Market News

  • Market News - Gold Service

    05/16/2019 | Gold Prices Sink Lower Following Upbeat U.S. Housing Construction Data

    Gold remain under pressure, falling to session lows Thursday following data showing that the U.S. housing construction saw an uptick in momentum.

    The Commerce Department’s latest report showed that U.S. housing starts rose 5.7% in to a seasonally adjusted annual rate of 1.24 million units in April. The data was slightly better than expected with consensus forecasts called for starts to be around 1.21 million.

    Along with the positive headline data, the report noted that March housing starts were revised up to 1.168...

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  • Market News - Gold Service

    05/08/2019 | Gold Prices Touch 3-Week High as Iran and China Push Back Against US Demands

    GOLD PRICES popped to 3-week highs against the US Dollar on Wednesday as Iran pushed back against US sanctions over its nuclear program and new data showed exports of Chinese goods slumping amid the ongoing US-China trade dispute.

    European stock markets edged higher overall but Asian equities closed sharply lower for the day, extending yesterday's near-2% drop on Wall Street.

    Writing to China, France, Germany, the UK and also the European Union, "This is to save the [deal] not destroy it," said Iran's leader Hassan...

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  • Market News - Gold Service

    05/03/2019 | Gold Prices Bounce $5 as US Jobless Rate Hits New 50-Year Low, Q1 Physical Demand Weakest Since 2016

    GOLD PRICES bounced $5 per ounce higher from near 4-month lows in London trade Friday as new US data put the jobless rate in the world's largest economy at a fresh half-century low.

    With non-farm payrolls expanding by 263,000 in April against the 185,000 consensus forecast from analysts, the US unemployment ratefell to 3.6%, its lowest since December 1969.

    Average wage growth failed to rise however, holding at March's annual pace of 3.2%.

    Gold priced in the US Dollar cut its drop for the...

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  • Market News - Gold Service

    04/30/2019 | Societe Generale resigns as London gold and silver market maker

    The London Bullion Market Association (LBMA) said Societe Generale had resigned as a market maker for gold and silver, as France's third-largest bank pushes ahead with a downsizing of its commodities business.

    SocGen said this month it would cut 1,600 jobs to boost profits after poor performance last year and will exit over-the-counter commodities trading. SocGen declined to comment.

    In over-the-counter trading deals are done bilaterally between banks and brokers rather than on a financial exchange. London is the...

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  • Market News - Gold Service

    04/29/2019 | Gold Edges Up On Equity Blip, Market Eyes Data, Fed

    Gold edged up on Tuesday as Asian shares fell ahead of the release of a raft of economic data and the U.S. Federal Reserve’s two-day meeting which will decide the trajectory of interest rates.

    FUNDAMENTALS

    * Spot gold was up 0.2 percent at $1,281.95 per ounce at 0123 GMT.

    * U.S. gold futures were up 0.2 percent at $1,283.90 an ounce.

    * Shares in Asia fell on Tuesday morning despite another record high close for the S&P 500, as investors look to a U.S. Federal...

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