Gold inches higher as dollar dips amid risk aversion

Gold edged higher on Thursday as growing risk aversion weighed on the dollar, while palladium held ground at a premium to the bullion. Spot gold was up 0.2 percent at $1,239.86 per ounce, as of 0429 GMT, while U.S. gold futures were 0.2 percent higher at $1,244.9 per ounce. “Markets are trying to consolidate, trying to push up higher for now,” said Benjamin Lu, a commodities analyst with Phillip Futures. The dollar declined against the safe-haven yen as a spike in risk aversion pressured equitie


Gold edged higher on Thursday as growing risk aversion weighed on the dollar, while palladium held ground at a premium to the bullion. Spot gold was up 0.2 percent at $1,239.86 per ounce, as of 0429 GMT, while U.S. gold futures were 0.2 percent higher at $1,244.9 per ounce. “Markets are trying to consolidate, trying to push up higher for now,” said Benjamin Lu, a commodities analyst with Phillip Futures. The dollar declined against the safe-haven yen as a spike in risk aversion pressured equitie
Gold inches higher as dollar dips amid risk aversion Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-06  Authors: getty images
Keywords: news, cnbc, companies, palladium, dollar, meeting, higher, analyst, dips, yields, hike, gold, rate, aversion, inches, ounce, risk, amid, lu


Gold inches higher as dollar dips amid risk aversion

Gold edged higher on Thursday as growing risk aversion weighed on the dollar, while palladium held ground at a premium to the bullion.

Spot gold was up 0.2 percent at $1,239.86 per ounce, as of 0429 GMT, while U.S. gold futures were 0.2 percent higher at $1,244.9 per ounce.

“Markets are trying to consolidate, trying to push up higher for now,” said Benjamin Lu, a commodities analyst with Phillip Futures.

A balance between a host of factors such as a rate hike by the U.S. Federal Reserve in December, uncertainty about trade tensions between Washington and Beijing, and a flattening yield curve has helped create a premium for the bullion, Lu added.

Fed policymakers will gather at a Dec. 18-19 meeting, at which the central bank is widely expected to raise interest rates.

“Although a rate hike is already priced in, markets will be closely watching the meeting for clues on rate hike timings in 2019,” said Lukman Otunuga, a research analyst at FXTM, adding that: “if the meeting echoes a similar message to (Chairman Jerome) Powell’s dovish shift, gold has the potential to shine into 2019.”

The dollar declined against the safe-haven yen as a spike in risk aversion pressured equities and U.S. Treasury yields. The spread between the two-year and five-year Treasury yields inverted this week and the two-year/10-year spread was at its flattest in more than a decade amid a sharp fall in long-term rates.

“An yield curve inversion indicates higher borrowing cost in short term, so for safe-haven assets in the longer run it’s going to be very positive,” Phillip Futures’ Lu said.

Spot gold may test a resistance at $1,245 per ounce, a break above which could lead to a gain into a range of $1,253-$1,258, according to Reuters technical analyst Wang Tao.

Meanwhile, palladium continued to be more valuable than gold after outshining the yellow metal for the first time since 2002 on Wednesday, with prices soaring by around 50 percent in less than four months to record levels.

Spot palladium rose 0.1 percent to $1,245.00 per ounce, hovering near its record high hit in the previous session.

The market now awaits Friday’s U.S. non-farm payrolls data for November, which is expected to show unemployment remains at 3.7 percent.

“Investors are seen adopting a cautious stance ahead of the U.S. jobs report which could offer insight over the health of the U.S. labour force,” said FXTM’s Otunuga.

Amongst other metals, silver fell 0.7 percent to $14.41 per ounce, while platinum extended losses into a third session, declining 0.7 percent to $795.00 per ounce.


