DJIA
Last loading.. Chg. loading..
FTSE
Last loading.. Chg. loading..
NDXI
Last loading.. Chg. loading..
POPULAR NEWS
Silver closes at 13-month high as gold ekes out a gain

Silver futures settled at a 13-month high on Monday, outpacing strength in gold, which saw prices eke out only a modest gain. Rising geopolitical worries on the back of Iran's seizure of a British-flagged tanker, as investors look for major central banks to ease policy, provided support for the precious metals. September silver rose 21.6 cents, or 1.3%, to settle at $16.411 an ounce ” logging the highest finish for a most-active contract since June 22, 2018, according to FactSet...

Dollar Clings to Gains as Gulf Tensions Bolster Safe-Haven Bid

The dollar held recent gains on Monday as investors tempered some of their expectations for deep U.S. interest rate cuts this month and heightened Middle East tensions supported safe-haven assets. While currency market focus will mostly center on global central bank decisions scheduled for the next two weeks, investors are also watching for any developments in U.S.-China trade negotiations. Markets generally expect central banks to either cut rates or keep policy accommodative, starting with...

Gold Prices Rise on Rate Cut Expectations

Gold prices rose on Monday in Asia after landing a second-straight week of gains as traders expect a U.S. rate cut this month. Gold futures for August delivery, traded on the Comex division of the New York Mercantile Exchange inched up 0.1% to $1,427.75 by 12:15 AM ET (04:15 GMT). The yellow metal was supported by IMF™s comments that the U.S. dollar is overvalued, and U.S. President Donald Trump™s call for lower interest rates. On Friday, the President accused the Federal Reserve of...

Gold looks for direction after hitting 6-year high

Gold futures hovered near unchanged Monday, in consolidation mode after hitting a six-year high last week but underpinned by rising geopolitical worries after Iran seized a British-flagged tanker and as investors look for major central banks to ease policy. Gold for August delivery on Comex was up 10 cents, or less than 0.1%, at $1,426.80 an ounce, while September silver rose 21.5 cents, or 1.3%, to $16.41 an ounce. But the analysts expect gold prices to stagnate over the remainder of the...

Stocks eke out small gains as investors prep for busy week of earnings

Stocks logged small gains Monday, buoyed by tech shares, as investors prepared for a busy week that will see more than 140 S&P 500 companies and a third of Dow Jones Industrial Average components deliver second-quarter results. The Dow rose around 17 points, or 0.1%, to end near 27,172, according to preliminary figures, while the S&P 500 rose around 8 points, or 0.3%, to finish near 2,985. The tech-heavy Nasdaq Composite advanced around 58 points, or 0.7%, to close near 8,204. Tech...

Home

Wall St., Main St. Bullish On Gold, See End Of Road For USD
Monday, 18 February 2019 15:47 WIB | GOLD CORNER |Gold OutlookGold Corner

Wall Street and Main Street remain bullish in the weekly Kitco News gold survey.

A number of analysts and traders cited an expectation that the U.S. dollar™s recent rally will stall, which would help gold due to the inverse relationship between the two. Others cited technical-chart strength in gold.

Seventeen market professionals took part in the Wall Street survey. There were 13 votes, or 76%, calling for higher prices. There were two votes each, or 12%, for both lower and sideways.

Meanwhile, 455 respondents took part in an online Main Street poll. A total of 244 voters, or 54%, called for gold to rise. Another 115, or 25%, predicted gold would fall. The remaining 96 voters, or 21%, see a sideways market.

œI think we are getting ready to head towards $1,350 per ounce by next week, said Afshin Nabavi, head of trading at trading house MKS (Switzerland) SA. œSo any retracement lower would be a good opportunity to buy, in my opinion.

Sean Lusk, director of commercial hedging with Walsh Trading, looks for gold to remain in an uptrend amid geopolitical uncertainty over issues such as U.S.-China trade negotiations and reports that President Donald Trump is going to declare an emergency in an effort to fund his border wall. He also cites gold™s ability to hold a number of lows lately just above the $1,300 level.

œFrom a technical standpoint, we should start to run here, Lusk said.

Adam Button, managing director of ForexLive.com, also said he looks for gold to rise, although he said the call is a œtough one because the trend has fizzled. Still, he continued, œI think gold has one more push in it to $1,365 on risk aversion when U.S.-China trade talks go sideways.

Several Wall Street respondents called for gold to rise on an expectation that the U.S. dollar will lose some of its upward momentum.

œThe dollar seems to be hitting resistance up here, said Bob Haberkorn, senior commodities broker with RJO Futures. Additionally, some Federal Reserve officials are scheduled to speak next week and are likely to tilt dovish, Haberkorn said. œThat should be supportive for gold, he said.

Charlie Nedoss, senior market strategist with LaSalle Futures Group, also said the U.S. dollar is probably getting to the high end of its trading range and he doubts it will rise further, particularly after softer U.S. economic data lately.

Eugen Weinberg, head of commodity research at Commerzbank, said that he expects gold prices to continue to rise despite recent upward momentum in the U.S. dollar, adding that it will be difficult for the U.S. dollar to keep rallying in the face of growing headwinds.

