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POPULAR NEWS
Gold Settles Higher as November Inflation Data Meet Expectations And The Dollar Takes a Dip

Gold futures settled higher on Wednesday, scoring their first gain in three sessions after data showed U.S. inflation remained flat in November and the dollar took a dip after strengthening over the last two sessions. Gold for February delivery on Comex rose $2.80, or 0.2%, to settle at $1,250 an ounce, while March silver added 22.3 cents, or 1.5%, to $14.851 an ounce. The consumer-price index was unchanged in November, matching the forecast of economists polled by MarketWatch. Core CPI,...

Gold Declines as Palladium Retreats From a Record Settlement

Gold futures ended lower Thursday, with overall strength in the dollar helping the metal build on its losses for the week, while palladium eased back from the record settlement it scored in the previous session. Gold for February delivery lost $2.60, or 0.2%, to settle at $1,247.40 an ounce, giving back nearly all of the $2.80 gain it saw a day earlier. Week to date, it has lost 0.4%. March silver settled at $14.855 an ounce, up just under half a cent for the session. March palladium...

Gold Prices Jump to Session Highs After U.S. Inflation Data

Gold prices ticked higher on Wednesday, hitting the best levels of the session after data showed that U.S. consumer price growth slowed in November. Comex gold futures were up $4.00, or about 0.3%, at $1,251.20 a troy ounce by 8:45AM ET (13:45 GMT), not far from a five-month peak of $1,256.60 touched at the start of the week. Meanwhile, spot gold was trading at $1,246.28 per ounce, up $3.30, or 0.25%. In other metals action, silver futures gained 15.9 cents, or about 1.1%, at $14.78 a troy...

Gold Steady as Investors Weigh U.S. Inflation, Trade

Gold was steady as investors weighed a pickup in underlying U.S. inflation and the latest developments in U.S.-China trade talks. The so-called core consumer price index, which excludes volatile food and energy costs, rose as expected in November, reinforcing expectations that the Federal Reserve will raise interest rates next week. While trade tensions have appeared to ease, Trump administration officials on Wednesday signaled that Beijing will have to do more to end the tariff...

Gold Steady as ETF Holdings Expand to Four-Month High

Gold steadies as holdings in bullion-backed exchange-traded funds expand amid concerns about slowing global economic growth and a potential pause in interest rate increases by the Federal Reserve. The U.S. central bank is unlikely to raise rates in 2019 and 2020 based on bond market indicators and the greenback is expected to weaken, according to Jeffrey Gundlach, chief investment officer of DoubleLine Capital. Money managers reduced bearish bets on bullion in...

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TDS Looks For $1,300/Oz Gold Prices By End Of 2019
Tuesday, 2 October 2018 21:22 WIB | GOLD CORNER |Gold OutlookGold Corner

Gold prices may remain under pressure in the near term but are likely to rally into year-end and 2019 with the help of an eventually softening U.S. dollar and many other factors, says TD Securities.

'We forecast the yellow metal to average $1,225/oz in the last three months of 2018, with prices moving into the $1,300s by the end of 2019,' the Canadian bank said in a research note on Monday.

The precious metal, which has been on the defensive for much of 2018, weakened at the end of last week after the Federal Open Market Committee not only hiked U.S. interest rates by another 25 basis points but continued to hint at more tightening to come. Additionally, Italian budget uncertainty left the euro under pressure against the U.S. dollar. Precious metals tend to move inversely to the U.S. currency.

Spot gold fell as far as $1,181.05 an ounce last week, its lowest level since mid-August.

TDS analysts said they expect choppy range-bound trading between $1,180 and 1,215 per ounce in the near term.

'Indeed, fiscal stimulus and worries that rates are set to rise ever closer to the dots [based on the Fed™s so-called dot-plot] will increase the opportunity costs of holding zero-yielding assets,' TDS said. 'Until other Western central banks meaningfully tighten their policy, the U.S. dollar's strength relative to Western and EM [emerging-market] currencies is quite likely to remain a significant headwind that will suppress positioning for gold bugs. As such, we don't expect much sustainable upside in the near term, and expect prices to remain under pressure for now.'