Company: cnbc, Activity: cnbc, Date: 2018-12-06  Authors: getty images
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Palladium hits record high, briefly surpasses gold price

Palladium soared to a record high on Tuesday, fueled by speculative interest and tight supplies of the autocatalyst metal, briefly surpassing bullion, which scaled to more than a five-week peak as the dollar slid. Spot gold was up 0.6 percent to $1,237.81 per ounce after earlier hitting $1,241.86, the highest price since Oct. 26. Palladium climbed 2.3 percent to $1,230.70 per ounce, having earlier jumped to an all-time high of $1,239.50. However, a few analysts said palladium’s rally could run o


Palladium soared to a record high on Tuesday, fueled by speculative interest and tight supplies of the autocatalyst metal, briefly surpassing bullion, which scaled to more than a five-week peak as the dollar slid. Spot gold was up 0.6 percent to $1,237.81 per ounce after earlier hitting $1,241.86, the highest price since Oct. 26. Palladium climbed 2.3 percent to $1,230.70 per ounce, having earlier jumped to an all-time high of $1,239.50. However, a few analysts said palladium’s rally could run o
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Palladium hits record high, briefly surpasses gold price

Palladium soared to a record high on Tuesday, fueled by speculative interest and tight supplies of the autocatalyst metal, briefly surpassing bullion, which scaled to more than a five-week peak as the dollar slid.

Spot gold was up 0.6 percent to $1,237.81 per ounce after earlier hitting $1,241.86, the highest price since Oct. 26. U.S. gold futures settled up 0.56 percent at $1,246.60 per ounce.

Palladium climbed 2.3 percent to $1,230.70 per ounce, having earlier jumped to an all-time high of $1,239.50.

“We have a tight fundamental market, flat supplies, rising demand and on top of that, undoubtedly some speculative interest which has helped drive prices to all-time record highs,” Mitsubishi analyst Jonathan Butler said.

“For the moment, we don’t see anything changing; the metal remains in demand for industrial uses, speculators are covering their positions, lease market is very tight, and palladium forwards are in backwardation. We could see some higher prices from here in the very short term.”

The metal, used mainly in emissions-reducing auto catalysts for vehicles, has gained about 49 percent since mid-August.

“Palladium continues to fire long signals on all indicators and to make new highs, and is now challenging gold as reduced auto tariffs from China boost demand expectations in an already tight market,” analysts at TD Securities said in a note.

However, a few analysts said palladium’s rally could run out of steam, and there could be profit-taking at these high levels.

The metal’s 14-day relative strength index (RSI) was around 77. An RSI above 70 indicates a commodity is overbought and could lead to a price correction.

“Looking ahead we believe the dynamic of an investor long overhang that has been built up for palladium, combined with the short overhang in the gold market, will eventually contribute to gold re-establishing its premium over palladium,” analysts at Metals Focus wrote in a note.

Meanwhile, gold prices were on track for a second straight session of gains as the dollar continued to be pressured after the United States and China agreed to hold off on fresh trade tariffs for 90 days.

“Primarily, it is the weaker dollar that is providing assistance and that will be the key driver in the short term,” Capital Economics analyst Ross Strachan said.

“However, gold is going to find it difficult to sustain the current rally unless there is even more dollar weakness.”

Investors also kept a close eye on signals on the future path of interest rates next year by the U.S. Federal Reserve, with the central bank widely expected to raise rates at its policy meeting on Dec. 18-19. Meanwhile, spot silver jumped 1.04 percent to $14.52 per ounce, while platinum dipped 0.3 percent to $804.20.


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Gold dips as dollar firms; palladium breaches $1,200 per ounce mark

Gold fell on Friday as the dollar strengthened ahead of the trade talks between the U.S. and Chinese leaders at the G20 summit, while palladium prices crossed the key $1,200 per ounce mark for the first time. Spot gold fell 0.17 percent to $1,221.01 per ounce. U.S. gold futures slipped 0.31 percent lower to $1,226.70 an ounce. Gold prices have been trading between $1,210.65 and $1,230.07 over the past two weeks. Until the fundamental story changes, we are going to see very strong palladium price


