Gold and copper prices gaine in Asia on Thursday on political risk and supply disruption respectively with sentiment cautious. Gold for April delivery on the Comex division of the New York Mercantile Exchange rose 0.27% to $1,242.85 a troy ounce. Copper futures on the Comex rose 0.30% to $2.637 a pound as workers at the Escondida copper mine in Chile, the largest in the world, started a strike on Thursday. The workers union has warned that the strike could be lengthy, potentially affecting global supplies. Chile is the world’s biggest producer of the red metal, providing almost a third of the world's supply. Overnight, gold prices rose for the fifth day in a row on Wednesday, extending a rally to a fresh three-month high amid ongoing worries over political risks in Europe and economic uncertainty in the U.S. Investors remained focused on French politics, with recent opinion polls showing centrist Emmanuel Macron slightly ahead of conservative Francois Fillon in the first round, but behind far-right National Front leader Marine Le Pen. She has vowed to pull France out of the euro zone and hold a vote on its membership in the European Union. The first round of the election is scheduled for April 23, followed by the final run-off vote on May 7. Adding to the mood of uncertainty, elections will also be held in the Netherlands in March, Germany in September and possibly Italy. Traders also eyed political risk elements in the U.S., with President Donald Trump's administration on the back foot over its immigration and other policies. Headlines from Washington will continue to dictate market sentiment as traders focus on Trump for further details on his promises of tax reform, infrastructure spending and deregulation as well as trade policies. If you want more information regarding the Market News & many other tips like Tradeindia Services , Intraday Tips , MCX Normal Calls , Indore Advisory Company , Bullion Market Tips , Share Market Services , NSE & BSE Market Tips , Free MCX Market Tips , MCX Premium Tips , Bullion Energy Tips , Commodity market tips , Give Miss call ☎ @ Toll Free Number 📲 18003157801
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Gold prices swung between small gains and losses in North American morning trade on Tuesday, steadying near the prior session's three-month high as rising global political uncertainty supported safe-haven demand. Gold for April delivery on the Comex division of the New York Mercantile Exchange tacked on 25 cents, or less than 0.1%, to $1,232.45 a troy ounce by 9:20AM ET (14:20GMT), after rallying $11.30, or almost 1%, a day earlier. Prices of the yellow metal touched $1,237.50 on Monday, the most since November 11. Investors were largely focused on French politics, as far-right National Front leader Marine Le Pen launched her presidential bid over the weekend, vowing to fight globalization and take France out of the euro zone. Apart from France, market players also have to factor in elections in other parts of the European Union this year. Dutch elections are in March followed by Germany in September. In Italy, another presidential election looms, even as former Italian prime minister Matteo Renzi said he was willing to shelve his push for early voting. Traders also eyed political risk elements in the U.S., with President Donald Trump's administration on the back foot over its immigration and other policies. Headlines from Washington will continue to dictate market sentiment as traders focus on Trump for further details on his promises of tax reform, infrastructure spending and deregulation as well as trade policies. Investors often buy gold as a refuge against economic and political uncertainty. Gains were limited due to a stronger U.S. dollar, as dollar-priced commodities become more expensive to investors holding other currencies when the greenback gains. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.7% at 100.53 in early trade, pulling away from last week's two-month low of 99.19. The dollar was boosted after Philadelphia Federal Reserve Bank President Patrick Harker on Monday said he would be open to raising interest rates again at the U.S. central bank's March meeting if growth in jobs and wages continues. Fed fund futures priced in a less than 10% chance of a rate hike in March, according to Investing.com’s Fed Rate Monitor Tool. However, odds of a June increase was seen at more than 60%. The Fed, which raised rates in December, has forecast three rate increases this year. However, traders remained unconvinced, with markets continuing to price in just two rate hikes during the course of this year. Also on the Comex, silver futures for March delivery shed 4.5 cents, or 0.25%, to $17.64 a troy ounce. Meanwhile, platinum dipped 0.5% to $1,009.45, while palladium dropped around 1% to $767.03 an ounce. Elsewhere in metals trading, copper futures inched down 1.1 cents, or 0.4%, to $2.640 a pound. If you want more information regarding the Market News & many other tips like Tradeindia Services , Intraday Tips , MCX Normal Calls , Indore Advisory Company , Bullion Market Tips , Share Market Services , NSE & BSE Market Tips , Free MCX Market Tips , MCX Premium Tips , Bullion Energy Tips , Commodity market tips , Give Miss call ☎ @ Toll Free Number 📲 18003157801
