Markets News 

Gold slips for sixth session as dollar firms

“Gold eased for a sixth straight session on Friday, having slipped to a one-year low in the previous session, as the U.S. dollar firmed” writes unknown author for cnbc.com. Spot gold was down 0.2 percent at $1,219.28 an ounce at 0127 GMT. In the previous session, it fell to its weakest since early July last year at $1,211.08 an ounce.The dollar index, which measures the greenback against a basket of six major currencies, was 0.1 percent higher at 95.129.Fed Chairman Jerome Powell in a two-day congressional testimony said he believed…

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Gold pares losses, but still ends at 1-year low, in correction territory

“Gold prices erased much of their earlier losses on Thursday, but still finished at a one-year low, as President Donald Trump voiced his displeasure with Federal Reserve rate increases, prompting a decline in the benchmark dollar index” writes Markets Commodities Reporter for marketwatch.com. The settlement marked gold’s entry into correction territory—down more than 10% from its peak on Jan. 15 at $1,362.90.A popular fund used to bet on gold’s moves, SPDR Gold Shares GLD, -0.25% was down 0.2%, trading around 1.3% lower for the week.August gold GCQ8, -0.08%  declined by…

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Gold News Reviews 

Gold Daily Review July 19, 2018

Gold Daily Review for July 19, 2018 Technical Outlook for GBP/USD, EUR/USD, Gold Price & More (Video) Today, we looked at continued strength in the USD versus a few key currencies, gold’s break of big support, and a few other key markets. -Subscribe to DailyF…   Gold Vulnerable to Further Losses as Bearish Momentum Gathers Pace Recent price action in gold raises the risk for a further decline in the precious metal as the bearish momentum appears to be gathering pace.   Gold pulls away from 12-month lows, steadies near…

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Gold inches higher as US dollar eases

“Gold prices rose slightly early Thursday, after hitting a one-year low in the previous session, as the U.S. dollar eased off a three-week high” reports cnbc.com. Spot gold was up 0.1 percent at $1,227.55 an ounce at 0058 GMT. The metal fell to its lowest since mid-July 2017 at $1,220.81.The dollar index, which measures the greenback against a basket of six major currencies, was down 0.1 percent at 95.022 after hitting a three-week high of 95.407 on Wednesday.U.S. gold futures for August delivery were little changed at $1,227.40 an ounce. Source:…

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Gold prices give up earlier losses to settle higher

“The benchmark U.S. dollar index held onto a gain, but traded near the day’s lows after U.S. Federal Reserve Chairman Jerome Powell appeared before the House Financial Services Committee for a second day of testimony” writes Markets Commodities Reporter for marketwatch.com. Both gold and the dollar are “still caught up in syndrome dictated by dovish interest rate policy across both oceans, while the U.S. continues to raise rates,” said Michael Kosares, founder of gold broker USAGOLD. August gold GCQ8, +0.00% rose 60 cents, or less than 0.1%, to settle at…

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Warship ‘carrying $130 BILLION worth of GOLD’ found off SKorea…

“The gold reserves of various other ships that were damaged in the battle could have been transported to the warship as well” writes Laura Mowat for express.co.uk. The warship would have taken part in the Battle of Tsushima which saw Russia defeated by Japanese warships.It is thought that the battle ship, which was discovered off the island of Ulleungdo, was sunken during the Russo-Japanese War and could have had the gold of an entire flotilla on board. Source: express.co.uk Share This:

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Gold News Reviews 

Gold Daily Review July 18, 2018

Gold Daily Review for July 18, 2018 Trading Outlook for Gold Price, US & UK Crude Oil, DAX, Dow Jones & More This morning we looked at gold trading around major trend support, the downdraft in US & UK crude oil contracts, and the outlook for a   Gold Price Analysis: Downtrend in Control, Retail Heavily Long Spot gold continues to probe the December 2017 low and is likely to come under further selling pressure when Fed Chair Jerome Powell speaks later.   Trading Outlook for Gold Price, US &…

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News Regulators 

Gold steady as dollar firms on US Fed rate outlook

“The stronger dollar following Powell’s comments was weighing on gold prices, said Yuichi Ikemizu, Tokyo branch manager at ICBC Standard Bank” reports cnbc.com. As long as this trend continues … it’s a pretty tough situation for commodities,” Ikemizu said.”People are selling emerging markets, commodities and buying the dollar as it seems to be the most stable investment.Gold prices on Wednesday held steady near a one-year low hit in the previous session, as the dollar firmed after Federal Reserve Chairman Jerome Powell’s U.S. economic outlook reinforced views the central bank is…

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News 

Things may get a lot worse before they get better for gold

“Putting aside the technical levels, the gold trade now is akin to the dollar trade so just be wary of that” reports forexlive.com. A good example of that is looking at how closely gold traces the inverse movement in USD/CNH since the start of the year:. And in overnight trading, price fell below the December low @ $1,236.55 and since then it’s been a continued push lower.Gold is now trading at the lows for the day down 0.4% as the greenback maintains its advance, and looks set to move towards…

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Japan shares jump as yen bows to strong dollar

“MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.16 percent and South Korea’s market 0.85 percent” writes Midwest Communications Inc for 95kqds.com. Powell’s support for more rate hikes sent two-year Treasury yields to the highest in nearly a decade and lifted the dollar broadly.SYDNEY (Reuters) – Asian shares followed Wall Street higher on Wednesday as a bullish outlook from the head of the U.S. central bank buoyed the dollar, lifted Tokyo shares to a one-month top and sent gold to a one-year trough.Against a basket of currencies, the dollar…

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