Gold fell on Friday as the dollar strengthened ahead of the trade talks between the U.S. and Chinese leaders at the G20 summit, while palladium prices crossed the key $1,200 per ounce mark for the first time. Spot gold fell 0.17 percent to $1,221.01 per ounce. U.S. gold futures slipped 0.31 percent lower to $1,226.70 an ounce. Gold prices have been trading between $1,210.65 and $1,230.07 over the past two weeks. Until the fundamental story changes, we are going to see very strong palladium price
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Company: cnbc, Activity: cnbc, Date: 2018-11-29  Authors: chris ratcliffe, bloomberg, getty images
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Gold dips as dollar firms; palladium breaches $1,200 per ounce mark

Gold fell on Friday as the dollar strengthened ahead of the trade talks between the U.S. and Chinese leaders at the G20 summit, while palladium prices crossed the key $1,200 per ounce mark for the first time.

U.S. President Donald Trump and his Chinese counterpart Xi Jinping will be meeting on Saturday on the sidelines of the G20 summit in Argentina to discuss the ongoing trade dispute between the world’s two biggest economies.

Spot gold fell 0.17 percent to $1,221.01 per ounce. U.S. gold futures slipped 0.31 percent lower to $1,226.70 an ounce.

“The dollar index has moved to its daily high and the U.S. stock market is bouncing back and that is also working against gold,” said Kitco Metals senior analyst Jim Wyckoff.

A big price movement is unlikely in gold for the rest of the session “unless there is some kind of a major announcement from out of Buenos Aires from G20,” he added.

The dollar index, which measures the greenback against a basket of six major currencies, recouped losses, having touched a near one-week low in the previous session, as markets awaited the outcome of the talks.

“The markets now have more clarity into issues such as the U.S. Federal Reserve’s interest rate thinking, the Italian budgetary drama, and the U.S.-China trade war,” said Ronan Manly, a precious metals analyst at Singapore-based dealer BullionStar.

“As such, this clarity and visibility could cap any further gains for gold in the short term. So, a major move above the current range is not likely.”

Gold prices have been trading between $1,210.65 and $1,230.07 over the past two weeks.

Meanwhile, palladium dropped 0.02 percent to $1,180.75 per ounce, having soared to a record high earlier in the session, and moving above the key $1,200 an ounce level for the first time ever, putting it just about $15 shy of parity with gold.

“There is lot of tightness of palladium physical metal supply that’s translating into a fundamental support in strong palladium price,” said Miguel Perez-Santalla, vice president of Heraeus Metal Management in New York.

“The investors and speculators are driving the prices higher. Until the fundamental story changes, we are going to see very strong palladium prices.”

Spot silver fell 1.15 percent to $14.14 per ounce.

Platinum dipped 1.90 percent, to $801.50 per ounce, on track for a fourth consecutive weekly decline. The metal is set to fall more than 4 percent in November, after gaining in the previous two months.


Company: cnbc, Activity: cnbc, Date: 2018-11-29  Authors: chris ratcliffe, bloomberg, getty images
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Gold on track for longest string of weekly gains since January

Gold prices held steady on Friday but remained on track to rise for the fourth straight week, the longest string of weekly gains since January, amid increasing worries over the outlook for U.S. corporate earnings and global economic slowdown. Spot gold was little changed at $1,231.76 an ounce at 0416 GMT. Political and economic uncertainties including tensions between Saudi Arabia and the West, uncertainty surrounding Italy’s budget, and Brexit among others are likely to push gold prices higher


Gold prices held steady on Friday but remained on track to rise for the fourth straight week, the longest string of weekly gains since January, amid increasing worries over the outlook for U.S. corporate earnings and global economic slowdown. Spot gold was little changed at $1,231.76 an ounce at 0416 GMT. Political and economic uncertainties including tensions between Saudi Arabia and the West, uncertainty surrounding Italy’s budget, and Brexit among others are likely to push gold prices higher
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Gold on track for longest string of weekly gains since January

Gold prices held steady on Friday but remained on track to rise for the fourth straight week, the longest string of weekly gains since January, amid increasing worries over the outlook for U.S. corporate earnings and global economic slowdown.