Gold gained in Asia on Monday as investors eyed political risk elements with President Donald Trump's administration on the back foot over its immigration and other policies. The market is caught between a situation of "Trump-flation", that is higher yields and stronger dollar, or "Donald Doubt," which sees a softer dollar and lower yields due to protectionism and dollar jaw-boning, said Mizuho Bank's Vishnu Varathan in a Monday note. On the Comex division of the New York Mercantile Exchange, gold for March delivery rose 0.36% to $1,225.15 a troy ounce. Copper prices rebounded, up 0.73% to $2.636 a pound as investors noted China's services and awaited clarity on the labor situation at Chile's Escondida mine where the government is playing a broker between management and workers over a strike threat on wages.. In China, the Caixin Services PMI stayed in expansion at 53.1, but missed the expected 53.6 level and was below the previous month figure of 53.4. Last week, gold ended slightly higher on Friday, after the latest U.S. jobs report showing weak wage growth last month dampened expectations for a faster rate of interest rate hikes this year. The Labor Department said the U.S. economy added 227,000 jobs in January from the prior month, while the unemployment rate ticked up to 4.8% from 4.7% in December, as more Americans joined the workforce. But average hourly earnings rose 2.5% in January from a year earlier, slowing from 2.8% in December. The slowdown in wage growth prompted speculation that the Fed will avoid hiking interest rates too quickly. In its latest monetary policy statement on Wednesday the Fed stuck to its view that the economy is strengthening, but gave no clear signal on the timing of its next rate hike as officials wait to assess the possible economic impact of the Trump administration’s protectionist policies and recent remarks about currencies. If you want more information regarding the Market News & many other tips like Tradeindia Services , Intraday Tips , MCX Normal Calls , Indore Advisory Company , Bullion Market Tips , Share Market Services , NSE & BSE Market Tips , Free MCX Market Tips , MCX Premium Tips , Bullion Energy Tips , Commodity market tips , Give Miss call ☎ @ Toll Free Number 📲 18003157801
Gold for April delivery on the Comex division of the New York Mercantile Exchange eased 0.46% to $1,213.85 a troy ounce. Gold for April delivery on the Comex division of the New York Mercantile Exchange eased 0.46% to $1,213.85 a troy ounce. Copper futures dropped 1.45% on the Comex to $2.644 as word is awaited on a strike at BHP Billiton (LON:BLT)'s Escondida mine in Chile, the world's biggest copper operation, after workers voted late Tuesday to reject a company wage offer and opted instead to go on strike. Gold prices rose in the U.S. on Thursday with investors keeping an eye on political risk as thew Trump administration looks to find its footing at home and abroad with U.S. jobs at the end of the week expected to set a tone. A walk out could begin as early as Friday, but could be deferred for a five-day government mediation effort to attempt a resolution. On Wednesday, the Federal Reserve held its fire on interest rates as widely expected on Wednesday, but was optimistic on the outlook for the economy in keeping its benchmark overnight lending rate target at 0.5% to 0.75% following a 25 basis point hike in December. “Measures of consumer and business sentiment have improved of late,” the committee said in its statement, using new language that jibes with voices on Wall Street following the election of Donald Trump as president. “Job gains remained solid and the unemployment rate stayed near its recent low,” the statement said, reflecting just a minor tweak from language at the December meeting. If you want more information regarding the Market News & many other tips like Tradeindia Services , Intraday Tips , MCX Normal Calls , Indore Advisory Company , Bullion Market Tips , Share Market Services , NSE & BSE Market Tips , Free MCX Market Tips , MCX Premium Tips , Bullion Energy Tips , Commodity market tips , Give Miss call ☎ @ Toll Free Number 📲 18003157801
