Gold nudges down as strong US data boosts rate rise view

Gold prices inched down on Thursday as robust U.S. data potentially bolstered the chances of multiple U.S. interest rate hikes over the next year, but a weaker dollar curbed losses. The marginal decline came even as Wall Street suffered its worst drubbing in eight months. “Rising interest rates is not good news for gold. Asian share markets, meanwhile, sank on Thursday following steep falls on Wall Street. U.S. President Donald Trump said Wednesday’s stock market sell-off was a long-awaited “cor


Gold prices inched down on Thursday as robust U.S. data potentially bolstered the chances of multiple U.S. interest rate hikes over the next year, but a weaker dollar curbed losses. The marginal decline came even as Wall Street suffered its worst drubbing in eight months. “Rising interest rates is not good news for gold. Asian share markets, meanwhile, sank on Thursday following steep falls on Wall Street. U.S. President Donald Trump said Wednesday’s stock market sell-off was a long-awaited “cor
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Company: cnbc, Activity: cnbc, Date: 2018-10-11
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Gold nudges down as strong US data boosts rate rise view

Gold prices inched down on Thursday as robust U.S. data potentially bolstered the chances of multiple U.S. interest rate hikes over the next year, but a weaker dollar curbed losses.

The marginal decline came even as Wall Street suffered its worst drubbing in eight months.

Spot gold was down 0.2 percent at $1,192.58 an ounce at 0430 GMT.

U.S. gold futures edged up 0.2 percent to $1,195.90 an ounce.

“Rising interest rates is not good news for gold. People are preferring U.S. Treasury bonds as they are more attractive in the current environment over gold, despite the sell-off in equities,” said Ronald Leung, chief dealer, Lee Cheong Gold Dealers, Hong Kong.

Data on U.S. producer prices, which rose in September after declining the previous month, and a revision to wholesale inventory estimates for August, added to a hawkish outlook on interest rates.

“The Fed is expected to raise interest rates in December but we are not sure about the future hikes as we have to see how the trade war will affect the U.S. economy. The upcoming mid-term elections in U.S. will also be very crucial,” Leung said.

The Fed can likely stop raising U.S. interest rates once they reach about 3 percent, as long as inflation remains around 2 percent and the economy is doing well, Chicago Federal Reserve President Charles Evans suggested on Wednesday.

Asian share markets, meanwhile, sank on Thursday following steep falls on Wall Street. U.S. President Donald Trump said Wednesday’s stock market sell-off was a long-awaited “correction,” and the Federal Reserve, which has been raising U.S. interest rates, had gone “crazy”.

“The sentiment that we have seen this morning with the Wall Street and Asian markets tanking is a chance for gold prices to reintroduce as a safe haven again, especially at this time of poor risk appetite,” OCBC analyst Barnabas Gan said.

“That is something investors will be looking at very closely if the dollar falls further.”

The dollar index, which measures the greenback against a basket of six major currencies, was down 0.3 percent.

Spot gold may break a resistance at $1,195 per ounce and edge up to the next resistance at $1,200, as it has temporarily bottomed around a support at $1,182, according to Reuters technical analyst Wang Tao.

Holdings in SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, rose 1.21 percent to 738.99 tonnes on Wednesday, for its first gains since July.

Meanwhile, spot silver was flat at $14.26 an ounce and palladium was little changed at $1,067.24. Platinum slipped 0.9 percent to $811.49 an ounce.


Company: cnbc, Activity: cnbc, Date: 2018-10-11
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Gold nudges up amid looming U.S. tariffs on China

Gold inched up on Monday as bargain-hunters bought the metal after prices dipped in the previous session, amid reports that the United States is set to impose a new round of tariffs on Chinese imports. “The price action shows that the influence of the news coming out on tariffs is waning a little bit,” said Ji Ming, chief analyst at Shandong Gold Group. “We even see gold rising rapidly towards $1,230-$1,240 levels once the impact of the trade war is clearer … Gold prices have declined about 12


Gold inched up on Monday as bargain-hunters bought the metal after prices dipped in the previous session, amid reports that the United States is set to impose a new round of tariffs on Chinese imports. “The price action shows that the influence of the news coming out on tariffs is waning a little bit,” said Ji Ming, chief analyst at Shandong Gold Group. “We even see gold rising rapidly towards $1,230-$1,240 levels once the impact of the trade war is clearer … Gold prices have declined about 12
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Gold nudges up amid looming U.S. tariffs on China

Gold inched up on Monday as bargain-hunters bought the metal after prices dipped in the previous session, amid reports that the United States is set to impose a new round of tariffs on Chinese imports.

