|Day's range||1,330.10 - 1,335.80|
A weak dollar, excessive optimism in the stock market and rising inflation may help send gold prices above $1,900 an ounce this year, surpassing the all-time high from 2011.
The US dollar has been volatile during the week, but as we close out the Friday session, it looks as if the market doesn’t know where to go next, in relation to the Canadian dollar. I think that the market continues to be difficult for longer-term traders, as there are so many moving pieces.
Investing.com - The Commodity Futures Trading Commission released its weekly Commitments of Traders report for the week ending January 16 on Friday.
The technical set-up is there. Now all we need is a catalyst. The catalyst is likely going to be the decision about the government shutdown.
Market report: Oil slips off multi-year highs as IEA predicts 'explosive' US shale growth in 2018
On January 12, 2018, gold prices hit a four-month high of $1,338.20 per ounce, and it ended the day at $1,333.40. The implied volatility in gold was 8.9%. Most of these gains were due to the steady decline in the price of the dollar. The US dollar (UUP), tracked by the DXY Currency Index (or DXY) was down 1.0% on January 12.
BENGALURU/MUMBAI (Reuters) - Gold demand in China firmed this week as retailers stocked up ahead of the Chinese New Year while price discounts widened in India, partly on expectations of a reduction in import duty in next month's budget. Spot gold prices, up by more than 5 percent in the past month, rose on Friday, helped by a weaker dollar amid worries about a possible U.S. government shutdown, but remained on course for a first weekly drop in six weeks. Gold was being sold at a premium of about $8 an ounce in China, compared with a range of $5-8 last week.
The Kiwi Dollar takes another hit after December manufacturing output growth slowed to the lowest level since December 2012, with UK retail sales to drive the Pound. For the Dollar, it’s all in the hands of the Senate with a government shut down likely to sink and already pressured Dollar.
Investing.com - Crude oil prices fell in Asia on Friday with fresh supply/demand and production figures on tap later in the day to set the tone.
Investing.com – Crude oil prices settled lower on Thursday as traders fretted over a sharp rebound in US production which offset data showing crude supplies fell for the ninth-straight week.
Investing.com – Gold prices eased from four-month highs as US yields rose sharply after strong growth data from China and amid expectations that inflation would soon gather pace.
Zacks Industry Outlook Highlights: Alamos Gold, Richmont Mines, Barrick Gold, Franco-Nevada and Sandstorm Gold
Jan 18 (Reuters) - Eastern Gold Jade Co Ltd: * SAYS ITS SHARES TO HALT TRADE ON JAN 19 PENDING ANNOUNCEMENT Source text in Chinese: http://bit.ly/2Df0YAT Further company coverage: (Reporting by Hong Kong ...
The Bitcoin markets continue to sell off, as retail traders are getting pummeled. Currently, it looks very likely that we will continue to see the unwind of the massive uptrend, and it now looks as if the bubble has popped.
The S&P 500 went sideways during most of the session on Wednesday, as we continue to see a lot of volatility. The 2800 level course has offered resistance, so I think that breaking above there is a very bullish sign, specially make a fresh, new high.
NEW YORK/LONDON (Reuters) - Gold was flat in a narrow range on Thursday, first dipping as the dollar rose and then rising as the dollar moved lower, but bullion's gains were limited by higher U.S. Treasury yields. Financial market players were concerned about a possible U.S. government shutdown, but this did not move gold very much. Spot gold was unchanged at $1,327.61 an ounce by 1:49 p.m. EST (1849 GMT).
Canada's main stock index ended higher on Wednesday, with financial stocks leading a broad but shallow rally as the Bank of Canada hiked rates, offsetting losses among gold miners as the price of the precious metal slipped. - The Toronto Stock Exchange's S&P/TSX composite index ended up 27.82 points, or 0.17 percent, at 16,326.70. Royal Bank of Canada added 0.5 percent to C$106.28, Bank of Montreal gained 0.7 percent to C$103.32, and Canadian Imperial Bank of Commerce finished up 0.5 percent to C$123.02 as they and other lenders moved their own benchmark lending rates up.
Goldcorp's (GG) preliminary full-year 2017 production results exceed its earlier guidance. Also, the company remains on track to achieve its 20/20/20 plan.