Spot gold rose 0.44 percent, to USD 1,214.45 per ounce at 0321 GMT, while US gold futures were up 0.7 percent, to USD 1,216.7. Gold edged up on Thursday, as the dollar weakened after the US Federal Reserve kept interest rates unchanged at its first meeting since President Donald Trump's inauguration. Spot gold rose 0.44 percent, to USD 1,214.45 per ounce at 0321 GMT, while US gold futures were up 0.7 percent, to USD 1,216.7. The dollar index edged lower 0.1 percent to to 99.540. The Fed kept interest rates unchanged on Wednesday in its first meeting since President Donald Trump took office, but painted a relatively upbeat picture of the US economy that suggested it was on track to tighten monetary policy this year. "I see gold being slightly bid in the short term as the dollar weakness continues … non-commercial longs speculating on the dollar index have been trimming their positions since the beginning of the year and the Fed appears to remain dovish or wait and see," said Nicholas Frappell, General Manager with ABC Bullion Spot gold may retest a resistance at USD 1,219 per ounce, as it has found a support at USD 1,197, according to Reuters technical analyst Wang Tao. "The sharp rebound after a pull down below USD 1,200 and the Asian pricing model, despite the Chinese New Year, seems favorable and we see a lot of bullish signals," said Spencer Campbell, General Manager with Kaloti Precious Metals, Singapore. "We are sort of eyeing the USD 1,225 levels in the next move if the metal breaks the recent highs of around USD 1,215 levels next week." The yellow metal gained more than 5 percent in January - its best month since June 2016 - as the dollar suffered its worst start to the year in three decades." "The global growth story seems to be improving immeasurably just as the political outlook grows increasingly cloudy across a number of geographies, which is why we are on balance, friendly to gold heading into a very uncertain year," said INTL FCStone analyst Edward Meir. Factories across the world fired up - or at least kept up - activity in January with some registering multi-year output highs, just as a barrage of political risks threatens the global economy with potential harm. Meanwhile, investors also turned their attention to a quarterly report from the Bank of England on Thursday. The BoE was expected to avoid adding to speculation about a first interest rate hike in nearly a decade, even as it acknowledges the resilience of Britain's economy since last year's Brexit vote shock. In other precious metals, spot silver rose 0.34 percent, to USD 17.57 per ounce, while platinum was up 0.35 percent, to USD 999.49. Platinum earlier touched USD 1004.6, a peak since Nov. 10, 2016. Palladium was mostly unchanged at USD 762.50 per ounce. If you want more information regarding the Market News & many other tips like Tradeindia Services , Intraday Tips , MCX Normal Calls , Indore Advisory Company , Bullion Market Tips , Share Market Services , NSE & BSE Market Tips , Free MCX Market Tips , MCX Premium Tips , Bullion Energy Tips , Commodity market tips , Give Miss call ☎ @ Toll Free Number 📲 18003157801
Oil steadied on Wednesday as Russia joined OPEC in cutting production to try to balance the market, although plentiful supply in places such as the United States dragged on prices. Oil steadied on Wednesday as Russia joined OPEC in cutting production to try to balance the market, although plentiful supply in places such as the United States dragged on prices. Brent crude futures, the international benchmark for oil prices, were trading at USD55.63 per barrel at 0749 GMT, up 5 cents from their last close. US West Texas Intermediate (WTI) crude futures rose 5 cents to USD52.86 a barrel. Prices reversed earlier falls after reports that Russia cut its oil and gas condensate production by around 100,000 barrels per day (bpd) between December and January, down to 11.11 million bpd. Russia's cuts are part of an effort led by the Organization of the Petroleum Exporting Countries (OPEC), of which Russia is not a member, to prop up the market and end a global fuel supply glut. As part of this, OPEC has said it will cut production by around 1.2 million barrels per day (bpd) in the first half of 2017. Other producers, including Russia, have pledged to cut another 600,000 bpd in output. A Reuters survey published on Tuesday showed that OPEC's output fell by over 1 million bpd in January to 32.27 million bpd between December and January. "That's a good start ... to cut production to bring the market back toward balance," said Greg McKenna, chief market strategist at futures brokerage AxiTrader. But McKenna added that there were still "some questions about whether or not OPEC will achieve its goals" to cut even deeper and for the full period of the first half of 2017. Traders said a reported climb in US crude inventories was also preventing oil prices from rising by much. "The release of the American Petroleum Institute's crude inventories at a much higher than expected 5.8 million barrels saw both Brent and WTI quickly give back ... gains," said Jeffrey Halley, senior market analyst future brokerage OANDA in Singapore. The API data showed that commercial US crude inventories now stood at 488 million barrels. Official US storage data from the Energy Information Administration (EIA) is due later on Wednesday. If you want more information regarding the Market News & many other tips like Tradeindia Services , Intraday Tips , MCX Normal Calls , Indore Advisory Company , Bullion Market Tips , Share Market Services , NSE & BSE Market Tips , Free MCX Market Tips , MCX Premium Tips , Bullion Energy Tips , Commodity market tips , Give Miss call ☎ @ Toll Free Number 📲 18003157801