Spot gold was up 0.2 percent at $1,195.27 an ounce as of 0354 GMT, after falling 0.6 percent on Friday when it marked its third straight weekly decline.

U.S. gold futures were down 0.1 percent at $1,199.80.

U.S. President Donald Trump is likely to announce new tariffs on about $200 billion on Chinese imports as early as Monday, a senior administration official told Reuters.

“The price action shows that the influence of the news coming out on tariffs is waning a little bit,” said Ji Ming, chief analyst at Shandong Gold Group.

“We even see gold rising rapidly towards $1,230-$1,240 levels once the impact of the trade war is clearer … It looks like a relatively good opportunity to buy gold at the current levels.”

Gold prices have declined about 12.6 percent from April amid intensifying global trade tensions and under pressure from rising U.S. interest rates.

Though gold is generally presumed to be a safe-haven asset, the months-long trade rift between Washington and Beijing has prompted investors to opt for the U.S. dollar in the belief that the United States has less to lose from the dispute.

The dollar index was steady at 94.951, having bounced from over six-week lows of 94.359 hit last week.

“We have to suspect that the dollar will regain upside momentum, especially if the trade environment takes a turn for the worst just ahead of the Fed’s month-end meeting,” INTL FCStone analyst Edward Meir said in a note.

“Although investors are expecting yet another quarter-point rate increase, the concern is that a change in policy wording could make a more definitive case for future rate hikes,” he said adding, in such an environment, gold will have trouble moving higher and could instead start another leg down.

Meanwhile, investors trimmed their net short position in Comex gold and silver in the week to Sept. 11, a U.S. data showed.

Spot gold may retest a support at $1,193 per ounce, after bouncing moderately into a range of $1,197-$1,200, according to Reuters technical analyst Wang Tao.

Among other precious metals, spot silver was up 0.3 percent at $14.08.

Platinum rose 0.3 percent to $793.90, while palladium rose 0.1 percent to $978.50.


Company: cnbc, Activity: cnbc, Date: 2018-09-17
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Gold nudges up as dollar eases; Sino-U.S. trade tensions in focus

Spot gold rose 0.2 percent to $1,193.31 at 0355 GMT, after touching a more than one-week low at $1,189.20 on Tuesday. “We are in a situation where it is completely a dollar driven trade. Until we get a convincing breakout (in gold)… the markets are going to be reticent,” said Stephen Innes, Asia-Pacific trading head at OANDA. Gold is highly sensitive to rising rates, which lift the opportunity cost of holding non-yielding assets such as bullion. The bearish sentiment in gold has reflected in h


Spot gold rose 0.2 percent to $1,193.31 at 0355 GMT, after touching a more than one-week low at $1,189.20 on Tuesday. “We are in a situation where it is completely a dollar driven trade. Until we get a convincing breakout (in gold)… the markets are going to be reticent,” said Stephen Innes, Asia-Pacific trading head at OANDA. Gold is highly sensitive to rising rates, which lift the opportunity cost of holding non-yielding assets such as bullion. The bearish sentiment in gold has reflected in h
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Company: cnbc, Activity: cnbc, Date: 2018-09-05
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Gold nudges up as dollar eases; Sino-U.S. trade tensions in focus

Gold edged up on Wednesday, after slipping to a more than one-week low in the previous session, as the dollar eased despite concerns of an escalation in the trade conflict between the United States and China.

Spot gold rose 0.2 percent to $1,193.31 at 0355 GMT, after touching a more than one-week low at $1,189.20 on Tuesday.

U.S. gold futures were up 0.1 percent at $1,199.70 an ounce.