Asian shares slipped again on Friday morning, despite a bounce on Wall Street overnight.

Spot gold was little changed at $1,231.76 an ounce at 0416 GMT. It was up 0.5 percent for the week. U.S. gold futures were up 0.2 percent at $1,234.60 an ounce.

“This (Friday’s slow trading) is just a temporary lull in a more structural move higher in the coming days… Over the last 24 hours, the rebound in equity markets probably just has held off the impetus that we saw,” ANZ analyst Daniel Hynes said.

Political and economic uncertainties including tensions between Saudi Arabia and the West, uncertainty surrounding Italy’s budget, and Brexit among others are likely to push gold prices higher in the medium term, he added.

Gold prices have gained about 6 percent after falling in mid-August to their lowest since January 2017 at $1,159.96 an ounce.

However, the yellow metal has declined about 10 percent from its April peak after investors preferred the dollar as the U.S.-China trade war unfolded against a background of higher U.S. interest rates.

“Gold markets have entered a new trading zone of $1,228-$1,238, with investor mood swings on the S&P steering the ship,” said Stephen Innes, APAC trading head at OANDA in Singapore.

However, a hawkish nod and an optimistic view of the U.S. economy from Fed Vice Chair Richard Clarida, U.S. President Donald Trump’s most recent addition to the Federal Reserve Board, has increased the odds of a rate hike in December, denting the appeal of gold slightly, he added.

Third-quarter U.S. GDP data is due on Friday and a lower-than-expected reading could cause concerns about economic growth momentum and whether that could possibly lead to a change in the Fed’s monetary tightening path.

The dollar traded in tight ranges against most of its peers on Friday as investor appetite for riskier assets remained shaky.

A target range of $1,252-$1,263 per ounce has been aborted for spot gold, as it failed again to break a resistance at $1,238, according to Reuters technical analyst Wang Tao.

Among other precious metals, palladium was up 0.1 percent at $1,100.49 an ounce, but away from a record high of $1,150.50 an ounce hit on Tuesday.

“Concerns around U.S. sanctions on Russia have eased a little bit, so not surprising to see investors lock in some of the gains (in palladium) achieved in the past week. But it still looks fairly constructive at least in the short-term,” ANZ’s Hynes said.

Silver fell 0.3 percent to $14.56 per ounce, and platinum was down 0.4 percent at $819.45 an ounce.


Company: cnbc, Activity: cnbc, Date: 2018-10-26
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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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Gold dips as dollar gains versus euro after ECB decision

I’m bearish on gold while we remain below $1,300,” said Fawad Razaqzada analyst at FOREX.com. Also weighing on gold and boosting the dollar was fresh speculation that the next Federal Reserve chair could be a policy hawk following reports that current Fed chair Janet Yellen is out of the race. On Tuesday, U.S. President Donald Trump polled Republicans on whether they would prefer Stanford University economist John Taylor or current Fed Governor Jerome Powell for the job, and more senators prefer


I’m bearish on gold while we remain below $1,300,” said Fawad Razaqzada analyst at FOREX.com. Also weighing on gold and boosting the dollar was fresh speculation that the next Federal Reserve chair could be a policy hawk following reports that current Fed chair Janet Yellen is out of the race. On Tuesday, U.S. President Donald Trump polled Republicans on whether they would prefer Stanford University economist John Taylor or current Fed Governor Jerome Powell for the job, and more senators prefer
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Gold dips as dollar gains versus euro after ECB decision

‘Nobody has been ruled out’ for Fed chair -Senior administration official 18 Hours Ago | 02:58

“Stocks are at extremely high levels in the U.S. but I think Europe is going to start playing catch up. I’m bearish on gold while we remain below $1,300,” said Fawad Razaqzada analyst at FOREX.com.

