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POPULAR NEWS
Gold Rises as Brexit Turmoil Eclipses Jump in Equities

Gold futures rose for the third time in four sessions as the U.K.™s fallout over Brexit eclipsed a global stock market rally. The metal is heading for a fifth week of gains as the U.K. parliament is mired in turmoil surrounding the terms of leaving the European Union. Haven demand helped boost holdings in exchange-traded funds backed by bullion to a 13th straight gain and the highest since May. In the cash market, platinum, trading near a decade low, is near...

Gold Pulls Back From 2-Week High as $1,300 Mark Proves Elusive

Gold futures pulled back on Thursday from the nearly two-week high they settled at a day earlier, as the psychologically important $1,300 line remained elusive for another session. Gold for February delivery edged down by $1.50, or 0.1%, to settle at $1,292.30 an ounce. It settled Wednesday at an almost two-week high of $1,293.80, on the back of political turmoil in the U.K. and U.S. March silver also fell 10.2 cents, or 0.7%, to $15.536 an ounce on Thursday. Source : Marketwatch

Gold pauses as investors wave off geopolitical worries, snap up stocks

Gold futures struggled for direction Wednesday as investors waved off turmoil surrounding the U.K.'s plan to leave the European Union and continued to pile into equities, depriving the yellow metal of haven-related demand. Gold for February delivery was up $2, or 0.2%, at $1,290.40 an ounce, while March silver was off 4 cents, or 0.3%, to $15.58 an ounce. In other metals trading, April platinum rose 0.1% to $800.70 an ounce, while March palladium was up 1.2% to $1,292 an ounce. March copper...

Gold Prices Rise as Failed Brexit Vote Drags on Dollar

Gold prices inched up on Wednesday on expectations of a pause in U.S. interest rate hikes and as the dollar weakened against the pound after lawmakers voted down British Prime Minister Theresa May's deal to leave the European Union. Spot gold was up 0.1 percent at $1,290.56 per ounce at 0050 GMT. U.S. gold futures had risen 0.2 percent to $1,290.60 per ounce. Source : Reuters

Gold Drifts as Stocks Rise, Brexit Turmoil Continues

Gold lacked a clear direction, holding the tight range that it™s been stuck in so far this year, as investors weighed the U.K.'s fallout over Brexit against global stock market gains. Spot gold unchanged at $1,289.51/oz while Bloomberg Dollar Spot Index edged 0.1% up. Bullion rallied in the final month of 2018 on stock market turmoil and speculation the Federal Reserve would pause in raising rates, but has struggled to sustain momentum in January. The metal hasn™t breached...

Wall St., Main St. Expect Gold To Keep Shining
Monday, 10 December 2018 13:04 WIB | GOLD CORNER |Gold OutlookGold Corner

Wall Street and Main Street both look for gold to build on last week's move higher during the this week, based on the Kitco News gold survey.

Observers suggested Friday's softer-than-forecast report on U.S. nonfarm payrolls will continue to offer support to the precious metal. The Labor Department reported that 155,000 new nonfarm jobs were created last month, when expectations had been for around 190,000 to 200,000. Still, the jobless rate remained at a 49-year low of 3.7%.

Fourteen market professionals took part in the Wall Street survey. Eight respondents, or 57%, predicted higher prices by this Friday. There were three votes each, or 21%, for lower and sideways/neutral.

Meanwhile, 501 people responded to an online Main Street poll. A total of 319 respondents, or 64%, called for gold to rise. Another 118, or 24%, predicted gold would fall. The remaining 64 voters, or 13%, saw a sideways market.

'I am bullish on gold for this week,' said Colin Cieszynski, chief market strategist at SIA Wealth Management. 'With Treasury yields falling and nonfarm payrolls missing, the U.S. has been in retreat and I think this could continue this week, lifting the lid off gold and enabling it to potentially rally further.'

Phil Flynn, senior market analyst with at Price Futures Group, also looks for prices to rise after the jobs report.

œThe weaker-than-expected jobs headline number should conquer to lower rate-hike expectations, Flynn said. œThat should give gold a stronger outlook going forward.

Jim Wyckoff, senior technical analyst with Kitco, cited an improving chart posture.

