|Day's Range||1,295.5 - 1,307.901|
|52 Week Range||1,295.4995 - 1,307.9008|
Investing.com – Gold has a new nemesis in the form of U.S. jobs numbers to beat it down, while palladium proved its record-making streak just cannot be stopped.
Investing.com – Stocks on Wall Street surged Friday but were slightly off their highs after the Labor Department reported a larger-than-expected gain on nonfarm payrolls and a decline in the jobless rate.
Investing.com -- Gold prices tumbled on Friday after a stronger-than-expected U.S. labor market report sent risk assets soaring and drained money from havens.
As far as today’s Non-Farm Payrolls report is concerned, the headline number will have to completely miss the estimate to shake up the gold trade. With the Fed not expected to make a move on rates until perhaps March 2020, the main focus for gold traders will be on the trade deal.
In November, Lagarde delivered her first speech as the ECB President. Will she follow in Draghi’s footsteps? But what should gold investors expect from her?
Gold is a safe-haven instrument that measures uncertainty, fear, greed and the future expectations related to a secure global market economy.
Investing.com – Prices of the safe-haven gold fell on Friday in Asia as traders continued to monitor Sino-U.S. trade news.
Gold markets bounced just a bit during the day on Thursday, but not enough to get traders excited. At this point it’s obvious that the markets are continuing to measure the global economy and of course the Federal Reserve.
Investing.com – Palladium, the auto-catalyst metal in short supply, stayed on its record-breaking spree on Thursday as its shinier cousin gold edged higher by remaining doggedly on the trail of the U.S.-China negotiations.
Investing.com -- Gold prices edged higher on Thursday but were essentially rangebound in the absence of major new developments in the U.S.-China trade war.
Investing.com – Wall Street was flat on Thursday as upbeat jobs data and optimism over trade failed to make any material impact.
The odds are that it’s not, and that we’re actually seeing a business-as-usual kind of situation. That is if one knows the details of the gold trading business.
Risk sentiment returned on Wednesday, with the S&P500; back up 0.8% heading into the close and US 10-year yields up 6bps to 1.77%. The latest iteration in the trade talk saga suggests that the US President’s lack of urgency on trade negotiations should not be interpreted as a stall in the talks.
Based on yesterday’s price action and the current price at $1482.50, the direction of the February Comex gold futures contract the rest of the session on Thursday is likely to be determined by trader reaction to the Fibonacci level at $1477.30.
Investing.com - U.S. futures pointed to another day of gains on Wall Street, with belief in a near-term trade deal reviving again after Tuesday's shock comments by President Donald Trump.
Gold markets initially tried to rally during the trading session on Wednesday but ran into a significant amount of noise near the $1490 level to turn around completely. At this point, gold looks very vulnerable.
Investing.com - Rising oil prices boosted energy stocks, and hopes yet again that a phase one trade deal will finally be struck between the United States and China lifted the rest of the stock market on Wednesday.
Investing.com – The Trump administration’s trade ping-pong with the Chinese is back to haunt gold bulls. Gold backed off from four-week highs on Wednesday as markets returned to a risk-on mode after Trump Administration officials said the U.S. remained in talks with the Chinese, just a day after President Donald Trump said a deal was unlikely until after 2020.
Today’s ISM services PMI report is expected to come in at 54.5, down slightly from 54.7. This report could drive gold prices lower if it comes in well above expectations.