Spot gold dipped 0.19 percent to $1,274.5601 an ounce at 10:25 a.m. ET. U.S. gold futures for December delivery fell 0.25 percent to $1,275.80.

Also weighing on gold and boosting the dollar was fresh speculation that the next Federal Reserve chair could be a policy hawk following reports that current Fed chair Janet Yellen is out of the race.

On Tuesday, U.S. President Donald Trump polled Republicans on whether they would prefer Stanford University economist John Taylor or current Fed Governor Jerome Powell for the job, and more senators preferred Taylor.

“A hawkish governor like Taylor could lead to a rise in bond yields and be negative for the gold price,” said John Sharma, an economist with National Australia Bank.

Gold is likely to flatline for another year in 2018 as rising U.S. interest rates clip momentum, a Reuters poll showed on Thursday, while silver forecasts were cut again after the metal lagged forecasts in the third quarter.

In other precious metals, silver fell 0.12 percent to $16.89 an ounce.

Platinum fell 0.22 percent to $916.80 an ounce, while palladium climbed 0.59 percent to $966.15.

“On current levels, a lot of bad news is priced into platinum while palladium still looks due for a correction with another dent in global car sales looming,” said Julius Baer in a note.


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Gold holds above $1,300 as palladium hits highest since 2001

Gold held above the psychological $1,300 mark on Monday, supported by ongoing tensions over Iran and North Korea and recent weak U.S. economic data. Palladium made another break above $1,000 an ounce to the highest levels since 2001 on the back of strong Chinese auto sales. Spot gold was unchanged at $1,304.50 an ounce, while U.S. gold futures for December delivery added 0.2 percent to $1,306.80 per ounce. Spot gold has been rebounding since touching a two-month low of $1,260.16 on Oct. 6, lifte


Gold held above the psychological $1,300 mark on Monday, supported by ongoing tensions over Iran and North Korea and recent weak U.S. economic data. Palladium made another break above $1,000 an ounce to the highest levels since 2001 on the back of strong Chinese auto sales. Spot gold was unchanged at $1,304.50 an ounce, while U.S. gold futures for December delivery added 0.2 percent to $1,306.80 per ounce. Spot gold has been rebounding since touching a two-month low of $1,260.16 on Oct. 6, lifte
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Gold holds above $1,300 as palladium hits highest since 2001

Gold held above the psychological $1,300 mark on Monday, supported by ongoing tensions over Iran and North Korea and recent weak U.S. economic data. Palladium made another break above $1,000 an ounce to the highest levels since 2001 on the back of strong Chinese auto sales.

Spot gold was unchanged at $1,304.50 an ounce, while U.S. gold futures for December delivery added 0.2 percent to $1,306.80 per ounce.

Spot gold has been rebounding since touching a two-month low of $1,260.16 on Oct. 6, lifted by worries about North Korea and a weak dollar.

While the dollar index edged up on Monday as the euro dipped, recent weak U.S. economic data and tame inflation point to a more favourable environment for gold.

“Last Friday we had rather disappointing CPI number, which further enforced the view that there’s no need for the Fed to be very aggressive in terms of rate hikes,” said analyst Carsten Menke at Julius Baer in Zurich.

Rising interest rates tend to boost the dollar and push bond yields up, putting pressure on the greenback-denominated, non-yielding gold.

“Now it seems that gold has some legs above $1,300 level, which attracts some technical buying. The bulls have the upper hand, at least for the moment. I wouldn’t expect a sharp down move over the next couple of weeks.”

Geopolitical risks, including over Iran and North Korea, are likely to persist this week, Jeffrey Halley, a senior market analyst with OANDA, said in a note.

“This should all combine to ensure that gold maintains a safe-haven tone this week,” Halley said.

Palladium jumped to its highest since February 2001 at $1,010.50 an ounce, before paring gains to $1,000.90, up 1.3 percent.

Some investors had been wary when the metal, mostly used for auto catalysts to clean pollution from exhaust fumes, broke above $1,000 on Sept. 6, due to concern about weak global auto sales. But those worries seem to have been swept aside after the world’s biggest auto market China last week reported sales growth of 5.7 percent in September.

