gold futures news

gold futures news

July 25th, 2018

Gold futures steadied near a one-year low Wednesday as a leading dollar index eased, while a percolating trade spat between the U.S. and Europe faced a key test in the afternoon meeting between the European Union’s top official and President Donald Trump.

Financial markets from stocks to bonds to precious metals and currencies were largely rangebound as the European Commission President Jean-Claude Juncker and Trump prepared to meet at the White House at 1:30 p.m. Eastern time to try to de-escalate the trade fight.

And see: Tariffs are ‘the greatest,’ Trump says ahead of EU chief’s visit

“The main topic of the talks will be the trade dispute between the two parties that began when U.S. import tariffs were introduced on steel and aluminum from the EU in early June. The EU had responded by slapping tariffs on U.S. products in its turn, and has meanwhile drawn up a list of products that could likewise be subjected to a punitive tariff if the U.S. were to impose further tariffs,” said Carsten Fritsch, commodities analyst at Commerzbank, in a note.

“If contrary to expectations any sort of agreement should be reached between Trump and Juncker, the gold price would probably fall because this would presumably increase the market’s risk appetite,” he said.

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gold futures

gold futures

November 29th, 2016

Gold futures prices slipped on Tuesday as the dollar stabilized after falls in the previous session as investors turned their attention to upcoming U.S. economic reports and Wednesday’s OPEC meeting.

Gold was trading at $1,187.0 a troy ounce by 0857 GMT. The precious metal ended the previous session with gains of 0.39%.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was last at 101.33.

Gold is priced in dollars and becomes less attractive to holders of other currencies when the dollar rises.

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gold futures news

gold futures news

March 4th, 2016

Gold rose in European morning hours on Friday, to trade near the previous session’s one-year peak as investors focused on the upcoming U.S. nonfarm payrolls report for new hints on the Federal Reserve’s next policy moves.

On the Comex division of the New York Mercantile Exchange, gold futures for April delivery were up 0.25% at $1,260.90.

The April contract ended Thursday’s session 1.32% higher at $1,258.20 an ounce.

Futures were likely to find support at $1,238.00, Thursday’s low and resistance at $1,267.90, Thursday’s high and a one-year high.

Gold prices had strengthened after after a string of downbeat U.S. data on Thursday dampened optimism over the strength of the economy.

The Institute of Supply Management reported that its non-manufacturing purchasing manager’s index fell more-than-expected last month.

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gold futures quotes

gold futures quotes

February 11th, 2016

Gold futures jumped to the highest level since May in Europe trade on Thursday, amid growing skepticism over the Federal Reserve’s ability to raise interest rates as much as it would like this year.

Gold for April delivery on the Comex division of the New York Mercantile Exchange rose to an intraday peak of $1,215.30 a troy ounce, a level not seen in almost nine months, before falling back to trade at $1,207.80 by 08:00GMT, or 3:00AM ET, up $13.30, or 1.11%. A day earlier, gold shed $4.00, or 0.33%.

Federal Reserve Chair Janet Yellen said Wednesday that financial conditions have become less supportive to growth as foreign developments pose risks to the economic outlook, but also maintained that moderate growth at home would justify “gradual adjustments” to the Fed’s monetary policy stance.

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gold futures news

gold futures news

June 22nd, 2015

Gold prices fell to the lowest levels of the session on Monday, adding to losses after data showed that U.S. existing home sales in May rose to the highest level since November 2009.

Gold futures for August delivery on the Comex division of the New York Mercantile Exchange lost $19.30, or 1.61%, to trade at $1,182.60 a troy ounce during U.S. morning hours. Futures were likely to find support at $1,171.90, the low from June 15, and resistance at $1,208.90, the high from May 26.

The National Association of Realtors said that existing home sales increased 5.1% to 5.35 million units last month from 5.09 million in April. Analysts had expected existing home sales to rise 4.4% to 5.26 million units in May.

The upbeat data boosted optimism over the health of the economy and supported the case for a U.S. interest rate hike later this year.

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gold futures quotes

gold futures quotes

December 16th, 2014

Gold futures headed for the longest slump in five weeks amid concern that the Federal Reserve is moving closer to raising U.S. interest rates and speculation that Russia will sell reserves of the metal.

Fed officials meet today and tomorrow to debate the pace of raising its benchmark rate, which has been near zero since 2008. In the third quarter, gold fell 8.4 percent as the U.S. economy gained.

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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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