gold futures blog

gold futures blog

November 21st, 2017

Gold prices held onto gains on Tuesday, as sentiment on the U.S. dollar remained fragile amid ongoing uncertainty over the fate of a U.S. tax bill and ahead of the minutes of the Federal Reserve’s policy meeting due on Wednesday.

Comex gold futures were up $3.47 or about 0.27% at $1,278.78 a troy ounce by 08:15 a.m. ET (12:15 GMT).

The House of Representatives passed a bill last week that would lower corporate taxes and cut individual taxes for most households in 2018.

However the legislation could still face difficulties in the Senate amid resistance within Republican ranks. Senate lawmakers are expected to vote on their version of the bill after this week’s Thanksgiving holiday.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was steady at 94.01.

Gold is sensitive to moves in the dollar. A weaker dollar makes gold less expensive for holders of foreign currency.

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gold futures news

gold futures news

August 8th, 2016

Gold edges lower but weaker dollar lends support Gold edges lower but weaker dollar lends support

Investing.com – Gold prices slipped lower on Friday, but losses were expected to remain limited as a globally weaker U.S. dollar continued to lend support to the precious metal.

On the Comex division of the New York Mercantile Exchange, gold futures for December delivery were down 0.16% at $1,339.35, not far from Wednesday’s three-week high of $1,350.50.

The December contract ended Thursday’s session 0.56% lower at $1,341.60 an ounce.

Futures were likely to find support at $1,323.20, the low from September 6 and resistance at $1,350.50, Wednesday’s high.

Gold prices weakened briefly after data on Thursday showing that U.S. initial jobless claims in the week ending September 3 decreased by 4,000 to a six-week low of 259,000 from the previous week’s total of 263,000. Analysts expected jobless claims to rise by 2,000 to 265,000 last week.

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gold futures prices

gold futures prices

November 11th, 2014

Gold futures fell for a ninth time in 10 sessions as investors seek higher-yielding assets amid a rout that wiped out the metal’s gains this year.

Assets in the SPDR Gold Trust, the world’s biggest exchange-traded product backed by the metal, dropped for five straight sessions, the longest slump in almost a year. The holdings are at the lowest since September 2008. The Standard & Poor’s 500 Index of shares rose to a record today before trading little changed, and the dollar traded near a five-year high against a basket of 10 currencies.

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gold futures quotes

gold futures quotes

September 30th, 2014

Gold futures fell to the lowest level since January, set for the biggest monthly decline in 15, on the outlook for higher U.S. interest rates that strengthened the dollar. Silver dropped to the lowest in four years.

Gold retreated 6.3 percent in September, the most since June 2013. It’s within 0.4 percent of erasing this year’s gains, which were fueled partly by tensions in Ukraine and the Middle East. The dollar has climbed amid improving U.S. economic data and as the Federal Reserve raised interest-rate forecasts, while central banks in Europe and Asia maintained or expanded stimulus to spur economic growth.

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gold futures brokers

gold futures brokers

August 11th, 2014

Gold futures was little changed in New York trading below a three-week high as investors weighed signs tension in Ukraine and the Middle East is easing.

Global equities rose for a second day after Russia said warplanes ended drills near Ukraine and Israel and militants in the Gaza Strip agreed to an Egyptian-brokered truce. Geopolitical unrest helped gold gain 9 percent this year, with prices reaching a three-week high of $1,324.30 an ounce on Aug. 8 as U.S. President Barack Obama authorized air strikes in Iraq.

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gold futures

gold futures

August 6th, 2014

Gold futures jumped the most in almost three weeks in New York as signs of escalating tension between Ukraine and Russia fueled demand for precious metals as a haven.

NATO said there’s a risk of Russia sending troops into Ukraine under the “pretext” of a humanitarian or peacekeeping mission after President Vladimir Putin massed soldiers on his country’s western border. The MSCI All-Country World Index of equities fell as much as 0.6 percent.

Gold prices climbed 6.9 percent this year through yesterday as tensions in Eastern Europe and violence in the Middle East renewed investor interest in the metal. Bullion’s 2014 rally has beat gains for broad measures of stocks, Treasuries and commodities. Holdings in exchange-traded products backed by the metal advanced in five of the past six weeks.

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gold futures

gold futures

July 29th, 2014

Gold futures declined as U.S. and European equities advanced, curbing demand for the precious metal as an alternative asset.

Stocks climbed on optimism over corporate earnings. U.S. consumer confidence soared in July to the highest in almost seven years on the heels of a strengthening labor market, a private gauge showed today. Earlier, gold reached a one-week high on demand for a haven amid escalating conflicts in the Gaza Strip and Ukraine.

The metal headed for a monthly decline, partly on the outlook for an increase U.S. interest rates. The dollar rose to a seven-week high against a basket of 10 major currencies before Federal Reserve officials start a two-day meeting today. Policy makers have tapered monetary stimulus on signs of recovery in the economy.

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gold futures

gold futures

July 17th, 2014

Gold futures prices headed for the biggest gain in four weeks after Ukraine said rebels shot down a Malaysian jet carrying 295 people near its border with Russia.

The Boeing 777 flight between Amsterdam and Kuala Lumpur was hit by a missile and went down near the eastern town of Torez, Ukrainian Interior Minister adviser Anton Gerashchenko said on his Facebook page. Gold rose earlier as the U.S. and the European Union imposed the most aggressive sanctions to date on Russian business.

Bullion has rallied about 10 percent this year, beating gains for commodities, equities and Treasuries, as violence in Iraq and hostilities between Ukraine and Russia boosted demand for a haven asset. Gold also rose as the Federal Reserve has signaled interest rates will stay near a record low.

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gold futures

gold futures

June 24th, 2014

Gold rose to a two-month high as U.S. home prices rose at a slower pace than forecast and business confidence in Germany eroded, boosting the appeal of the metal as a haven. Silver climbed to the highest since March.

The S&P/Case-Shiller index of property values in 20 U.S. cities increased 10.8 percent in the 12 months that ended April 30, the smallest in more than a year, data showed today. In Germany, Europe’s largest economy, business confidence fell to the weakest this year amid signs of slower economic growth.

Gold futures have climbed 6 percent this month, partly on concerns that gains in the global economy will be muted. On June 11, the World Bank cut its growth forecast. Federal Reserve policy makers led by Chair Janet Yellen said last week that U.S. interest rates will remain low for a considerable time.

“The weaker home prices in the U.S. and negative news out of Europe are giving gold a bump,” Fain Shaffer, the president of Infinity Trading Corp. in Indianapolis, said in a telephone interview. “We’re also still moving higher from Yellen’s statements last week.”

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gold futures trading

gold futures

June 6th, 2014

Gold futures fell the most in a week as equities advanced, diminishing demand for the precious metal as an alternative investment.

The Standard & Poor’s 500 Index (SPX) of shares rose to a record after a government report showed that American employers in May pushed payrolls past their pre-recession peak. Gold traded little changed after the jobs report and dropped as much as 0.6 percent after the U.S. equity market opened.

Bullion’s 60-day historical volatility this week reached the lowest since April 2013, and the value of exchange-traded products backed by gold shrank by $2.6 billion in May, the most this year. The metal’s appeal as a haven diminished as U.S. equities surged and tension between Ukraine and Russia eased. More than $1.1 trillion was added to the value of global stock markets last month.

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