“I have the impression that some of the skeptics have given up on the weaker car market story after China reported quite a solid third quarter,” Menke said. UBS strategist Joni Teves said palladium’s gains were justified by supply/demand fundamentals, which include a market deficit of 830,000 ounces this year.

“This comes after persistent shortfalls over the past five years, which has clearly drawn down considerably on above-ground inventories,” she said in a note.

Silver rose 0.2 percent to $17.39 an ounce after hitting $17.46, its highest since mid-September, while platinum eased 0.2 percent to $942.05 an ounce.


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Investors keep gold and dollar in watch

Gold prices rose on Wednesday after hitting a 7-week low in the previous session, buoyed as thedollar pulled back from a 1-1/2-month high against a basket of currencies. Spot gold had risen 0.3 percent to $1,275.34 an ounce by 0338 GMT. “Gold prices have steadied in the past 24 hours, with a stalling U.S. dollar contributing to the move. A weaker dollar makes bullion cheaper for holders of other currencies, while stronger equities imply increased appetite for risk among investors. The Perth Mint


Gold prices rose on Wednesday after hitting a 7-week low in the previous session, buoyed as thedollar pulled back from a 1-1/2-month high against a basket of currencies. Spot gold had risen 0.3 percent to $1,275.34 an ounce by 0338 GMT. “Gold prices have steadied in the past 24 hours, with a stalling U.S. dollar contributing to the move. A weaker dollar makes bullion cheaper for holders of other currencies, while stronger equities imply increased appetite for risk among investors. The Perth Mint
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Company: cnbc, Activity: cnbc, Date: 2017-10-03  Authors: waldo swiegers, bloomberg, getty images
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Investors keep gold and dollar in watch

Gold prices rose on Wednesday after hitting a 7-week low in the previous session, buoyed as the

dollar pulled back from a 1-1/2-month high against a basket of currencies.

Spot gold had risen 0.3 percent to $1,275.34 an ounce by 0338 GMT. It touched its lowest since mid-August at $1,267.76 on Tuesday.

U.S. gold futures for December delivery were also up 0.3 percent at $1,278 per ounce.

“Gold prices have steadied in the past 24 hours, with a stalling U.S. dollar contributing to the move. Long liquidation over the last 2 weeks has put gold on a more steady footing, with the market now turning to this week’s non-farm payrolls report,” said Jordan Eliseo, chief economist at ABC Bullion.

The dollar on Wednesday shed gains against a basket of major currencies over speculation that U.S. President Donald Trump’s choice for the next Federal Reserve Chair may be a less hawkish candidate than previously thought.

Meanwhile, world stocks continued to notch up gains, with Japan’s Nikkei climbing to its highest since August 2015 on strong U.S. auto sales in September.

Three major U.S. stock indexes on Tuesday closed at record highs on signs of strong global economic growth.

A weaker dollar makes bullion cheaper for holders of other currencies, while stronger equities imply increased appetite for risk among investors.

“Volatility should pick up in North America as we head into a data-heavy end of the week,” said Jeffrey Halley, senior market analyst at OANDA.

Spot gold may break resistance at $1,279 and rise into a zone of $1,287-$1,297 per ounce, said Reuters technicals analyst Wang Tao.

The Perth Mint’s sales of gold products doubled in September from a month earlier, while silver sales surged 78 percent, the mint said in a blog post on its website on Tuesday.

Among other precious metals, silver climbed 0.8 percent to $16.72 an ounce.

Platinum was 0.5-percent higher at $912 an ounce, while palladium climbed 0.7 percent to $921 an ounce. The sister-metals, widely used as autocatalysts, hit price parity

for the first time in 16 years last week.

“Fundamentally, the market balances and ready availability of metal support palladium trading at a premium to platinum,” analysts at Standard Chartered wrote in a note dated Tuesday.