œGold is potentially on the verge of major trend change if we can see a breakout move over $1,250, said Phillip Streible, senior market strategist with RJO Futures. œThe key driver will be the tone of the highly anticipated December FOMC [Federal Open Market Committee] meeting.

Sean Lusk, director of commercial hedging with Walsh Trading, looks for gold to keep its bid. Should the February futures take out the October high of $1,252, the metal could go back to the $1,265-$1,270 area, he said.

Meanwhile, Richard Baker, editor of the Eureka Miner Report, looks for gold to pull back.

œAt the release of a so-so jobs report, Comex gold made a six-week high, barely nudging above the key $1,250 level, he said. œDoes it move higher from here? It is instructive to note that in that same period, the yellow metal has gained about 1% in value relative to the embattled S&P 500 and copper prices are only 1% higher -- seemingly calm waters if we ignore the violent market storms in between.

œThis suggests that gold prices are at the top of a range that is unlikely to change until there is more clarity on the turbulent U.S.-China trade relations and the trajectory of U.S. Federal Reserve hikes next year.

Daniel Pavilonis, senior commodities broker with RJO Futures, looks for chart resistance to emerge around the $1,255 level. Further, he added, if the softer-than-forecast U.S. jobs data gives equities a lift, investors may be less inclined to turn to gold.

'I think it's going to top out this week and come off again,' Pavilonis said.

Afshin Nabavi, head of trading at trading house MKS (Switzerland) SA, characterized the market as still range-bound. œA break above $1,250 is needed to trigger some fresh interest, he added.

Kevin Grady, president of Phoenix Futures and Options, said he is neutral for this week.

œI do not see many traders putting on positions with the holidays looming, he said .I also think the volatility in the equity markets is causing traders to pause and wait for more clarity.

Source: Kitco

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POPULAR NEWS
Gold Rises as Brexit Turmoil Eclipses Jump in Equities

Gold futures rose for the third time in four sessions as the U.K.™s fallout over Brexit eclipsed a global stock market rally. The metal is heading for a fifth week of gains as the U.K. parliament is mired in turmoil surrounding the terms of leaving the European Union. Haven demand helped boost holdings in exchange-traded funds backed by bullion to a 13th straight gain and the highest since May. In the cash market, platinum, trading near a decade low, is near...

Gold Pulls Back From 2-Week High as $1,300 Mark Proves Elusive

Gold futures pulled back on Thursday from the nearly two-week high they settled at a day earlier, as the psychologically important $1,300 line remained elusive for another session. Gold for February delivery edged down by $1.50, or 0.1%, to settle at $1,292.30 an ounce. It settled Wednesday at an almost two-week high of $1,293.80, on the back of political turmoil in the U.K. and U.S. March silver also fell 10.2 cents, or 0.7%, to $15.536 an ounce on Thursday. Source : Marketwatch

Gold pauses as investors wave off geopolitical worries, snap up stocks

Gold futures struggled for direction Wednesday as investors waved off turmoil surrounding the U.K.'s plan to leave the European Union and continued to pile into equities, depriving the yellow metal of haven-related demand. Gold for February delivery was up $2, or 0.2%, at $1,290.40 an ounce, while March silver was off 4 cents, or 0.3%, to $15.58 an ounce. In other metals trading, April platinum rose 0.1% to $800.70 an ounce, while March palladium was up 1.2% to $1,292 an ounce. March copper...

Gold Prices Rise as Failed Brexit Vote Drags on Dollar

Gold prices inched up on Wednesday on expectations of a pause in U.S. interest rate hikes and as the dollar weakened against the pound after lawmakers voted down British Prime Minister Theresa May's deal to leave the European Union. Spot gold was up 0.1 percent at $1,290.56 per ounce at 0050 GMT. U.S. gold futures had risen 0.2 percent to $1,290.60 per ounce. Source : Reuters

Gold Drifts as Stocks Rise, Brexit Turmoil Continues

Gold lacked a clear direction, holding the tight range that it™s been stuck in so far this year, as investors weighed the U.K.'s fallout over Brexit against global stock market gains. Spot gold unchanged at $1,289.51/oz while Bloomberg Dollar Spot Index edged 0.1% up. Bullion rallied in the final month of 2018 on stock market turmoil and speculation the Federal Reserve would pause in raising rates, but has struggled to sustain momentum in January. The metal hasn™t breached...

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