“We are in a situation where it is completely a dollar driven trade. Until we get a convincing breakout (in gold)… the markets are going to be reticent,” said Stephen Innes, Asia-Pacific trading head at OANDA.

“The U.S. dollar can actually see a bit a reversal on the fact that we are not seeing a big wave of panic as there hasn’t been any significant impact on U.S. equity markets,” he said, adding gold prices would hover around $1,190-$1,210 range in the short term.

A stronger greenback makes dollar-priced gold costlier for non-U.S. investors.

Fears of a hit to global growth from U.S. President Donald Trump’s ‘America First’ protectionist policies have kept markets in a state of heightened anxiety for much of this year.

Trump could follow through on plans to impose levies on $200 billion more of Chinese imports after a public comment period on his proposed new tariffs on Chinese goods is set to end on Thursday.

Meanwhile, markets are closely watching an employment report on Friday, which could influence gold’s moves as investors look for clues on the pace of U.S. interest rate increases.

Gold is highly sensitive to rising rates, which lift the opportunity cost of holding non-yielding assets such as bullion.

The yellow metal has lost about 8.4 percent this year amid rising U.S. interest rates, trade disputes and the Turkish currency crisis, with investors parking their money in the dollar, undermining the metal’s safe haven status.

The bearish sentiment in gold has reflected in heavy liquidations in SPDR Gold, the world’s largest gold-backed exchange-traded fund. Holdings have fallen 14.2 percent since a peak in late April, and 1.1 percent to 746.92 tonnes on Tuesday.

Spot gold may break a support at $1,190 per ounce and fall towards $1,179, as suggested by its wave pattern, a projection analysis and a falling channel, according to Reuters technical analyst Wang Tao.

Spot silver was up 0.1 percent at $14.10, after falling to the lowest since January 2016 at $13.97 on Tuesday.

Platinum rose 0.3 percent to $778.60. Prices touched their lowest since Aug. 16 at $761.80 in the prior session.

Palladium was up 0.3 percent at $982.75, after touching a 11-week peak at $988.47 on Tuesday.


Company: cnbc, Activity: cnbc, Date: 2018-09-05
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WPP’s new boss nudges net sales outlook higher

WPP nudged its full-year net sales outlook higher on Tuesday after it reported a 0.3 percent rise in the first half helped by demand in Europe, as its new boss said he would lay out his new strategy by the end of the year. The group’s operating margin slipped however, down 0.4 points, and it is likely to stay at a similar level for the full year as it restructures. The world’s biggest advertising company, under new boss Mark Read who was appointed on Monday, said it now expected growth in full-y


WPP nudged its full-year net sales outlook higher on Tuesday after it reported a 0.3 percent rise in the first half helped by demand in Europe, as its new boss said he would lay out his new strategy by the end of the year. The group’s operating margin slipped however, down 0.4 points, and it is likely to stay at a similar level for the full year as it restructures. The world’s biggest advertising company, under new boss Mark Read who was appointed on Monday, said it now expected growth in full-y
WPP’s new boss nudges net sales outlook higher Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-04  Authors: aidan crawley, bloomberg, getty images
Keywords: news, cnbc, companies, boss, fullyear, outlook, sales, nudges, similar, growth, wpp, half, higher, net, yearthe, level, wpps


WPP's new boss nudges net sales outlook higher

WPP nudged its full-year net sales outlook higher on Tuesday after it reported a 0.3 percent rise in the first half helped by demand in Europe, as its new boss said he would lay out his new strategy by the end of the year.

The group’s operating margin slipped however, down 0.4 points, and it is likely to stay at a similar level for the full year as it restructures.

The world’s biggest advertising company, under new boss Mark Read who was appointed on Monday, said it now expected growth in full-year net sales to come in at a similar level to the first half, ahead of its previous prediction of no growth at all.