But eventually, that should change, TDS said. The key will be a reversal of U.S. dollar strength.

'At the same time, considering that exposure is extremely skewed toward short positioning [in gold], there is a very strong case to be made for a robust rally as factors currently depressing the market, such as rate expectations, the USD and weak emerging markets, eventually reverse course and trigger a bout of short covering, TDS said.

The bank projected the dollar will start weakening 'materially' in 2019 and that real U.S. 10-year yields are unlikely to rise much above 1% as trade worries and diminishing returns on U.S. fiscal stimulus moderate optimism.

'The fast pace of U.S. debt growth even at the peak of the cycle, equity-market correction risk and emerging primary physical deficits should also serve as support,' TDS said.

Gold should top $1,300 until the final three months of 2019, TDS said.

œBut we do believe that it will be a choppy road higher due to the recent USD jump higher, and ongoing trade issues that are depressing the Chinese currency and growth expectations, TDS said. œAmbiguity surrounding how hawkish the U.S. central bank will be with over the next twelve months will create volatility and may drive prices lower still.

Source: Kitco News

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POPULAR NEWS
Gold Settles Higher as November Inflation Data Meet Expectations And The Dollar Takes a Dip

Gold futures settled higher on Wednesday, scoring their first gain in three sessions after data showed U.S. inflation remained flat in November and the dollar took a dip after strengthening over the last two sessions. Gold for February delivery on Comex rose $2.80, or 0.2%, to settle at $1,250 an ounce, while March silver added 22.3 cents, or 1.5%, to $14.851 an ounce. The consumer-price index was unchanged in November, matching the forecast of economists polled by MarketWatch. Core CPI,...

Gold Declines as Palladium Retreats From a Record Settlement

Gold futures ended lower Thursday, with overall strength in the dollar helping the metal build on its losses for the week, while palladium eased back from the record settlement it scored in the previous session. Gold for February delivery lost $2.60, or 0.2%, to settle at $1,247.40 an ounce, giving back nearly all of the $2.80 gain it saw a day earlier. Week to date, it has lost 0.4%. March silver settled at $14.855 an ounce, up just under half a cent for the session. March palladium...

Gold Prices Jump to Session Highs After U.S. Inflation Data

Gold prices ticked higher on Wednesday, hitting the best levels of the session after data showed that U.S. consumer price growth slowed in November. Comex gold futures were up $4.00, or about 0.3%, at $1,251.20 a troy ounce by 8:45AM ET (13:45 GMT), not far from a five-month peak of $1,256.60 touched at the start of the week. Meanwhile, spot gold was trading at $1,246.28 per ounce, up $3.30, or 0.25%. In other metals action, silver futures gained 15.9 cents, or about 1.1%, at $14.78 a troy...

Gold Steady as Investors Weigh U.S. Inflation, Trade

Gold was steady as investors weighed a pickup in underlying U.S. inflation and the latest developments in U.S.-China trade talks. The so-called core consumer price index, which excludes volatile food and energy costs, rose as expected in November, reinforcing expectations that the Federal Reserve will raise interest rates next week. While trade tensions have appeared to ease, Trump administration officials on Wednesday signaled that Beijing will have to do more to end the tariff...

Gold Steady as ETF Holdings Expand to Four-Month High

Gold steadies as holdings in bullion-backed exchange-traded funds expand amid concerns about slowing global economic growth and a potential pause in interest rate increases by the Federal Reserve. The U.S. central bank is unlikely to raise rates in 2019 and 2020 based on bond market indicators and the greenback is expected to weaken, according to Jeffrey Gundlach, chief investment officer of DoubleLine Capital. Money managers reduced bearish bets on bullion in...

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