DJIA
Last loading.. Chg. loading..
FTSE
Last loading.. Chg. loading..
NDXI
Last loading.. Chg. loading..
POPULAR NEWS
Dow's Rise Toward Record High Capped by Roughly 85-Point Drag From Boeing's Stock

U.S. stock benchmarks edged higher Monday, amid optimism over tariff talks and better-than-expected corporate earnings, but a decline in shares of Boeing was capping gains in the blue-chip Dow index. The Dow Jones Industrial Average edged 20 points, or less than 0.1%, higher at 26,790. Boeing Co.™s stock extended its decline to a two-month low, down 3.6%, following a report on Friday that said the company may have misled federal aviation authorities about the safety of the 737 Max jet. The...

Silver Prices Finish Higher as Gold Posts Back-to-Back Declines

Silver futures finished higher on Monday, taking advantage of a rise in appetite for riskier assets while gold posted back-to-back declines as traders kept watch on Britain™s circuitous effort to leave the European Union and awaited developments in the U.S.-China trade fight. December silver rose 2.4 cents, or 0.1%, to settle at $17.602 an ounce after trading as high as $17.895 during the session. Gold for December delivery on Comex meanwhile, ended $6, or 0.4%, lower at $1,488.10 an...

Silver prices rally 1.6% -- leaving gold in the dust

Silver futures rallied Monday, taking advantage of a rise in appetite for riskier assets while gold edged slightly higher as traders kept watch on Britain's circuitous effort to leave the European Union and awaited developments in the U.S.-China trade fight. December silver jumped 28 cents, or 1.6%, to $17.850 an ounce. Gold for December delivery on Comex meanwhile, traded $3.90, or 0.3%, higher at $1,498 an ounce. In other metals trade, January platinum was up 0.4% at $899.70 an ounce,...

Gold Prices Flat; Traders Looking for Next Catalyst

Gold is flat in early Asian trade. Traders are most likely looking for the next catalyst that will lift gold prices, AxiTrader says. Meanwhile, gold is likely to remain supported by recent weak global economic data and risks related to U.S.-China trade tensions in the near term, it says. Spot gold is flat at $1,490.57/oz. Source : Bloomberg

US futures point to slightly higher open

U.S. stock index futures were slightly higher Monday morning. At around 04:25 a.m. ET, Dow futures rose 50 points, indicating a positive open of more than 76 points. Futures on the S&P and Nasdaq were both slightly higher. The moves in pre-market trade come as investors continue to closely monitor global trade developments. On Friday, Chinese Vice Premier Liu He said Beijing would work with the U.S. to address one another's trade concerns. China™s chief negotiator in the trade talks...

Home

There Are No Bears On Wall St.; Main St. Also Sees Higher Prices
Monday, 3 June 2019 11:53 WIB | GOLD CORNER |Gold OutlookGold Corner

Wall Street and Main Street look for gold to maintain its newfound upward momentum in this week, based on the weekly Kitco News gold survey.

After two weeks before winds down, gold is getting a lift as equities slide more than 1% across the board. The most recent downdraft in the equity market was triggered by tweets from President Donald Trump, threatening Mexico with tariffs due to the immigration issue.

Fifteen market professionals took part in the Wall Street survey. A total of 11 voters, or 73%, called for gold to rise. Nobody cast a vote for lower, while four voters, or 27%, predicted a sideways market or were neutral.

Meanwhile, 448 respondents took part in an online Main Street poll. A total of 242 voters, or 54%, called for gold to rise. Another 123, or 27%, predicted gold would fall. The remaining 83 voters, or 19%, saw a sideways market.

In the last survey, Main Street and Wall Street were both bullish. As of 11:21 a.m. EDT last week, they were right, with Comex August gold futures were trading up 1.3% for the week so far at $1,305.60 an ounce.

Phil Flynn, senior market analyst with at Price Futures Group, sees gold benefitting further from some of the same factors boosting the metal.

"New tariff threats and tweets has risk aversion coming back and is going to support gold this week," Flynn said.

Colin Cieszynski, chief market strategist, at SIA Wealth Management, also said he is bullish on gold due to geopolitical uncertainty after U.S. President Donald Trump threatened Mexico with a 5% tariffs on imported goods.

"A few weeks ago, we thought the new free-trade agreement was settled and then the president blows it up with one tweet," Cieszynski said. "The latest tariff news shows that nothing with this government is settled, and that underscores the uncertainty in financial markets. The gold market will do well in this uncertain environment."

Adrian Day, chairman and chief executive officer of Adrian Day Asset Management, figures gold may get a bid from political developments.

"Although the dollar remains high as U.S. growth and U.S. interest rates are higher than most other major economies, there is a gathering storm in Washington as more Democrats, in the House and among those running for president, voice support for impeachment," Day said.

Peter Hug, trading director with Kitco Metals, is also upbeat on the precious metal.

"Short-term movements are vagaries in the market," Hug said. "A break above the $1,302 level should see further upside in the immediate term. The escalation of the U.S. tariff war, now to include Mexico, we see as a direct tax on American consumers, which should begin to slow demand and decelerate growth in the U.S.