Company: cnbc, Activity: cnbc, Date: 2017-10-03  Authors: waldo swiegers, bloomberg, getty images
Keywords: news, games, cnbc, companies, dollar, prices, palladium, ounce, watch, market, weeks, gold, strong, sales, silver, investors


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Gold hits near 7-week low as rising US yields lift dollar

Gold fell to its lowest since mid August on Monday as rising U.S. Treasury yields pushed the dollar higher, while concerns over violence during Catalonia’s independence vote at the weekend weighed on the euro. Expectations that the Federal Reserve will push ahead with a third U.S. interest rate hike this year, upbeat U.S. data and talk of a possibly more hawkish successor to Fed Chair Janet Yellen all lifted Treasury yields. Rising yields tend to weigh on non-interest bearing gold, while strengt


Gold fell to its lowest since mid August on Monday as rising U.S. Treasury yields pushed the dollar higher, while concerns over violence during Catalonia’s independence vote at the weekend weighed on the euro. Expectations that the Federal Reserve will push ahead with a third U.S. interest rate hike this year, upbeat U.S. data and talk of a possibly more hawkish successor to Fed Chair Janet Yellen all lifted Treasury yields. Rising yields tend to weigh on non-interest bearing gold, while strengt
Gold hits near 7-week low as rising US yields lift dollar Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-10-01  Authors: chris ratcliffe, bloomberg, getty images
Keywords: news, games, cnbc, companies, low, vote, platinum, 7week, lift, palladium, treasury, dollar, yields, hits, rising, ounce, highs, silver, gold, near


Gold hits near 7-week low as rising US yields lift dollar

Gold fell to its lowest since mid August on Monday as rising U.S. Treasury yields pushed the dollar higher, while concerns over violence during Catalonia’s independence vote at the weekend weighed on the euro.

Expectations that the Federal Reserve will push ahead with a third U.S. interest rate hike this year, upbeat U.S. data and talk of a possibly more hawkish successor to Fed Chair Janet Yellen all lifted Treasury yields. Rising yields tend to weigh on non-interest bearing gold, while strength in the dollar makes assets priced in the U.S. currency more expensive for buyers holding other currencies.

Spot gold was down 0.5 percent at $1,272.40 an ounce, having earlier touched a near seven-week low at $1,270.60 an ounce. U.S. gold futures for December delivery were down $9.80 an ounce at $1,275.00.

The metal posted its biggest monthly fall so far this year in September, despite netting a quarterly rise of 3 percent partly due to tensions over North Korea’s nuclear ambitions.

“The recent selloff is mostly related to a stirring of the reflation trade following the announcement by the Trump administration of the long-awaited tax reform proposal,” Mitsubishi analyst Jonathan Butler said. “The dollar has jumped to six-week highs, Treasury yields have surged to three-month highs as investors search out risk assets, and U.S. equities reached new record highs on Friday.”

The euro also came under pressure after Spanish police used batons and rubber bullets to thwart an independence vote in Catalonia on Sunday, leaving hundreds injured. The single currency was down 0.6 percent versus the dollar. With European bourses opening higher, gold failed to benefit from increased demand for havens from risk. Speculators cut their net long positions in COMEX gold and silver contracts in the week to Sept. 26, U.S. data showed on Friday.

Among other metals, silver was down 0.2 percent at $16.58 an ounce after earlier marking its lowest since Aug. 9. Platinum was up 0.1 percent at $910.70 an ounce, while palladium was little changed at $934.80.

Platinum held in a historically unusual discount to its sister metal palladium for a fourth session.

“There is arguably speculative froth in the palladium price so a short-term correction is likely,” GFMS analyst Ross Strachan told the Reuters Global Gold Forum on Monday. “However, the longer-term picture is one where the sharp downward path for stocks of palladium mean that eventually (it) is likely to reach a sustained premium over platinum. Our new forecasts show that on an annual average basis we expect palladium to exceed platinum in 2019.”


