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Gold prices end higher as U.S. jobless claims jump to a record

by editor on 2020-03-26 19:30:05 | 0 comments

Gold prices ended higher Thursday, finding support as the U.S. dollar weakened, after a jump in U.S. jobless claims to a weekly record, with the data providing a grim insight into the impact of the coronavirus outbreak in the world’s largest economy. “Gold will resume its role as a favored safe-haven as traders begin to try to model how bad the global economy will get and knowing that governments and central banks are doing everything they can,” said Edward Moya, senior market analyst at Oanda...

Gold scores biggest daily dollar gain on record

by editor on 2020-03-23 19:25:30 | 0 comments

Gold futures rallied on Monday to post the largest daily dollar gain on record, with bullion up a third straight session after the Federal Reserve unveiled a major stimulus package that includes unlimited purchases of Treasurys and mortgage-backed securities. Gold had initially gained ground as global stocks traded lower on continued worries over the tremendous economic hit expected from the global COVID-10 pandemic. Gold moved even higher as U.S. benchmark stock indexes dropped in the wake of the Fed move...

Gold settles at lowest since December; silver markets lowest settlement in over a decade

by editor on 2020-03-16 18:33:51 | 0 comments

Gold futures fell Monday to settle at their lowest since December, and silver futures finished at their worst level in over a decade, as the Federal Reserve’s emergency decision to slash interest rates failed to stem losses in the stock market, sending traders scrambling for cash. Prices for the precious metals, however, managed to significantly cut their losses by the settlement, as short covering kicked in. Gold had dropped more than 4% to hit the day’s low, and silver dropped by as much as 19%...

Gold ends lower as global stocks climb, but falling bond yields underpin the metal

by editor on 2020-03-04 20:42:19 | 0 comments

Gold futures ended lower on Wednesday, pressured as global equities rallied, dulling their haven appeal. U.S. government bond yields, however, remained mostly under pressure in the wake of an emergency interest rate cut a day earlier by the Federal Reserve, limiting losses for the precious metal. Global equity markets tracked higher so it is “not surprising” to see gold trading back from its early high, analysts at Zaner Metals wrote in a daily note. “Certainly the sharp bounce in equities is a slight negative for gold…but keep in mind gold recently has been behaving like a physical commodity in need of assurance that physical demand won’t be cut sharply by the virus...

Gold retreats from a more than 6-year high as traders assess China virus outbreak

by editor on 2020-01-28 19:15:43 | 0 comments

Gold futures ended with a loss on Tuesday, as investor worries over the spread of China’s coronavirus abated somewhat and prices consolidated, a day after prices rose to a more than six-year high. Some upbeat economic data also put pressure on haven demand for gold. The U.S. consumer confidence index climbed to a five-month high of 131.6 in January from a revised 128.2 in the prior month. Earlier, separate data showed orders for durable goods surged 2.4% in December, thanks to military purchases, while business investment in the civilian part of the economy declined again...

Gold prices finish lower as some upbeat economic data dull haven demand

by editor on 2020-01-16 21:23:03 | 0 comments

Gold futures gave up earlier gains to finish lower on Thursday, as some upbeat U.S. economic data dulled haven demand for the precious metal. Prices also declined on the back of further gains in U.S. benchmark stock indexes, which followed the completion Wednesday of the first stage in a trade pact between the U.S. and China and the Senate approval of the U.S.-Mexico-Canada trade agreement on Thursday. “Gold prices gave up their earlier gains following a wrath of positive US economic data,” said Edward Moya, senior market analyst at Oanda, in a market update...

Gold futures stretch their gains to a 10th session

by editor on 2020-01-07 18:53:44 | 0 comments

Gold futures climbed Tuesday to stretch their gains into a tenth consecutive session, marking their highest finish since April 2013. "The latest spike in gold prices is being driven by the sudden escalation in US-Iran tensions, which is hitting world stock markets and leading investors to seek shelter," said Adrian Ash, director of research at BullionVault. However, "underlying demand for gold had already turned higher in 2019, most especially among investors in the Eurozone, where negative interest rates are forcing savers and investors to find better homes for their money than bank accounts or debt investments...

Gold prices rise on weaker dollar as traders weigh progress on U.S.-China trade

by editor on 2019-12-13 18:55:56 | 0 comments

Gold prices climbed Friday, buoyed by weakness in the dollar and a fall in bond yields, as traders struggled to sort out news that China has agreed to the text of a phase one trade deal with United States. The U.S. and China have reached an agreement on text of a phase one trade deal and will now move toward signing a deal as quickly as possible, Chinese officials said Friday. The U.S. will scrap tariffs on Chinese goods in phases, Vice Commerce Minister Wang Shouwen said. President Donald Trump said Friday that the U...

Gold heads toward 1-month high as Trump suggests China trade deal could wait till after 2020 election

by editor on 2019-12-03 18:34:25 | 0 comments

Gold futures rose toward their highest finish in nearly a month on Tuesday, finding haven-related buying interest after President Donald Trump said it might be preferable to hold off on completing a long-awaited U.S.-China trade deal until after the November 2020 presidential election. Trump’s comments come ahead of a December 15th deadline for the imposition of fresh import tariffs on China. “Economic uncertainty was sparked following comments from President Trump, which seemed to dash near term hopes of a trade deal with China,” and suggested that “trade negotiations are once again at a serious impasse,” said analysts at Zaner Metals, in a daily note...

Gold gains in quiet trade as concerns about U.S-China trade deal rise

by editor on 2019-11-29 17:28:17 | 0 comments

Gold futures climbed slightly on Friday in light trading after the U.S. Thanksgiving holiday on Thursday, as investors remained concerned about the deterioration of U.S.-China trade relations after a bill supporting Hong Kong protesters was signed by President Trump late on Wednesday. Gold for February delivery GCG20, +0.69%,  the most active contract on Comex, added $4.60, or 0.3% around $1,470.6 an ounce, while March silver SIZ19, +0.22%  was down 0.2% at $17...

Gold recoups some of its recent losses, but holds below $1,500

by editor on 2019-11-07 06:12:52 | 0 comments

Gold futures settled higher Wednesday, a day after the precious metal lost its grip on the psychologically significant $1,500 mark amid gains in stocks, yields and a firmer U.S. dollar — all headwinds for the commodity. On Wednesday, some of those factors moderated somewhat, with bond yields sharply lower and the dollar a bit weaker. Gold prices fell Tuesday “as cascading sell stops from overbought conditions triggered lows to below $1485,” said George Gero, managing director at RBC Wealth Management...

Gold Rallying Steadily

by RoboForex on 2018-01-15 15:54:53 | 0 comments

Gold has been growing up steadily this year. By mid January, the yellow metal is at $1344.30, adding 0.7% to its price. Gold started growing in mid December and is moving ahead quite firmly in the lights of the weakening US dollar. The market does not believe in the greenback and does not pay any attention to the fundamentals. On Friday, the US inflation report came up mixed, with the CPI growth by just 0.1% MoM, as expected. Base inflation did much better, with 0.03% growth MoM, the expectations being at 0...

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