11/08/2019 | Gold Prices Sink Worst Since Trump's Election as Bond Yields Leap on US-China Trade Hopes and Stimulus Spending Promises
GOLD PRICES gave back an overnight $10 rally in London trade and then sank to new multi-month lows Friday, heading for the worst weekly plunge versus a rising US Dollar since November 2016 as 'safe haven' bonds also sank but world stock markets neared new record highs.
Trading down through $1460 to the lowest Dollar price since start-August, gold lost over 3.5% from last Friday's benchmarking in London's bullion market.
European stock markets slipped but headed for a 1.6% weekly rise, nearing their best Friday...Read more
GOLD PRICES fell $10 at the start of London trade Thursday, falling back near Tuesday's 3-week low of $1480 against a rising Dollar as both Beijing and Washington signalled that a US-China trade deal may be coming together.
Gold prices then bounced weakly from $1481 in Dollar terms as New York's stock markets followed global equities upwards and opened at a new all-time S&P500 record.
Major government bond prices in contrast fell with gold, driving 10-year US Treasury yields sharply higher to the most since end-...Read more
Trading in the gold market cooled last month as prices consolidated following a busy summer, according to the latest trade data from London Bullion Market Association.
The LBMA releases clearing statistics each month showing the net volume of gold and silver transferred between accounts of members, essentially providing a snapshot of the amount of trading activity.
The volume of gold ounces transferred daily in September fell by 18.8% month-on-month to 19.8 million ounces, the LBMA said.
11/01/2019 | Gold Prices Head for Highest Weekly Close in 6 Even as US Jobs and Corporate Earnings Beat Forecats
GOLD PRICES slipped but held on track for the highest weekly close in 6 after new data from the Bureau of Labor Statistics said the United States jobs market was stronger than analysts expected in October.
The S&P500 index of US equities headed for a new all-time high. Government bond prices were little changed, holding longer-term US yields down at 3-week lows after the sharp drop made on Wednesday's widely expected cut to short-term rates by the Federal Reserve.
Dropping $5 from 1-week highs at $1514 per ounce...Read more
Gold prices are moderately lower in midday U.S. trading Monday, pressured by rallying U.S. equities that see the stock indexes hitting record highs today. Some profit taking from the shorter-term futures traders was also featured to start the trading week, following recent gains.
However, Tuesday is a new day and focus will be on the FOMC meeting whose results could favor the metals market bulls. Also, the downside in gold and silver markets will likely be limited as their technical chart postures remain overall bullish. December gold futures...Read more