The US Federal Reserve is expected to keep interest rates unchanged on Wednesday in its first policy decision since President Donald Trump took office, as the central bank awaits greater clarity on his economic policies. Gold held firm on Wednesday after hitting a one-week high in the previous session, as traders awaited a decision on interest rates by the US Federal Reserve, which is expected to keep policy on hold. FUNDAMENTALS * Spot gold was little changed at USD 1,210.79 an ounce by 0054 GMT. US gold futures climbed 0.1 percent to USD 1,209.70. * Spot gold rose over 5 percent in January, its best month since June 2016 * The US Federal Reserve is expected to keep interest rates unchanged on Wednesday in its first policy decision since President Donald Trump took office, as the central bank awaits greater clarity on his economic policies. * The dollar suffered its worst January in three decades after President Trump complained that every "other country lives on devaluation." * The comments intensified expectations that the new US administration was making moves to talk down the greenback just hours after Trump's top trade adviser, Peter Navarro, told the Financial Times that Germany is using a "grossly undervalued" euro to gain advantage over the United States and its own European Union partners. * US consumer confidence retreated from a 15-year high in January, likely as some of the election euphoria fizzled, but households remained upbeat about the labor market, suggesting that the economy would continue to grow this year. * Some of Wall Street's largest fund managers have taken a contrarian bet on gold, wagering that US President Donald Trump's governing style and upcoming elections in Europe will combine to create more stock market volatility and boost the prices of a metal long seen as a safe haven. * US private equity firm Orion Mine Finance Group is in talks to sell a portfolio of 87 mining royalty, streaming and offtake assets, Orion portfolio manager Douglas Silver said on Tuesday. * Britain's economy now looks set to slow only slightly in 2017 after its resilient response to last year's Brexit vote, but growth is still likely to be a lot weaker than if the country had decided to stay in the European Union, a think tank said. * Inflation in the euro zone has risen to just below the European Central Bank's target, economic growth is accelerating at greater speed than in the United States, and unemployment has hit a more than seven-year low. If you want more information regarding the Market News & many other tips like Tradeindia Services , Intraday Tips , MCX Normal Calls , Indore Advisory Company , Bullion Market Tips , Share Market Services , NSE & BSE Market Tips , Free MCX Market Tips , MCX Premium Tips , Bullion Energy Tips , Commodity market tips , Give Miss call ☎ @ Toll Free Number 📲 18003157801
Traders were also awaiting the US Federal Reserve's two-day meeting on monetary policy starting on Tuesday for cues on US interest rate hikes. Gold rose on Tuesday on increased safe haven demand as US President Donald Trump's tough stance on immigration rattled global markets, with prices finding further support from a weaker dollar. Traders were also awaiting the US Federal Reserve's two-day meeting on monetary policy starting on Tuesday for cues on US interest rate hikes. Spot gold rose 0.4 percent to USD 1,200.00 per ounce by 0307 GMT, while US gold futures edged up 0.5 percent to USD 1,199.6. The dollar index, which measures the greenback against a basket of currencies, was down 0.1 percent at 100.34. Asian shares were on the defensive on Tuesday as stringent curbs on travel to the United States ordered by President Donald Trump brought home to investors that he is serious about putting his radical campaign pledges into action. "There are talks that the ban could affect the tech and energy sectors and this suggests that there could be some growth challenges if the ban is prolonged, so the current risk aversion (driving gold markets) comes as no surprise," OCBC analyst Barnabas Gan said. Spot gold may edge up to USD 1,205 per ounce, as it has pierced resistance at USD 1,197, according to Reuters technical analyst Wang Tao. Traders were also eyeing a meeting of the US Fed on Tuesday and Wednesday. The Fed, which raised interest rates in December, has signaled as many as three rate rises in 2017. Higher rates could mean a higher US currency, which makes dollar-denominated gold more expensive for holders of other currencies, potentially dampening demand. "The market sentiment is for the Fed to stay pat in the upcoming meeting," Gan said. In other precious metals, spot silver was up 0.2 percent, at USD 17.14 per ounce, while platinum edged up by 0.5 percent, to USD 990.30. Palladium rose 0.7 percent, to USD 745.40 per ounce. If you want more information regarding the Market News & many other tips like Tradeindia Services , Intraday Tips , MCX Normal Calls , Indore Advisory Company , Bullion Market Tips , Share Market Services , NSE & BSE Market Tips , Free MCX Market Tips , MCX Premium Tips , Bullion Energy Tips , Commodity market tips , Give Miss call ☎ @ Toll Free Number 📲 18003157801