Company: cnbc, Activity: cnbc, Date: 2018-09-04  Authors: aidan crawley, bloomberg, getty images
Keywords: news, cnbc, companies, boss, fullyear, outlook, sales, nudges, similar, growth, wpp, half, higher, net, yearthe, level, wpps


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Euro nudges higher as US-China trade talks calm market nerves

The euro has been under pressure in recent weeks on worries about euro zone bank exposure to Turkey after the lira crashed this month. Concerns that Italy’s governing parties will agree a budget with high public spending have also weighed on the single currency. “Considering that European banks’ exposure to Turkey is relatively limited, this week’s reaction by the euro looked overdone. China and the United States agreed on Thursday to hold a new round of trade talks on Aug. 21-22, supporting the


The euro has been under pressure in recent weeks on worries about euro zone bank exposure to Turkey after the lira crashed this month. Concerns that Italy’s governing parties will agree a budget with high public spending have also weighed on the single currency. “Considering that European banks’ exposure to Turkey is relatively limited, this week’s reaction by the euro looked overdone. China and the United States agreed on Thursday to hold a new round of trade talks on Aug. 21-22, supporting the
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Company: cnbc, Activity: cnbc, Date: 2018-08-17  Authors: dan kitwood, getty images
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Euro nudges higher as US-China trade talks calm market nerves

The euro rose for a second day in a row on Friday as hopes that next week’s talks between the United States and China will ease trade tensions between the two pushed the dollar lower.

The Turkish lira’s continued recovery helped some emerging market currencies, although the Chinese yuan slipped slightly after Thursday’s big rise, underlining investor nervousness about volatility in developing markets.

The euro has been under pressure in recent weeks on worries about euro zone bank exposure to Turkey after the lira crashed this month. Concerns that Italy’s governing parties will agree a budget with high public spending have also weighed on the single currency.

The dollar has benefited as investors rush towards safety.

Alvin Tan, FX strategist at Societe Generale, said Friday’s moves were more to do with dollar weakness as investors show greater appetite for taking on risk than euro strength.

“Volatility seems to have fizzled out in the last 24 hours and the stability in the remninbi has helped emerging market currencies,” he said.

The euro ticked 0.27 percent higher to $1.1406 while the dollar index — a measure of the dollar against a basket of major currencies — fell 0.35 percent to 96.30.

Still, analysts saw limits to any euro rebound.

“Considering that European banks’ exposure to Turkey is relatively limited, this week’s reaction by the euro looked overdone. But the rise in Italian bond yields amid the country’s fiscal concerns may continue indefinitely and limit the bounce by the euro,” said Masafumi Yamamoto, chief forex strategist at Mizuho Securities.

The Japanese yen, up 0.45 percent to 110.38, and sterling also capitalized on the greenback’s weakness to move higher.

China and the United States agreed on Thursday to hold a new round of trade talks on Aug. 21-22, supporting the yuan.

The Chinese currency’s slide in recent months, partly on the back of concerns about what a full-blown trade war with the U.S. would do to China’s economy, has rattled investors.

After a recovery on Thursday, the yuan in offshore markets slipped 0.06 percent to 6.8751, still far below its 2018 lows of 6.9587.

The Turkish lira fell 5.35 percent to 6.1411 per dollar as sentiment improved. The closure of Turkish financial markets for a string of national holidays during Aug. 21-24 also provided some respite.

The lira plunged to a record low of 7.24 on Monday before mounting a three-day rebound, helped by factors including measures by the Turkish central bank to support its currency and Qatar’s pledge to invest $15 billion in Turkey.

However, there are still concerns over Turkish President Tayyip Erdogan’s policies to combat the country’s double-digit inflation and his row with Washington over detained American pastor Andrew Brunson.

The Australian dollar rose 0.29 percent to $0.7281, gaining for a second day, although momentum was lost after Reserve Bank of Australia Governor Philip Lowe said interest rates would stay at record lows “for a while yet”.


