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Gold scores a bounce after cooler-than-expected retail-sales report

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“Gold prices climbed on Wednesday as investors watched global political news surrounding trade and Brexit, and reacted to a weaker-than-expected reading of U.S. retail sales, which spurred some haven buying” writes Markets Commodities Reporter for marketwatch.com. Gold for December delivery on Comex GCZ19, +0.62%  rose $8, or 0.5%, to reach $1,491.50 an ounce, after declining 0.9% on Tuesday to the lowest most-active contract settlement since Sept. 30, according to FactSet data. Source: marketwatch.com

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Markets News 

Gold posts lowest close so far this month as investors weigh trade deal, earnings season

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“Gold prices declined on Tuesday to mark their lowest settlement month to date, as investors awaited clarity on U.S.-China trade talks and as earnings season starts on a positive note” writes Saefong William Watts for marketwatch.com. Higher yields on government debt can weigh on assets like gold that offer no yield.Some “analysts are expecting this earnings season to be the worse in recent times,” James Hatzigiannis, senior strategist at Long Leaf Trading Group, told MarketWatch. “With such low expectations from analysts and their estimate numbers, it will be easy for…

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Markets News 

Gold heads for lowest finish so far this month as investors weigh trade deal, earnings season

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“Gold prices declined on Tuesday, headed for their lowest settlement month to date, as investors awaited clarity on U.S.-China trade talks and as earnings season starts on a positive note” writes Saefong William Watts for marketwatch.com. Higher yields on government debt can weigh on assets like gold that offer no yield.December silver SIZ19, -1.58%  gave up 28.5 cents, or 1.6%, to trade at $17.425 an ounce. “Gold traded above the $1,490 an ounce, supported by softer sovereign yields.Some “analysts are expecting this earnings season to be the worse in recent…

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GBP Markets News 

Gold steadies before Brexit summit, palladium hits record high

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“The United States on Friday outlined the first phase of a trade deal and suspended this week’s scheduled tariff hikes on Chinese goods” reports cnbc.com. “We’ve had the initial lukewarm response to phase one of the trade deal … the risk of profit-taking in gold has not really emerged.Gold steadied on Tuesday, moving in a tight range, after hopes of progress in U.S-China trade talks were tempered and ahead of a summit that will determine how Britain leaves the European Union.U.S. gold futures rose 0.1% to $1,498.40. Source: cnbc.com

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Gold settles higher, extends gains in electronic trade after Fed minutes

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“Gold prices climbed on Wednesday to snap a three-session streak of declines, as traders eyed developments ahead of U.S.-China trade talks” writes Markets Commodities Reporter for marketwatch.com. Prices then extended those gains in electronic trading after minutes from the Federal Open Market Committee’s September meeting showed that Fed officials had grown more worried about the economy.In electronic trading, gold for December delivery GCZ19, +0.63% was at $1,513 an ounce shortly after the meeting minutes. The contract had climbed by $8.90, or 0.6%, to settle at $1,512.80 an ounce on Comex,…

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Gold prices get a boost as China-U.S. trade-deal uncertainty grows

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“December gold GCZ19, +0.47% on Comex rose $6.10, or 0.4%, at $1,510.50 an ounce, after shedding 0.6% on Monday” writes Mark Decambre for marketwatch.com. Gold prices headed higher early Tuesday, as doubts about a near-term resolution between the world’s largest economies hurt demand for assets perceived as risky and fed appetite for haven assets, including bullion.December silver SIZ19, +1.40% added 7 cents, or 0.4%, to $17.610 an ounce, after declining 0.5% in the previous session. Source: marketwatch.com

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Gold gains on weak US economic data, investors eye jobs report

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“Gold prices rose for a fourth straight session on Friday as weak U.S. economic data fanned fears over sluggish growth, with investors awaiting a key jobs report that could cement expectations for further rate cuts by the Federal Reserve” reports cnbc.com. U.S. services sector activity slowed to a three-year low in September amid rising concerns about tariffs, a survey showed on Thursday, following a string of poor economic data earlier this week.”If we see weaker than expected non farm payroll data as well, that will support gold prices and the…

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Futures News Stocks 

Gold futures settle back above $1,500 as weaker-than-expected economic data boosts haven demand

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“Gold futures climbed on Wednesday to settle back above $1,500 an ounce for the first time in three sessions, as weaker-than-expected U.S. economic data pressured U.S. benchmark stock indexes, lifting demand for the haven metal” writes Markets Commodities Reporter for marketwatch.com. The private sector added a smaller-than-expected 135,000 jobs in September, according to ADP. December gold GCZ19, +1.03% rose $18.90, or 1.3%, to settle at $1,507.90 an ounce. Source: marketwatch.com

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Gold falls to near two-month low as robust dollar weighs

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“China and the United States are due to resume high-level trade talks next week in Washington” reports cnbc.com. Gold prices fell to a near two-month low on Tuesday, weighed down by a stronger dollar, while hopes of progress in the U.S.-China trade talks lifted equity markets in a further hit to the bullion’s appeal.Spot gold was down 0.4% at $1,465.80 per ounce, as of 0456 GMT, after declining to its lowest since Aug. 6 at $1,462.44 earlier in the session.U.S. gold futures were 0.1% lower at $1,471.80 per ounce. Source: cnbc.com

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Gold prices on track to finish below 50-day moving average for first time since May

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“The decline puts bullion on track to settle below its 50-day moving average at $1,500.83 an ounce, which it hasn’t done since late May, according to FactSet data, based on most-active contracts” writes Mark Decambre for marketwatch.com. The ICE U.S. Dollar Index DXY, +0.25%, a measure of the buck against a half-dozen rival currencies, was trading around a two-year high on Monday.Gold for December delivery GCZ19, -2.00% trading on Comex was down $30.10, or 2%, to $1,476 an ounce, after losing 0.6% last week. Source: marketwatch.com

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