GC=F - Gold Aug 20
| Pre. Settlement | N/A |
| Settlement date | 2020-08-27 |
| Open | 1,732.70 |
| Bid | 1,742.10 |
| Last price | 1,728.30 |
| Day's range | 1,725.30 - 1,754.50 |
| Volume | 147,014 |
| Ask | 1,744.10 |
- FX Empire
GBP/JPY Weekly Price Forecast – British Pound Resilient Against Yen
The British pound has rallied a bit during the week, breaking above the ¥132 level. The market is likely to see noise above, perhaps extending to the ¥135 level.
- FX Empire
EUR/USD Weekly Price Forecast – The Euro Explodes to The Upside
The Euro exploded to the upside during the week, breaking above the 1.11 level. However, we are reaching some significant resistance just above.
- Reuters
Asia gold: Top hubs struggle as customers continue to keep away
Asian physical gold hubs struggled to regain footing this week as most retail customers stayed away even as some coronavirus restrictions were eased. In Hong Kong, which has been reeling from protests over a national security legislation being introduced by China, premiums were unchanged at $0.50-$1.75 per ounce. "Many potential customers aren't stepping out due to fears of getting infected," said Devi, who opened shop this week.
- FX Empire
Daily Gold News: Friday, May 29 – Gold at Yesterday’s High
The gold futures contract gained 0.09% on Thursday, as it extended its consolidation following bouncing off $1,700 support level on Wednesday. Gold has been trading within a downward correction after reaching new monthly high of $1,775.80 on Monday almost two weeks ago. Gold is 0.6% higher today, as it gets back to yesterday’s high.
- FX Empire
Silver Price Daily Forecast – Silver Gets To New Highs
Silver breached the resistance at $17.50 and continues to gain upside momentum.
- FX Empire
USD/JPY Price Forecast – US Dollar Pulls Back Toward Support Against Yen
The US dollar fell a bit during the trading session on Friday, reaching towards the ¥107 level, an area that has been supportive as of late.
- FX Empire
AUD/USD Price Forecast – Australian Dollar Trying to Break Out
The Australian dollar has initially dropped during the Friday session only to turn around and break towards the highs again.
- Zacks
Gold Glitters on Simmering US-China Tensions: 5 Picks
China's alteration of human rights policies has reignited US-China tensions, forcing investors to rush to safe-have assets like gold.
- FX Empire
Price of Gold Fundamental Daily Forecast – Trump’s Announcement, China’s Response Sets the Tone
U.S. President Donald Trump is expected to announce moves to pressure Beijing over its treatment of Hong Kong.
- FX Empire
U.S. Stocks Mixed Ahead Of Trump’s News Conference On China
S&P; 500 futures are flat in premarket trading as hopes about economic recovery are offset by worries about sanctions on China.
- FX Empire
Oil Price Fundamental Daily Forecast – Worsening US-China Relations Likely Source of Impending Volatility
The wild price swings seem to be behind us, but the market is still vulnerable to a steep retracement of the recent rally.
- Coindesk
Bitcoin Rally Falters as Stocks Drop Ahead of Trump’s China Speech
Bitcoin's bulls are taking a breather as the traditional markets get the jitters over rising tensions between the U.S. and China.
- FX Empire
Will the Fed Trigger Inflation This Time, Boosting Gold?
During Great Recession, many people feared that the Fed’s quantitative easing would trigger inflation, or even hyperinflation. As we know, it didn’t happen.Why?
- Reuters
Gold gains 1% on uncertainty over Trump's response to China
Spot gold climbed 0.9% to $1,734.60 per ounce by 12:42 p.m. EDT (1642 GMT). U.S. gold futures rose 1.3% to $1,750.20. "Markets are now strictly focused on the two largest economies and what is likely going to be a long, drawn-out battle," said Edward Moya, a senior market analyst at broker OANDA.
- Investing.com
Stocks - US Futures Lower; Consolidating Ahead of Trump Speech
U.S. stocks are set to open lower Friday, consolidating ahead of a key statement from President Donald Trump about his administration’s response to China strengthening its grip on Hong Kong. At 07:00 AM ET (1100 GMT), S&P 500 Futures traded 8 points, or 0.3%, lower, Nasdaq Futures down 19 points, or 0.2%. The Dow Futures contract fell 102 points, or 0.4%.
- Reuters
Canada's CIBC lost $64 million in a day on paper in gold market turmoil
Canadian Imperial Bank of Commerce (CIBC) took a mark-to-market trading loss of C$88.2 million ($64 million) in one day in March due mainly to volatility in the gold market, the bank said in its second-quarter earnings report on Thursday. CIBC is not alone in being caught out when the coronavirus outbreak interrupted gold supply routes and gold futures prices in New York shot above London spot prices. CIBC said the loss happened on March 24 and was "mostly attributable to our precious metals trading business".
- FX Empire
Gold Price Futures (GC) Technical Analysis – Potentially Bearish Secondary Lower Top May Be Forming
We’re going to be watching trader reaction and order flow at $1728.70 into the close. This should tell us if the selling is getting stronger.
- FX Empire
Silver Price Forecast – Silver Markets Continue to Pound Into Resistance
The silver markets rallied a bit during the trading session on Thursday, reaching towards the $18 level.
- FX Empire
Crude Oil Price Update – Reaction to $32.77 Pivot Sets the Tone into the Close; EIA Says Crude Stocks Rose
The direction of the July WTI futures contract the rest of the session on Thursday is likely to be determined by trader reaction to $32.77.
- FX Empire
Crude Oil Price Forecast – Crude Oil Markets Continue to Press the Issue
Crude oil markets pulled back just a bit during the early hours, but then turned around to show signs of strength yet again.
- FX Empire
Natural Gas Price Forecast – Natural Gas Markets Going Sideways
Natural gas markets have gone back and forth during the trading session on Thursday, as we continue to hug the 50 day EMA.
- FX Empire
Gold Price Forecast – Gold Markets Continue to Grind Higher
Gold markets rally significantly during the trading session on Thursday again, as we continue to see more of an upward tilt.
- FX Empire
E-mini S&P 500 Index (ES) Futures Technical Analysis – Needs to Hold 3035.50 to Sustain Upside Momentum
The direction of the June E-mini S&P; 500 Index the rest of the session on Thursday is likely to be determined by trader reaction to 3035.50.
- Reuters
Exclusive: Bullion banks prepare CME pullback after virus snarl
Gold trading banks are preparing to significantly reduce their positions on CME Group's Comex exchange in New York, nine people familiar with the plans said, shifting more trading to London and raising costs for thousands of investors. The divergence wiped hundreds of millions of dollars off the value of trading books, according to industry sources, with HSBC reporting a $200 million paper loss in a single day.
