|Day's Range||0.001 - 0.001|
|52 Week Range||0.000757 - 0.000764|
Investing.com – Gold drifted lower as the dollar strengthen amid expectations that the Federal Reserve will hikes rates next week for the first time this year.
Gold prices moved lower sliding through support levels, as a stronger dollar eroded the value of the yellow metal. This comes despite a softer than expected housing starts report, which weighed on U.S. yields. Softer than forecast inflation data reported in the Eurozone on Friday, paved the way for lower gold prices. Gold prices edged through an upward sloping trend line which is now seen as short-term resistance near 1,316.
The S&P 500 was up nine points or 0.33% to 2,756.42 as of 9:42 AM ET (13:42 GMT) while the Dow composite increased 54 points or 0.22% to 24,927.85, and tech heavy NASDAQ Composite rose 18 points or 0.25% to 7,500.55.
Investing.com - Gold prices were little changed on Friday, still hovering near recent two-week lows even as disappointing U.S. economic reports and fresh turmoil in Washington pushed the greenback lower.
Investing.com – U.S. Futures pointed to a flat opening bell on Friday, as a potential trade war weighed on investors minds.The S&P 500 futures rose a point and a half or 0.05% to 2,756.75 as of 6:43 AM ET (10:43 GMT) while Dow futures decreased 17 points or 0.07% to 24,907.0. Meanwhile tech heavy Nasdaq 100 futures was down two points or 0.03% to 7,08.25.U.S. President Donald Trump has decided to fire national security adviser H.R. McMaster, according to the Washington Post. It’s the latest in a string of White House fires and resignations. ...
Based on the early price action, the direction of the gold market the rest of the session is likely to be determined by trader reaction to $1318.30.
Investing.com - Gold prices were hovering near 2-week lows on Friday, but losses could be limited as fresh U.S. political woes weighed on the dollar and as fears of potential trade wars lingered.
Gold traders may be eyeing a report that Trump is getting ready to oust national security advisor H.R. McMaster.
Markets rolled over during trading on Thursday, as we continue to see a lot of noise in the world’s financial markets. The gold markets of course are very sensitive to risk appetite, and it is most certainly negative during Thursday trading.
Gold prices moved lower on Thursday testing support as the dollar gained traction against most major currencies. Yields in the U.S. moved higher versus their counterparts, following a stronger than expected U.S. import price report.Technicals
The S&P 500 was up half a point or 0.01% to 2,749.88 as of 9:44 AM ET (13:4 GMT) while the Dow composite increased 20 points or 0.08% to 24,778.72, and tech heavy NASDAQ Composite fell seven points or 0.10% to 7,489.23.
Investing.com - Gold prices turned lower on Thursday, as the release of mostly positive U.S. data pushed the greenback higher, although concerns over protectionist U.S. policies and fresh turmoil in Washington continued to linger.
Investing.com – U.S. Futures were mixed on Thursday, as investors remained wary of a potential trade war.The S&P 500 futures rose half a point or 0.02% to 2,754.50 as of 6:42 AM ET (10:42 GMT) while Dow futures increased 26 points or 0.10% to 24,814.0. Meanwhile tech heavy Nasdaq 100 futures was down three and a half points or 0.05% to 7,054.50.Trade war concerns have resurfaced among investors, as U.S. President Donald Trump considered imposing tariffs on up to $60 billion of Chinese imports. ...
Traders are trying to determine which way they want to play gold in an environment that features rising interest rates, political uncertainty in the Trump administration and renewed worries about trade wars.
Investing.com - Gold prices held steady on Thursday, hovering close to one-week highs as the previous session's mixed U.S. data and political turmoil in Washington continued to pressure the dollar and support safe-haven demand.
Forex produces a rather choppy trading on Wednesday, but the U.S Dollar was fractionally stronger against the Euro and Pound. Gold produced a consolidated session yesterday.
Gold markets were negative during the trading on Wednesday after initially trying to rally. The markets were very noisy in general, so it makes sense that we continue to see a lot of gyrations in this contract.
Investing.com – Gold prices traded roughly flat Wednesday as the precious metal struggled to capitalize on dollar weakness despite weaker economic data and growing fears that Trump’s wish to slap tariffs on Chinese production could trigger a trade war.
The S&P 500 was up four points or 0.15% to 2,769.38 as of 9:42 AM ET (13:42 GMT) while the Dow composite increased 13 points or 0.06% to 25,020.89, and tech heavy NASDAQ Composite rose six points or 0.09% to 7,517.83.
Investing.com - Gold prices held steady near one-week highs on Wednesday, after the release of mixed U.S. economic reports and as investors remained cautious after the sudden firing of U.S. Secretary of State Rex Tillerson.
U.S. President Donald Trump is considering imposing tariffs on up to $60 billion of Chinese imports, Reuters reported. The tariffs would be largely directed at technology and telecommunications sectors.
Investing.com - Gold prices were hovering near one-week highs on Wednesday, as investors remained cautious after the sudden firing of U.S. Secretary of State Rex Tillerson.
Investing.com – Gold prices rose on Wednesday, hitting a one-week high as dollar continued to weaken on mounting concerns over U.S. protectionism.
The U.S Dollar turned weaker when U.S inflation data via the Consumer Price Index was only able to meet its rather unimpressive estimates.
The surprise dismissal of Tillerson has brought up the topic of protectionism again and this may be underpinning the gold market. Additionally, there are reports that President Trump is planning to implement hefty tariffs on Chinese imports.