Company: cnbc, Activity: cnbc, Date: 2018-08-17  Authors: dan kitwood, getty images
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Gold nudges up but on track for worst month since Nov. 2016

Gold prices edged up early Friday after slipping to a more than six-month low in the previous session, as the dollar softened from recent highs, but the yellow metal was headed for its worst monthly performance since November 2016. Spot gold was up 0.1 percent at $1,248.64 an ounce, as of 0053 GMT. Bullion was on track for its third straight weekly decline, having slipped 1.6 percent thus far and was down about 3.8 percent for the month. U.S. gold futures were 0.1 percent lower at $1,249.90 an o


Gold prices edged up early Friday after slipping to a more than six-month low in the previous session, as the dollar softened from recent highs, but the yellow metal was headed for its worst monthly performance since November 2016. Spot gold was up 0.1 percent at $1,248.64 an ounce, as of 0053 GMT. Bullion was on track for its third straight weekly decline, having slipped 1.6 percent thus far and was down about 3.8 percent for the month. U.S. gold futures were 0.1 percent lower at $1,249.90 an o
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Gold nudges up but on track for worst month since Nov. 2016

Gold prices edged up early Friday after slipping to a more than six-month low in the previous session, as the dollar softened from recent highs, but the yellow metal was headed for its worst monthly performance since November 2016.

Spot gold was up 0.1 percent at $1,248.64 an ounce, as of 0053 GMT. It touched its weakest since Dec. 13 at $1,245.32 on Thursday.

Bullion was on track for its third straight weekly decline, having slipped 1.6 percent thus far and was down about 3.8 percent for the month. It was also heading towards its worst quarterly loss since end-2016.

U.S. gold futures were 0.1 percent lower at $1,249.90 an ounce.

The dollar index, which measures the greenback against a basket of six currencies, inched down 0.1 percent at 95.264. It hit a near one-year high at 95.531 on Thursday.

The U.S. economy slowed more than previously estimated in the first quarter amid the weakest consumer spending in nearly five years, but growth appears to have since regained momentum on the back of a robust labor market and tax cuts.


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Facebook says it gave ‘nudges’ to children to get them to communicate using Messenger Kids

Facebook says getting children to communicate on its Messenger Kids app took nudging, even though experts they consulted for the product say kids are ready to use such mobile software. The National PTA is among a group of organizations Facebook cited in support of Messenger Kids that also received funding from the company. It allows parents to control who their kids communicate with using the app. We worked to create Messenger Kids with an advisory committee of parenting and developmental expert


Facebook says getting children to communicate on its Messenger Kids app took nudging, even though experts they consulted for the product say kids are ready to use such mobile software. The National PTA is among a group of organizations Facebook cited in support of Messenger Kids that also received funding from the company. It allows parents to control who their kids communicate with using the app. We worked to create Messenger Kids with an advisory committee of parenting and developmental expert
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Company: cnbc, Activity: cnbc, Date: 2018-03-01  Authors: john shinal, getty images
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Facebook says it gave 'nudges' to children to get them to communicate using Messenger Kids

Facebook says getting children to communicate on its Messenger Kids app took nudging, even though experts they consulted for the product say kids are ready to use such mobile software.

When Facebook was testing Messenger Kids before rolling it out in December, the company found “It was hard for kids to initiate the communication,” said Tarunya Govindarajan, the manager who built the product, to an audience gathered in Washington for the company’s Global Safety Network Summit. “We wanted to give them nudges to start the conversation,” she said.

So along with a visual chat feature and video content, Facebook built “kid-friendly effects” into the product, including augmented-reality photo filters like “stickers, masks and frames” to encourage kids to use it, Govindarajan said Thursday.

That suggests many children within that age group are not as ready to use mobile communications software as some have argued.

For example, Sean Arthurs, senior manager of education initiatives for the ‎National Parent Teacher Association, said at the same event that the group’s research found 80 percent of children ages eight to 13 were using mobile communication devices.

“Ninety percent of kids have access to a phone or tablet and two-thirds have their own device,” Arthurs, calling the results of the group’s survey of 1200 parents “consistent with other research” about kids’ usage habits.

The National PTA is among a group of organizations Facebook cited in support of Messenger Kids that also received funding from the company.

Facebook introduced the mobile application for iPhone and iPad users in December and an Android version is now available in the Google Play Store.

There’s no advertising in the product and it does not require users to open a Facebook account. It allows parents to control who their kids communicate with using the app.

