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Gold Under Pressure, ADP Nonfarm Payrolls Slides

Gold has posted slight losses on Wednesday, continuing the small downward movement which marked the Monday and Tuesday sessions. Gold is trading at a spot price of $1279.42 an ounce in the North American session.  On the release front, ADP Nonfarm Payrolls dropped sharply to 156 thousand, well short of the estimate of 205 thousand. ISM […]

Gold Steady, ADP Nonfarm Payrolls Next

Gold is steady on Tuesday, continuing the lack of movement which marked the Monday session. Gold is trading at a spot price of $1286.86 an ounce in the North American session. On the release front, IBD/TIPP Economic Optimism improved to 48.7 points, but this still indicates pessimism. There are no major US releases on Tuesday. We’ll get a […]

Gold Punches Above $1300 Level

Gold is steady on Monday, as the metal has paused from Friday’s strong gains. Gold is trading at a spot price of $1295.42 an ounce in the North American session. On the release front, it’s a quiet start to the new trading week. The key event of the day, ISM Manufacturing PMI, posted a weak reading of […]

Gold Rises as Fed Holds Rates With no Hike in Sight

After three straight years of losses, analysts are finally prepared to say gold prices have found a bottom, with rising prices seen this year and next as concerns over the pace of U.S. monetary policy tightening fade. Gold analysts polled by Reuters have hiked their forecasts for the precious metal by nearly $100 an ounce […]

Gold Steady, Fed Rate Statement Next

Gold has posted slight gains on Wednesday, continuing the upward trend which has marked the past two daily sessions. Gold is trading at a spot price of $1248.13 an ounce in the North American session. On the release front, Pending Home Sales looked sharp, easily beating expectations with a gain of 1.4%. Today’s highlight is Federal Reserve’s […]

Gold Higher, Markets Eye FOMC Meeting

Gold has posted slight gains on Monday, reversing the downward trend which marked the Friday session. Gold is trading at a spot price of $1240.75 an ounce in the North American session. On the release front, there is only one US event on the calendar. New Home Sales came in at 511 thousand, short of the estimate. On […]

Gold Gains Continue as Markets Digest Failed Oil Summit

Gold has posted slight gains on Wednesday, continuing the upward trend which marked the Tuesday session. Gold is trading at a spot price of $1254.20 an ounce in the North American session. On the release front, US Existing Home Sales improved to 5.33 million, above the estimate of 5.29 million. Crude Oil Inventories dropped to 2.2 million, […]

Gold Jumps as US Housing Data Dips

Gold has posted small gains on Tuesday, reversing  the downward trend which marked the Monday session. Gold is trading at a spot price of $1254.10 an ounce in the North American session. On the release front, US Building Permits and Housing Starts both softened in March. On Wednesday, the US releases another key housing indicator, Existing Home […]

Gold Steady to Start off Week

Gold has posted small gains on Monday, reversing  the upward trend which marked the Friday session. Gold is trading at a spot price of $1234.90 an ounce in the North American session. On the release front, the NAHB Housing Market Index was unchanged at 58 points, within expectations. As well, FOMC member William Dudley spoke at event in […]

Gold Drop Continues on Stellar US Jobless Claims

Gold is lower on Thursday, continuing the downward trend which marked the Wednesday session. Gold is trading at a spot price of $1227.20 an ounce in the North American session. On the release front, CPI and Core CPI both posted small gains of 0.1%, short of their estimates. US Unemployment Claims dropped sharply to 253 thousand, […]

Gold Dips, Markets Eye US Consumer Inflation Reports

Gold is subdued on Wednesday, continuing the downward trend which marked the Tuesday session. Gold is trading at a spot price of $1245.33 an ounce in the North American session. On the release front, US retail sales and PPI reports disappointed, with all three events missing their estimates. The EIA Crude inventories posted a surplus of […]

APAC Currency Corner – Commodities on Fire

Aussie Dollar The Aussie was on fire overnight. Traders took cues from firming global equities with commodities prices gaining a foothold amid a broad commodity rally. It was a classic risk-on rally. Iron ore touched the USD 60.00 per ton handle as traders speculated on a pickup in demand from Chinese steel mills. China’s economy […]

Gold Unchanged, US Retail Sales, PPI Next

Gold is subdued on Tuesday, following solid gains in the Monday session. Gold is trading at a spot price of $1256.08 an ounce in the North American session. On the release front, there are no major US indicators on the schedule. The NFIB Small Business Index beat expectations, while Import Prices missed the estimate. On Wednesday, there are […]

Strong Gold Pushes to 3-Week Highs

Gold has started the new trading week with gains. In Monday’s North American session, gold is trading at a spot price of $1258.12 an ounce. On the release front, it’s a very quiet start to the week. There are no US economic indicators on Monday, but the markets will have a few cues during the day. US Treasury Secretary […]

Week Ahead in FX: USD Mixed Ahead of Retail Sales Data

Dovish FOMC Minutes Depreciated Dollar Before Global Risk Appetite Drop Brought it Back The USD struggled all week to string gains against majors on the back of mixed economic data. The U.S. trade balance showed a higher tan forecasted deficit (-47.1 billion) and a decrease of job openings (5.45 million) put downward pressure on the […]

Gold Rises as Markets Digest Dovish Fed Minutes

Gold has posted gains on Thursday, reversing the downward movement which marked the Wednesday session. In the North American session, gold is trading at a spot price of $1238.03 an ounce. On the release front, US Unemployment Claims dropped to 267 thousand, below the estimate. Later in the day, Fed chair Janet Yellen will deliver remarks in […]

Gold Subdued as Markets Eye Fed Minutes

Gold has posted small losses on Wednesday, reversing the upward movement which marked the Tuesday session. In the North American session, gold is trading at a spot price of $1225.80 an ounce. On the release front, the EIA Crude Inventory report showed a sharp decline of 4.9 million barrels. Later in the day, the Federal Reserve […]

FX5: Yen Bull Eyes ¥105

Five things the markets are talking about Yesterday, global equities came under renewed pressure with investors having a plethora of reasons why to choose from, ranging from an overbought stock market, suspect earnings reports, weakening oil prices, U.S. treasury department stunning the Street with new inversion rules, weaker German factory orders, a strengthening Yen and […]

Gold Rebounds, US Services PMI Rises

Gold has posted gains on Tuesday, reversing the downward movement in the Monday session. In the North American session, gold is trading at a spot price of $1229.64 an ounce. On the release front, the US trade deficit widened and missed expectations. ISM Non-Manufacturing PMI climbed to 54.3 points, slightly above the estimate. On the employment front, […]

Gold Subdued, Markets Eye Services PMI

Gold is showing limited movement on Monday. In North American trade, gold is trading at a spot price of $1215.47 an ounce. On the release front, it’s a quiet start to the week. US Factory Orders slipped by 1.7 percent, lower than the forecast of a decline of 1.5 percent. On Tuesday, the US releases the […]

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