Wall St., Main St. Expect Gold To Keep Shining

Monday, 10 December 2018 13:04 WIB

Wall Street and Main Street both look for gold to build on last week's move higher during the this week, based on the Kitco News gold survey. Observers suggested Friday's softer-than-forecast report on U.S. nonfarm payrolls will continue to offer support to the precious metal. The Labor Department reported that 155,000 new nonfarm jobs were created last month, when expectations had been for around 190,000 to 200,000. Still, the jobless rate remained at a 49-year low of 3.7%. Fourteen market professionals took part in the Wall Street survey. Eight respondents, or 57%, predicted higher...

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Can Gold Beat The December Curse?

Tuesday, 4 December 2018 12:00 WIB

One commodity analyst says he is waiting to see if the gold market can beat its December curse as the market is starting the month on a strong note, trading just below the critical resistance level of $1,240 an ounce. In the last three years, December has not been a kind month for gold, with the precious metal consistently hitting its yearly lows during the month. However, Andrew Hecht, creator...

While the gold market could trade at the top of its current six-month range in 2019, investors should not expect prices to break their orbit, according to one international research firm. In a telephone interview with Kitco News, KC Chang, senior economist at IHS Markit, said that his firm continues to see gold prices trading between $1,200 and $1,300 an ounce in 2019, with prices hitting the...

Although the gold market has been unable to maintain October's momentum, one Canadian bank is not ready to give up on the precious metals just yet. Analysts at Scotiabank said that they see further potential for the yellow metal as the bank sees a wave of risk-off sentiment sweep through financial markets and inflation pressures rise, according to its November Metals Matters precious metals...

Gold prices fell even as bond yields tracked stocks lower and the priced-in rate hike path implied in Fed Funds futures flattened Friday. The US Dollar found renewed haven appeal against the risk-off backdrop, and its rise undermined the appeal of anti-fiat alternatives epitomized by the yellow metal. Looking ahead, gold may continue to suffer as risk appetite recovers. S&P 500 futures are...

Gold has bounced in a $20 range since the end of October. Discounting the drop on Oct. 31, which we believe was fund selling to grab some profits for client-statement purposes to offset losses in the equity space, gold has remained in a very tight range. Good economic numbers on Friday helped to strengthen the dollar, but gold remained resilient into the weekend. The technical picture remains...

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