Company: cnbc, Activity: cnbc, Date: 2017-10-01  Authors: chris ratcliffe, bloomberg, getty images
Keywords: news, games, cnbc, companies, low, vote, platinum, 7week, lift, palladium, treasury, dollar, yields, hits, rising, ounce, highs, silver, gold, near


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Gold rises from 1-month lows; palladium at discount to platinum

Gold rose on Thursday after falling to one-month lows on expectations of a rise in U.S. interest rates this year, while platinum fell to a discount against palladium for the first time since 2001 on waning demand for diesel cars. Spot gold rose 0.3 percent to $1,284.36 per ounce at 0127 GMT after it revisited the previous session’s low of $1,280.72 an ounce, the lowest since Aug. 25U.S. gold futures for December delivery fell 0.1 percent to $1,287.00 per ounce. Palladium hit price parity with it


Gold rose on Thursday after falling to one-month lows on expectations of a rise in U.S. interest rates this year, while platinum fell to a discount against palladium for the first time since 2001 on waning demand for diesel cars. Spot gold rose 0.3 percent to $1,284.36 per ounce at 0127 GMT after it revisited the previous session’s low of $1,280.72 an ounce, the lowest since Aug. 25U.S. gold futures for December delivery fell 0.1 percent to $1,287.00 per ounce. Palladium hit price parity with it
Gold rises from 1-month lows; palladium at discount to platinum Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-09-27  Authors: getty images
Keywords: news, games, cnbc, companies, discount, interest, economic, lows, gold, palladium, platinum, 1month, rise, rose, trumps, rises, expectations, vehicles, tax, growth


Gold rises from 1-month lows; palladium at discount to platinum

Gold rose on Thursday after falling to one-month lows on expectations of a rise in U.S. interest rates this year, while platinum fell to a discount against palladium for the first time since 2001 on waning demand for diesel cars.

Spot gold rose 0.3 percent to $1,284.36 per ounce at 0127 GMT after it revisited the previous session’s low of $1,280.72 an ounce, the lowest since Aug. 25

U.S. gold futures for December delivery fell 0.1 percent to $1,287.00 per ounce.

Palladium hit price parity with its better-known sister metal platinum on Wednesday for the first time since 2001, as demand expectations for the two assets diverge.

Platinum is more heavily used in diesel vehicles that have fallen out of favor since 2015’s Volkswagen emissions-rigging scandal. Palladium has benefited from the switch to petrol

engines and expectations for growth in hybrid electric vehicles, which tend to be gasoline powered.

President Donald Trump on Wednesday proposed the biggest U.S. tax overhaul in three decades, offering to cut taxes for most Americans but prompting criticism that the plan favors the rich and companies and could add trillions of dollars to the deficit.

The dollar on Wednesday climbed to a one-month high against a basket of currencies, while financial stocks and Treasury yields rose after strong economic data helped boost expectations for a U.S. Federal Reserve interest rate hike in December.

New orders for U.S.-made capital goods increased more than expected in August and shipments maintained their upward trend, pointing to underlying strength in the economy despite an anticipated drag on growth from Hurricanes Harvey and Irma.

Gold smuggling in India, the world’s second-biggest consumer of the metal, is likely to rise during the country’s peak holiday season as buyers try to avoid paying a new sales tax and to dodge new transparency rules.

The Fed has no need to raise interest rates anytime soon because U.S. economic growth will not rise appreciably over 2 percent this year and inflation will likely remain low, St. Louis Fed President James Bullard said on Wednesday.

The “reflation,” or “Trumpflation,” trade that drove financial markets after Trump’s surprise U.S. presidential election victory last November made a comeback on Wednesday as the unveiling of Trump’s long-promised tax overhaul revived bets that markets would benefit from both faster economic growth and inflation.


Company: cnbc, Activity: cnbc, Date: 2017-09-27  Authors: getty images
Keywords: news, games, cnbc, companies, discount, interest, economic, lows, gold, palladium, platinum, 1month, rise, rose, trumps, rises, expectations, vehicles, tax, growth


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