Yet a group of child-advocacy groups in January asked the company to discontinue it, citing multiple studies showing that heavy social media use had negative mental health effects on teens and adolescents.

When CNBC asked Facebook last month if it planned to continue the product, the company replied in an email that read in part:

“Since we launched in December we’ve heard from parents around the country that Messenger Kids has helped them stay in touch with their children and has enabled their children to video chat with fun masks. We worked to create Messenger Kids with an advisory committee of parenting and developmental experts, as well as with families themselves and in partnership with National PTA. We continue to be focused on making Messenger Kids be the best experience it can be for families.”


Company: cnbc, Activity: cnbc, Date: 2018-03-01  Authors: john shinal, getty images
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Gold nudges up as dollar eases; palladium holds near multi-year peaks

Gold prices edged higher on Thursday, after marking a near three-week high in the previous session, as the dollar eased while palladium remained close to a more than 16-year peak touched on Wednesday. Spot gold rose 0.2 percent at $1,283.81 per ounce at 0523 GMT. On Wednesday, it rose 0.4 percent and touched its highest since Oct. 20 at $1,287.13 an ounce. U.S. gold futures for December delivery gained 0.1 percent at $1,284.90. The U.S. dollar versus a basket of currencies edged 0.1 percent lowe


Gold prices edged higher on Thursday, after marking a near three-week high in the previous session, as the dollar eased while palladium remained close to a more than 16-year peak touched on Wednesday. Spot gold rose 0.2 percent at $1,283.81 per ounce at 0523 GMT. On Wednesday, it rose 0.4 percent and touched its highest since Oct. 20 at $1,287.13 an ounce. U.S. gold futures for December delivery gained 0.1 percent at $1,284.90. The U.S. dollar versus a basket of currencies edged 0.1 percent lowe
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Gold nudges up as dollar eases; palladium holds near multi-year peaks

Gold prices edged higher on Thursday, after marking a near three-week high in the previous session, as the dollar eased while palladium remained close to a more than 16-year peak touched on Wednesday.

Spot gold rose 0.2 percent at $1,283.81 per ounce at 0523 GMT. On Wednesday, it rose 0.4 percent and touched its highest since Oct. 20 at $1,287.13 an ounce.

U.S. gold futures for December delivery gained 0.1 percent at $1,284.90.

“Gold has been probably tracking the currency (U.S. dollar) because some of the other drivers which had pushed it to its recent highs have subsided, in particular the geo-politicalrisks and safe haven buying,” said ANZ analyst Daniel Hynes.

“I think they’ll continue to trade around those currency moves.”

The U.S. dollar versus a basket of currencies edged 0.1 percent lower, while its near-term outlook was seen clouded by worries over possible delays to U.S. President Donald Trump’s tax reform plans.

“Although the dollar’s travails have brought a smile to long-suffering bullish gold traders, it is important to note there seems to be an absence of risk aversion premium in gold’s price and that its fate will be decided by the dollar alone,” said Jeffrey Halley, a senior market analyst with OANDA.

A U.S. Senate tax-cut bill, differing from one in the House of Representatives, was expected to be unveiled on Thursday, complicating a Republican tax overhaul push and increasing skepticism on Wall Street about the effort.


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Oil nudges up, hovers below $50 level ahead of OPEC meeting

Despite the drop, U.S. oil stocks, at roughly 490 million barrels, remain well above the five-year average, while U.S. production has increased almost 12 percent since mid-2016 to 9.4 million bpd. An abundance of global crude supplies has put pressure on oil prices and key members of the Organization of the Petroleum Exporting Countries (OPEC) are scheduled to meet non-members in St. Petersburg, Russia, on Monday. OPEC, together with some non-members like Russia, has pledged to reduce the global


Despite the drop, U.S. oil stocks, at roughly 490 million barrels, remain well above the five-year average, while U.S. production has increased almost 12 percent since mid-2016 to 9.4 million bpd. An abundance of global crude supplies has put pressure on oil prices and key members of the Organization of the Petroleum Exporting Countries (OPEC) are scheduled to meet non-members in St. Petersburg, Russia, on Monday. OPEC, together with some non-members like Russia, has pledged to reduce the global
Oil nudges up, hovers below $50 level ahead of OPEC meeting Cached Page below :
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Oil nudges up, hovers below $50 level ahead of OPEC meeting

Despite the drop, U.S. oil stocks, at roughly 490 million barrels, remain well above the five-year average, while U.S. production has increased almost 12 percent since mid-2016 to 9.4 million bpd.