œThere are a number of factors weighing on the U.S. dollar: growing recession fears, weaker manufacturing data and a Federal Reserve that will not be raising interest rates anytime soon, Weinberg said.

Meanwhile, David Madden, senior market analyst at CMC Markets, said investors could expect to see gold rally even if the dollar does likewise. He favors buying the metal on price dips.

œDon™t expect to see any major breakouts, but the upward trend in gold is here to stay, he said. œThe U.S. dollar is strong because of weakness in other global currencies, but ultimately a neutral Federal Reserve is a headwind for legitimate dollar strength.

Richard Baker is one of the analysts who sees a temporary pullback in gold, calling for consolidation of the recent gains. He pointed out that the metal had a good week despite a strong dollar and gains in U.S. equities, and gold bounced from its 200-day moving average œlike a rubber ball earlier this month. He said 10-year inflation expectations are rising again from the early-January bottom, stabilizing real rates below.

œThis is a bullish tailwind for gold going forward, Baker said. œHowever, there is probably some consolidation ahead next week before a move higher to the retake the January high ($1,331.10).

Source: Kitco

RELATED NEWS
Wall St., Main St. See Gold Prices Maintaining Upward Momentum...
Monday, 22 July 2019 13:24 WIB

Wall Street and Main Street look for gold to keep building on its recent gains, according to the weekly Kitco News gold survey. The metal hit a fresh six-year high in screen trading after renewed dov...

Wall St. Leans Neutral/Sideways On Gold Prices, Main St. Bullish...
Monday, 15 July 2019 13:42 WIB

Wall Street traders and analysts are undecided or else look for gold prices to be sideways this week, while Main Street remained bullish, according to the weekly Kitco News gold survey. The largest b...

Fed's Easing Pace Questioned But Gold To Remain Around The $1,400 Level - Analysts...
Monday, 8 July 2019 12:50 WIB

The precious metals sector got hit hard last Friday as the market re-priced its Federal Reserve rate cut expectations ” taking a 50-basis point cut off the table in July. The analysts are now busy ...

You Can't Be Anything But Bullish On Gold After $1,400 Breaks “ Analysts...
Monday, 24 June 2019 15:44 WIB

Patience has finally paid off for the gold bull, as demand for the precious metal has pushed prices to levels not seen in nearly six years. Although gold prices are off their highs after breaking abo...

Wall St, Main St. Look For Still-Higher Gold Prices...
Monday, 17 June 2019 14:43 WIB

Gold hit its highest levels in more than a year on Friday, and Wall Street and Main Street look for the momentum to continue this week, based on the weekly Kitco News gold survey. The metal has been ...

POPULAR NEWS
Silver closes at 13-month high as gold ekes out a gain

Silver futures settled at a 13-month high on Monday, outpacing strength in gold, which saw prices eke out only a modest gain. Rising geopolitical worries on the back of Iran's seizure of a British-flagged tanker, as investors look for major central banks to ease policy, provided support for the precious metals. September silver rose 21.6 cents, or 1.3%, to settle at $16.411 an ounce ” logging the highest finish for a most-active contract since June 22, 2018, according to FactSet...

Dollar Clings to Gains as Gulf Tensions Bolster Safe-Haven Bid

The dollar held recent gains on Monday as investors tempered some of their expectations for deep U.S. interest rate cuts this month and heightened Middle East tensions supported safe-haven assets. While currency market focus will mostly center on global central bank decisions scheduled for the next two weeks, investors are also watching for any developments in U.S.-China trade negotiations. Markets generally expect central banks to either cut rates or keep policy accommodative, starting with...

Gold Prices Rise on Rate Cut Expectations

Gold prices rose on Monday in Asia after landing a second-straight week of gains as traders expect a U.S. rate cut this month. Gold futures for August delivery, traded on the Comex division of the New York Mercantile Exchange inched up 0.1% to $1,427.75 by 12:15 AM ET (04:15 GMT). The yellow metal was supported by IMF™s comments that the U.S. dollar is overvalued, and U.S. President Donald Trump™s call for lower interest rates. On Friday, the President accused the Federal Reserve of...

Gold looks for direction after hitting 6-year high

Gold futures hovered near unchanged Monday, in consolidation mode after hitting a six-year high last week but underpinned by rising geopolitical worries after Iran seized a British-flagged tanker and as investors look for major central banks to ease policy. Gold for August delivery on Comex was up 10 cents, or less than 0.1%, at $1,426.80 an ounce, while September silver rose 21.5 cents, or 1.3%, to $16.41 an ounce. But the analysts expect gold prices to stagnate over the remainder of the...

Stocks eke out small gains as investors prep for busy week of earnings

Stocks logged small gains Monday, buoyed by tech shares, as investors prepared for a busy week that will see more than 140 S&P 500 companies and a third of Dow Jones Industrial Average components deliver second-quarter results. The Dow rose around 17 points, or 0.1%, to end near 27,172, according to preliminary figures, while the S&P 500 rose around 8 points, or 0.3%, to finish near 2,985. The tech-heavy Nasdaq Composite advanced around 58 points, or 0.7%, to close near 8,204. Tech...

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.