a big factor in their decision.

Jim Wyckoff, senior technical analyst with Kitco, also said higher.

œCharts are friendly and investors/traders are now confident about buying markets, as opposed to standing on the sidelines and hoarding cash amid recent higher anxiety, Wyckoff said.

Adam Button, managing director of ForexLive, also looks for gains in gold now that investors aren™t having to sell to raise cash instead, as was the case earlier this month when equities were in a free fall.

œThe liquidation phase of this crisis is over, and the focus is shifting to monetary debasement and economic uncertainty, Button said.

Richard Baker, editor of the Eureka Miner™s Report, looks for gold to rise since a number of obstacles to higher prices were cleared last week. These include the U.S. dollar coming down from its highs and perhaps facing increasing pressure from the multi-trillion-dollar relief package from Congress; an abatement of the liquidations that previously depressed precious metals, even though Friday morning™s sharp equity decline may signal a smaller round is underway; and a bullish low interest-rate environment.

œWith the U.S. quickly becoming the new epicenter of this horrific pandemic, the uncertainty facing the economies and markets will propel gold to $1,800 per ounce, perhaps higher, Baker said. œI believe it likely that Comex gold will see at least $1,680 per ounce this week, with embattled silver following to $14.80 per ounce.

Meanwhile, Mark Leibovit, publisher of VR Metals/Resource Letter, said in an email that gold œlooks toppy to me. Called the pullback to the mid $1,400s when everyone else was bullish. Cycles down to summer.

The neutral votes included Colin Cieszynski, chief market strategist at SIA Wealth Management, and Phillip Streible, chief market strategist with Blue Line Futures.

œGold appears to be settling into a $1,600-$1,640 trading range but...the potential exists for large swings in both directions, Cieszynski said. œWhat happens with the U.S. dollar may continue to drive short-term trading swings, while the ongoing dovishness of central banks provides longer-term support.

Added Streible: œGold futures are fighting heavy resistance at $1,704 and will need more clarity on the stimulus and weaker equity prices in order to attract further buying.

The April futures peaked at $1,704.30 on March 9 and stopped just shy of $1,700 two days last week.

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 prices end lower on growing tensions between the U.S and China over Hong Kong

Gold futures ended lower Wednesday, but of session lows as tensions between the U.S. and China worsened after Secretary of State Mike Pompeo announced that Hong Kong is no longer autonomous from China. The announcement could lead the Trump Administration to revoke special treatment for the Hong Kong economy, which is exempt from tariffs levied on Chinese imports. Jeff Wright, executive vice president of GoldMining Inc., had expected to see a "snap back" in prices with U.S.-China tensions...

Gold prices settle slightly higher Thursday

Gold prices notched a slight gain Thursday as investors focused on intensifying friction between the U.S. and China. Continued concerns about negative interest rates and a jump in flows in exchange-traded funds focused on gold also helped to push bullion higher. August gold ended $1.50, or 0.1%, higher at $1,728.30 an ounce. However, that finish was well off the intraday peak for bullion at $1,743.70 an ounce. Source: Marketwatch

Gold Prices Head Higher as China-U.S. Tensions Spur Haven Buying

Gold futures rose on Thursday as China-U.S. tensions remained in focus, driving haven buying on Wall Street. Elevated animosities between Beijing and Washington over China's human rights policies, including its relationship with Hong Kong and the treatment of a Muslim minority, have underpinned buying in haven assets. China on Thursday hardened its stance, forging ahead with a resolution to impose national-security laws on Hong Kong in a bid to suppress protests there. That action comes...

Gold Gains As Hong Kong Unrest Stirs Risk Aversion

Gold prices rose on Thursday as tensions between the United States and China over a Hong Kong security law escalated, while fresh stimulus measures by several economies to mitigate the coronavirus fallout also lent support. Spot gold was up 0.2% at $1,711.35 per ounce, as of 1250 GMT, after touching a two-week low on Wednesday. U.S. gold  futures fell 0.2% to $1,723.60. U.S. Secretary of State Mike Pompeo said Hong Kong no longer qualifies for its special status under the U.S. law,...

Gold Prices Edge Up As Hong Kong Dispute Riles China-U.S. Ties

Gold edged up on Thursday after hitting a two-week low in the previous session as the rift between Washington and Beijing over Hong Kong escalated, with prices also supported by central bank and government largesse to cushion the blow from the pandemic. Spot gold was up 0.2% at $1,712.39 per ounce, as of 0315 GMT, after dropping to $1,693.22 on Wednesday. U.S. gold futures were flat at $1,711.40. Worsening relations between the world™s two biggest economies could further hobble global...

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.