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Gold prices end lower; silver rallies to highest finish since February

Gold ended lower on Tuesday as a rise in U.S. retail sales contributed to a stronger U.S. dollar, pressuring prices for the precious metal. The upbeat retail sales number, however, also lifted prices for silver, brightening the metal™s industrial demand prospects. August gold trading on Comex fell $2.30, or 0.2%, to settle at $1,411.20 an ounce. On Monday, the yellow metal booked its highest most-active contract settlement since July 3, which saw a finish at $1,420.90”the highest since...

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Gold futures rose slightly Tuesday, extending a climb above a two-week peak for bullion as U.S. stocks traded near all-time highs on the session. August gold trading on Comex added $1.80, or about 0.1%, to $1,415.40 an ounce. On Monday, the yellow metal booked its highest most-active contract settlement since July 3, which saw a finish at $1,420.90”the highest since May 2013, FactSet data show. September silver meanwhile, picked up 5 cents, or 0.4%, to $15.42 an ounce. Gains for precious...

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Wall St., Main St. Look For Gold Prices To Tick Higher
Monday, 8 April 2019 12:06 WIB | GOLD CORNER |Gold OutlookGold Corner

The biggest voting blocs on Wall Street and Main Street look for gold prices to rise over the this week, according to the weekly Kitco News gold survey.

Thirteen market professionals took part in the Wall Street survey. Seven participants, or 54%, described themselves as bullish for the this week. There were three voters each, or 23%, for both bearish and sideways.

Meanwhile, 534 respondents took part in an online Main Street poll. A total of 239 voters, or 45%, called for gold to rise. Another 191, or 36%, predicted gold would fall. The remaining 104 voters, or 19%, saw a sideways market.

In the last survey, Wall Street and Main Street were both bullish on gold for the last week. As of 11 a.m. EDT, Comex June gold futures were trading 0.2% lower for the week so far at $1,295.90 an ounce. So far in 2019, both Wall Street and Main Street are 7-5 in the weekly poll for a winning percentage of 58%.

"Gold should be up," said Phil Flynn, senior market analyst with Price Futures Group. "We held key support this week and we expect that physical demand will pick up."

He pointed out that core inflation remains "calm" and commented that the Federal Reserve probably won't raise interest rates even with a strong U.S. employment number.

Daniel Pavilonis, senior commodities broker with RJO Futures, also looks for gold to bounce from support levels that held around this week's lows.

"This [recent weakness] was a washout and an opportunity to start getting long [establish a bullish position] again," Pavilonis said. "We™re positive now. If we have a strong close today, I think we™ll see a lot of follow-through next week."

Afshin Nabavi, head of trading at trading house MKS (Switzerland) SA, also looks for gold to rise.

"With the geopolitical issues around the world, and the recent test of $1,280s ( yesterday), I can only remain bullish and look for a break above $1,295 and $1,300 level to push the price of the gold to the recent highs of $1,345," Nabavi said.

Charlie Nedoss, senior market strategist with LaSalle Futures Group who correctly predicted that gold would slip two weeks in a row, looks for still another down week. He noted that data still show the economy doing OK.

"I'm still friendly to the dollar," he said, later adding, "That, in turn, will weigh on gold."

Technically, one key will be what June gold does around the 100-day moving average near $1,294.60, Nedoss said. The metal has been below it last week but was hovering nearly right on this as Nedoss spoke. If this fails, the strategist said he does not see "hard support" until the 200-day average of $1,266.50.

Jim Wyckoff, senior technical analyst with Kitco, looks for gold to be "steady and choppy as near-term technicals have turned neutral at best."

Source: Kitco News

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POPULAR NEWS
Gold prices end lower; silver rallies to highest finish since February

Gold ended lower on Tuesday as a rise in U.S. retail sales contributed to a stronger U.S. dollar, pressuring prices for the precious metal. The upbeat retail sales number, however, also lifted prices for silver, brightening the metal™s industrial demand prospects. August gold trading on Comex fell $2.30, or 0.2%, to settle at $1,411.20 an ounce. On Monday, the yellow metal booked its highest most-active contract settlement since July 3, which saw a finish at $1,420.90”the highest since...

Gold Prices Settle at a More Than 6-Year High

Gold futures climbed Wednesday to settle at their highest since May 2013, finding support from weakness in the dollar and expectations that the Federal Reserve will cut key interest rates later this month. "The dollar has eased back a little...allowing buck-denominated gold and silver to break further higher," said Fawad Razaqzada, technical analyst at Forex.com. "As well as a weaker dollar, these precious metals have found support from safe haven flows amid weakness on Wall Street, where...

Gold's uptrend 'remains intact' despite stronger dollar and record-setting stocks

Gold futures rose slightly Tuesday, extending a climb above a two-week peak for bullion as U.S. stocks traded near all-time highs on the session. August gold trading on Comex added $1.80, or about 0.1%, to $1,415.40 an ounce. On Monday, the yellow metal booked its highest most-active contract settlement since July 3, which saw a finish at $1,420.90”the highest since May 2013, FactSet data show. September silver meanwhile, picked up 5 cents, or 0.4%, to $15.42 an ounce. Gains for precious...

Oil Holds Near Lows on Trump Trade Barbs, Easing Iran Tensions

Oil held near its lows after President Donald Trump™s threat of new tariffs on China rekindled fears about global demand, while signs of a thawing in U.S.-Iran tensions eased concerns about the threat to shipping lanes in the Middle East. Futures in New York were steady, after dropping 3.3% on Tuesday. Trump reiterated his warnings about additional tariffs at a cabinet meeting Tuesday, after promising to hold off on more duties in a trade-war truce he reached with...

Oil Prices End Lower as U.S. Crude Supplies Fall Less Than Expected And Product Stocks Climb

Oil futures ended with a loss on Wednesday, with U.S. prices at their lowest in about two weeks, as U.S. crude supplies posted a smaller-than-expected weekly decline and stockpiles of gasoline and distillates saw sizable gains. August West Texas Intermediate oil lost 84 cents, or 1.5%, to settle at $56.78 a barrel on the New York Mercantile Exchange. That was the lowest front-month contract finish since July 2, according to FactSet data. Source : Marketwatch

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