Hedge funds and money managers added to their bullish position in COMEX copper contracts for a third straight week, in the week to Jan. 24, lifting it to a record, US Commodity Futures Trading Commission (CFTC) data showed on Friday. Gold prices edged up on Monday, propped up by a weaker dollar and sluggish economic data from the United States, while the Lunar New Year holiday in Asia was seen limiting gains. FUNDAMENTALS * Spot gold was trading up 0.2 percent at USD1,193.70 per ounce by 0029 GMT. * US gold futures rose 0.4 percent, to USD1,193.20 an ounce. * The dollar index, which measures the greenback against a basket of currencies, was down 0.2 percent. * Gold demand in India improved, boosted by a fall in prices overseas, although some consumers are waiting in the hope that import duty will be cut in the government's budget. * Hedge funds and money managers added to their bullish position in COMEX copper contracts for a third straight week, in the week to Jan. 24, lifting it to a record, US Commodity Futures Trading Commission (CFTC) data showed on Friday. * Analysts have sharply scaled back expectations for gold prices this year after the metal's weak fourth-quarter performance, with the prospect of further US interest rate hikes and a bumper year for stocks weighing on interest in the metal. * Analysts have hiked their 2017 palladium price forecasts on expectations that reflationary policies in the United States will boost growth, and consequently car sales, this year, even as forecasts for other precious metals such as platinum are cut. * Societe Generale on Friday cut its gold price forecast to USD1,175 per ounce from USD1,275 per ounce for Q1 2017; to USD1,150 per ounce from USD1,300 per ounce for 2017. * US economic growth slowed sharply in the fourth quarter as a plunge in shipments of soybeans weighed on exports, but steady consumer spending and rising business investment pointed to sustained strength in domestic demand. * Mark Carney, who has spent much of his time in charge of the Bank of England trying to signal what the central bank is planning, will probably say next week that he doesn't know what its next move will be. If you want more information regarding the Market News & many other tips like Tradeindia Services , Intraday Tips , MCX Normal Calls , Indore Advisory Company , Bullion Market Tips , Share Market Services , NSE & BSE Market Tips , Free MCX Market Tips , MCX Premium Tips , Bullion Energy Tips , Commodity market tips , Give Miss call ☎ @ Toll Free Number 📲 18003157801
Gold prices inched up in the U.S. Friday as a a U.S. Federal Reserve meeting and jobs data are slated next week and are expected to set the tone, along with any comments from President Donald Trump. Gold for February delivery on the Comex division of the New York Mercantile Exchange gained 0.03% to $1.190.15 and on track to finish the week down a bit more than 1%. Also on the Comex, silver futures for March delivery rose 1.79% to $17.152 a troy ounce and copper futures gained 0.67% to $2.691 a pound. The Fed releases its latest review of policy on Wednesday with the Fed Rate Monitor Tool from Investing.com showing a nearly 95% think the central bank will hold pat. Investors took note of U.S. Bureau of Economic Analysis figures that said gross domestic product grew 1.9% in the fourth quarter of 2016, disappointing expectations for 2.2% and after a 3.5% growth rate in the three months to September. Separately, the Census Bureau said U.S. durable goods orders fell 0.4% in December, compared to expectations for a 2.6% gain. Core durable goods orders, which exclude transportation items increased by 0.5% last month, in line with expectations. Demand for gold weakened as sentiment on the greenback improved after Trump suggested the implementation of a 20% tax on Mexican goods to pay for a border wall, sparking concerns of a possible trade war between Mexico and the U.S. as Trump said a meeting to discuss a border wall and trade ties with counterpart President Enrique Pena Nieto would not happen as planned. If you want more information regarding the Market News & many other tips like Tradeindia Services , Intraday Tips , MCX Normal Calls , Indore Advisory Company , Bullion Market Tips , Share Market Services , NSE & BSE Market Tips , Free MCX Market Tips , MCX Premium Tips , Bullion Energy Tips , Commodity market tips , Give Miss call ☎ @ Toll Free Number 📲 18003157801
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