An abundance of global crude supplies has put pressure on oil prices and key members of the Organization of the Petroleum Exporting Countries (OPEC) are scheduled to meet non-members in St. Petersburg, Russia, on Monday.

OPEC, together with some non-members like Russia, has pledged to reduce the global glut with a 1.8 million-barrel per day (bpd) production cut between January this year and March 2018.

The market has been watching reports that the world’s top crude producer,Saudi Arabia, is working with other countries to draw down stocks and reduce supply, particularly as other OPEC members, including Iraq and Libya, are planning increases in output.

“Brent oil still targets $50.35 per barrel,” said Reuters technical commodities analyst Wang Tao.


Company: cnbc, Activity: cnbc, Date: 2017-07-20  Authors: lucy nicholson
Keywords: news, games, cnbc, companies, stocks, members, oil, million, hovers, level, russia, production, nonmembers, global, ahead, nudges, meeting, reduce, 50, opec


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Gold nudges up, but pegged close to 7-week lows

“(Though) not necessarily a strong buy gold signal, it has stopped the fall,” he added. Spot gold rose 0.2 percent to $1,223.08 per ounce at 0417 GMT. U.S. gold futures for August delivery rose 0.3 percent to $1,222.30 an ounce. Expectations of higher bond yields are also weighing on non-yielding bullion keeping it range-bound, Sharma added. U.S. Treasury yields rose on Monday after U.S. manufacturing data boosted expectations that the Federal Reserve would raise interest rates again this year a


“(Though) not necessarily a strong buy gold signal, it has stopped the fall,” he added. Spot gold rose 0.2 percent to $1,223.08 per ounce at 0417 GMT. U.S. gold futures for August delivery rose 0.3 percent to $1,222.30 an ounce. Expectations of higher bond yields are also weighing on non-yielding bullion keeping it range-bound, Sharma added. U.S. Treasury yields rose on Monday after U.S. manufacturing data boosted expectations that the Federal Reserve would raise interest rates again this year a
Gold nudges up, but pegged close to 7-week lows Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-07-03
Keywords: news, games, cnbc, companies, ounce, policy, lows, sharma, trade, 7week, leaders, weighing, pegged, week, close, gold, yields, rose, nudges


Gold nudges up, but pegged close to 7-week lows

“The North Korean missile launches are becoming second nature and the market look through them, but some jitters remain on escalation,” said Stephen Innes, head of trading APAC, OANDA in Singapore.

“(Though) not necessarily a strong buy gold signal, it has stopped the fall,” he added.

Spot gold rose 0.2 percent to $1,223.08 per ounce at 0417 GMT. On Monday, it fell 1.7 percent, its biggest one-day percentage loss since November, to touch a low of $1,218.31 an ounce, its weakest since May 11.

U.S. gold futures for August delivery rose 0.3 percent to $1,222.30 an ounce.

Potential for any sort of disagreement on trade, investment,and security between U.S. President Donald Trump and other European leaders is also providing some geo-political support for gold, NAB analyst John Sharma said.

Trump discussed hot-button issues like climate change, trade and migration in calls with German and Italian leaders on Monday, before a summit this week of the G20 leading economies that could expose sharp policy differences.

Expectations of higher bond yields are also weighing on non-yielding bullion keeping it range-bound, Sharma added.

U.S. Treasury yields rose on Monday after U.S. manufacturing data boosted expectations that the Federal Reserve would raise interest rates again this year as other central banks shift toward tighter monetary policy.


Company: cnbc, Activity: cnbc, Date: 2017-07-03
Keywords: news, games, cnbc, companies, ounce, policy, lows, sharma, trade, 7week, leaders, weighing, pegged, week, close, gold, yields, rose, nudges


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