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POPULAR NEWS
Gold notches back-to-back gains to hit another 6-year peak

Gold futures fell on Thursday after the precious commodity notched a fresh six-year high Wednesday, prompted by a cocktail of lower debt yields, a pause in dollar strength and bullish comments from a prominent hedge-fund investor. August gold trading on Comex tacked on $4.80, or 0.3%, to settle at $1,428.10 an ounce, after climbing by 0.9% on Wednesday. The latest settlement was the highest for a most-active contract since May 13, 2013, FactSet data show. September silver added 22.7 cents,...

Dollar Held Back by Lower U.S. Yields, Rebound in Pound

The dollar nursed light losses on Thursday, weighed down by lower U.S. yields and a rebound in the pound from 27-month lows. The dollar index versus a basket of six major currencies was flat at 97.200 after shedding 0.2% the previous day. The index had climbed to a one-week peak of 97.444 the previous day on stronger-than-expected U.S. retail sales and a slump in sterling. But it nudged lower as Treasury yields fell in the wake of weak U.S. housing market data and concerns about the...

Gold edges lower, takes a breather after touching fresh 6-year peak

Gold futures were trading little changed on Thursday after the precious commodity notched a fresh six-year high Wednesday, prompted by a cocktail of lower debt yields, a pause in dollar strength and bullish comments from a prominent hedge-fund investor. August gold trading on Comex edged $1.20, or 0.1%, at $1,422 an ounce, after it jumped $12.10, or 0.9%, on Wednesday, notching its highest finish for a most active contract since May 14, 2013, FactSet data show. Prices took a leg slightly...

Oil Drops by Nearly 3%, With U.S. Prices at Lowest in a Month

Oil futures dropped by nearly 3% on Thursday, sending U.S. prices to their lowest finish in roughly a month. Prices reversed earlier gains, "reacting to the weakness in U.S. equities and over expectations of a production rise from the U.S. Gulf of Mexico region, coming back into service after last week's Hurricane Barry disrupted production," said Mihir Kapadia, chief executive officer of Sun Global Investments. August West Texas Intermediate oil lost $1.48, or 2.6%, to settle at $55.30 a...

Gold Slips From Near 6-Year High; Silver Extends Rally

Gold slipped from near the highest level in six years as investors weighed the scale of expected interest rate cuts by the Federal Reserve this year. Silver rose to a five-month high. With just two weeks until the Fed™s policy meeting, the central bank™s anecdotal Beige Book report suggested the outlook was generally positive and the labor market remains tight -- but companies are still struggling to pass on higher wages and tariff-related costs to customers. Expectations...

Gold Busts Above $1,350 as Iran Tension, Fed Outlook Spur Demand
Friday, 14 June 2019 16:03 WIB | PRECIOUS METALS |GOLDEMAS

Gold smashed above $1,350 an ounce to a 14-month high as rising geopolitical tensions bolster haven demand ahead of next week's Federal Reserve meeting, when policy makers may move closer to cutting rates.

Bullion for immediate delivery rose as much as 1.2% to $1,358.26 an ounce. Prices are set for a fourth weekly gain, the longest run since January. Investors are also pouring into gold-backed exchange-traded funds, with holdings rising to the highest since late February.

Gold has surged in June, shaking off a lackluster few months, as investors brace for more uncertainty around global trade and on expectations the Federal Reserve is set to lay the groundwork for looser monetary policy at its meeting next week.

Haven assets are getting a boost from jitters in the Middle East after the Trump administration blamed Iran for attacks on two oil tankers, and the warning by U.S. economic adviser Larry Kudlow that Beijing may face consequences it if refuses an invitation to restart trade talks.

Bullion may reach $1,400 this year as investors hedge risk, according to Rhona O'Connell, head of market analysis for EMEA and Asia regions at INTL FCStone Inc. Billionaire trader Paul Tudor Jones said earlier this week gold is his favorite pick in the next 24 months and, if prices hit $1,400, they will quickly move to $1,700.

Other precious metals also rose. Silver has gained 0.1% this week, platinum is up 1.4% and palladium has rallied 7.3% to the highest since April 29.

Source : Bloomberg

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POPULAR NEWS
Gold notches back-to-back gains to hit another 6-year peak

Gold futures fell on Thursday after the precious commodity notched a fresh six-year high Wednesday, prompted by a cocktail of lower debt yields, a pause in dollar strength and bullish comments from a prominent hedge-fund investor. August gold trading on Comex tacked on $4.80, or 0.3%, to settle at $1,428.10 an ounce, after climbing by 0.9% on Wednesday. The latest settlement was the highest for a most-active contract since May 13, 2013, FactSet data show. September silver added 22.7 cents,...

Dollar Held Back by Lower U.S. Yields, Rebound in Pound

The dollar nursed light losses on Thursday, weighed down by lower U.S. yields and a rebound in the pound from 27-month lows. The dollar index versus a basket of six major currencies was flat at 97.200 after shedding 0.2% the previous day. The index had climbed to a one-week peak of 97.444 the previous day on stronger-than-expected U.S. retail sales and a slump in sterling. But it nudged lower as Treasury yields fell in the wake of weak U.S. housing market data and concerns about the...

Gold edges lower, takes a breather after touching fresh 6-year peak

Gold futures were trading little changed on Thursday after the precious commodity notched a fresh six-year high Wednesday, prompted by a cocktail of lower debt yields, a pause in dollar strength and bullish comments from a prominent hedge-fund investor. August gold trading on Comex edged $1.20, or 0.1%, at $1,422 an ounce, after it jumped $12.10, or 0.9%, on Wednesday, notching its highest finish for a most active contract since May 14, 2013, FactSet data show. Prices took a leg slightly...

Oil Drops by Nearly 3%, With U.S. Prices at Lowest in a Month

Oil futures dropped by nearly 3% on Thursday, sending U.S. prices to their lowest finish in roughly a month. Prices reversed earlier gains, "reacting to the weakness in U.S. equities and over expectations of a production rise from the U.S. Gulf of Mexico region, coming back into service after last week's Hurricane Barry disrupted production," said Mihir Kapadia, chief executive officer of Sun Global Investments. August West Texas Intermediate oil lost $1.48, or 2.6%, to settle at $55.30 a...

Gold Slips From Near 6-Year High; Silver Extends Rally

Gold slipped from near the highest level in six years as investors weighed the scale of expected interest rate cuts by the Federal Reserve this year. Silver rose to a five-month high. With just two weeks until the Fed™s policy meeting, the central bank™s anecdotal Beige Book report suggested the outlook was generally positive and the labor market remains tight -- but companies are still struggling to pass on higher wages and tariff-related costs to customers. Expectations...

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