"The U.S. equity market is extremely vulnerable and the Fed may lower rates as early as June, which should begin to negatively affect the dollar. As such, we maintain a constructive outlook on the gold price and suspect the low for 2019 may be in."

Bill Baruch, president of Blue Line Futures, said the environment is constructive for gold as the U.S. dollar index struggles around 98 and 10-year Treasury notes are near a two-year low. However, he added that investors should still remain cautious and not chase the market at current levels.

Darin Newsom, an independent technical analyst, also sees gold rising.

"The secondary (intermediate-term) uptrend in August gold continues to strengthen, with initial resistance at its four-week high of $1,310.10," he said. "Beyond that, the target is near $1,317.40, a price that marks the 50% retracement of the previous secondary downtrend from $1,361.50 through the low of $1.273.10."

Jim Wyckoff, senior technical analyst with Kitco, said "bulls now have technical momentum."

Mark Leibovit, editor of the VR Gold Letter, said he is neutral, waiting for confirmation of a seasonal low.

Source: Kitco News

RELATED NEWS
Gold Prices Gridlocked, Bears Take Wheel...
Monday, 21 October 2019 13:10 WIB

Although Wall Street bears have an advantage, ultimately, gridlock in the gold market means prices are not going anywhere fast, according to the latest results from the Kitco News Weekly Gold Survey. ...

Gold prices to return to $1,500 levels soon - analysts...
Monday, 14 October 2019 11:29 WIB

Even though gold was getting beaten up last Friday, analysts were still optimistic that the precious metal was going to return to its key $1,500 level soon. Gold fell more than 1% on Friday (10/11/19...

Don't go quietly into that good night: Wall Street, Main Street bullish on gold prices...
Monday, 7 October 2019 13:14 WIB

Gold bulls are keeping the drive alive as both Wall Street analysts and Main Street investors remain firmly bullish on the yellow metal as the price has managed to regain the $1,500 level heading into...

Wall Street neutral on gold price, Main Street optimism hits 3-month low...
Monday, 30 September 2019 15:22 WIB

The sidelines in the gold market are getting a little crowded with Wall Street analysts projecting range-bound trading despite rising volatility in the near-term. Meanwhile, Main Street investors rem...

Gold to keep bullish trend this week: ECB, U.S. data in focus...
Monday, 9 September 2019 11:35 WIB

After a very volatile session, gold is closing with a second straight week of losses last Friday while analysts remain bullish but slightly more cautious for this week. Seeing gold hit new fresh six-...

POPULAR NEWS
Dow's Rise Toward Record High Capped by Roughly 85-Point Drag From Boeing's Stock

U.S. stock benchmarks edged higher Monday, amid optimism over tariff talks and better-than-expected corporate earnings, but a decline in shares of Boeing was capping gains in the blue-chip Dow index. The Dow Jones Industrial Average edged 20 points, or less than 0.1%, higher at 26,790. Boeing Co.™s stock extended its decline to a two-month low, down 3.6%, following a report on Friday that said the company may have misled federal aviation authorities about the safety of the 737 Max jet. The...

Silver Prices Finish Higher as Gold Posts Back-to-Back Declines

Silver futures finished higher on Monday, taking advantage of a rise in appetite for riskier assets while gold posted back-to-back declines as traders kept watch on Britain™s circuitous effort to leave the European Union and awaited developments in the U.S.-China trade fight. December silver rose 2.4 cents, or 0.1%, to settle at $17.602 an ounce after trading as high as $17.895 during the session. Gold for December delivery on Comex meanwhile, ended $6, or 0.4%, lower at $1,488.10 an...

Silver prices rally 1.6% -- leaving gold in the dust

Silver futures rallied Monday, taking advantage of a rise in appetite for riskier assets while gold edged slightly higher as traders kept watch on Britain's circuitous effort to leave the European Union and awaited developments in the U.S.-China trade fight. December silver jumped 28 cents, or 1.6%, to $17.850 an ounce. Gold for December delivery on Comex meanwhile, traded $3.90, or 0.3%, higher at $1,498 an ounce. In other metals trade, January platinum was up 0.4% at $899.70 an ounce,...

Gold Prices Flat; Traders Looking for Next Catalyst

Gold is flat in early Asian trade. Traders are most likely looking for the next catalyst that will lift gold prices, AxiTrader says. Meanwhile, gold is likely to remain supported by recent weak global economic data and risks related to U.S.-China trade tensions in the near term, it says. Spot gold is flat at $1,490.57/oz. Source : Bloomberg

US futures point to slightly higher open

U.S. stock index futures were slightly higher Monday morning. At around 04:25 a.m. ET, Dow futures rose 50 points, indicating a positive open of more than 76 points. Futures on the S&P and Nasdaq were both slightly higher. The moves in pre-market trade come as investors continue to closely monitor global trade developments. On Friday, Chinese Vice Premier Liu He said Beijing would work with the U.S. to address one another's trade concerns. China™s chief negotiator in the trade talks...

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.