|Day's range||1,220.40 - 1,236.90|
Japan's Nikkei [.T] and China's main bourses [.SS] tumbled again overnight as trade concerns persisted, and Europe's STOXX 600 index hit a 22-month low as U.S. markets prepared to re-open after their worst week since March. The yen and Swiss franc both made ground on a subdued dollar in the currency markets [FRX/] while gold hit its highest since the end of July. "I don't think there is really any appetite to dive back in (to stocks), and the Saudi situation is just another ball for investors to have to juggle," said CMC Markets' senior analyst Michael Hewson.
World markets turned tail again on Monday, as a bounceback in oil prices and rising tensions between Western powers and Saudi Arabia added to a cocktail of concerns that battered global stocks last week. Asia had seen Japan's Nikkei and China's main bourses take fresh tumbles on trade and currency jitters and Europe's STOXX 600 dipped to a new 22-month low in early trading as the gloom refused to lift. The yen and Swiss franc both made ground in the currency markets, and gold hit its highest since the end of July.
On a per-share basis, the company said it had a loss of 6 cents. The gold mining company posted revenue of $4.2 million in the period. The company's shares closed at 10 cents. A year ago, they were trading ...
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Most Asian shares recovered during early trade despite Wall Street suffering heavy losses overnight. In Europe, stocks continue to march higher on positive global cues which could support Wall Street later in the afternoon.
The stock markets got an absolute bashing during this previous week, as the S&P 500 shows clearly on the weekly chart. We broke down through an uptrend line, and it looks as if the selling isn’t quite over with.
Gold markets were pretty quiet on Friday, grinding sideways after the explosive move on Thursday. This isn’t much of a surprise, because quite frankly markets need to cool off after a move like that. I think at this point, you are likely to see the market to one of a couple different things, either grind sideways to digest gains, or perhaps sell off as profit taking occurs.
The US dollar initially tried to rally during the trading session on Friday, but found resistance at the top of the recent consolidation that we have been in. Overall, this is a market that looks as if it is trying to find support at the 61.8% Fibonacci level again.
The Euro rallied initially during the day on Friday, but then sold off a bit during the early hours in the United States. However, I think that there is plenty of support below, so it is probably only a matter time before the buyers return.
Gold prices consolidated after surging higher on Thursday driven by demand to enter into a safe haven currency. Yields edge lower allow the dollar to ease paving the way for higher gold prices. President Donald Trump was on the tape on Thursday stating that he believe the Federal Reserve was being reckless and increasing interest rates was unacceptable. Gold prices broke out of a 2-month range hitting highs not seen since early August, and then consolidated on Friday. Prices surged above resistance which is now short term support near a downward sloping trend line at 1,212. Additional support is seen near the 10-day moving average at 1,200. Resistance on the yellow metal is seen near the July highs at 1,265. Momentum has turned positive as the MACD (moving average convergence divergence) index generated a crossover buy signal.
Usually, gold miners are a leveraged play on gold prices, meaning that when gold prices rise, gold miners outperform the underlying commodity, and vice versa.
Gold, Miners Have Surged on the Market Rout—What’s the Upside? The Commodity Futures Trading Commission reports the positions of major players in the futures market in its COT (Commitment of Traders) report. It’s released every Friday and shows the open interest recorded on the previous Tuesday.
Gold prices have failed to draw a bid in 2018 despite many market uncertainties, including trade war tensions, the emerging market (EEM) currency crisis, and other geopolitical concerns. Year-to-date, gold prices have fallen 6.4%, and they’re currently down 9.6% from their April peak. The SPDR Gold Shares ETF (GLD), a proxy for physical gold’s price, rose 2.6% yesterday, bringing gold’s gains in the last three days to ~3.0%.
(Reuters) - Canada's main stock index bounced back on Friday and was set to break its five-day losing streak, driven by gains in healthcare shares. ** Ten of Canada's 11 major sectors were trading higher, led by healthcare sector's 2.6 percent gain. ** Shares of Aurora Cannabis rose 4 percent, while peer cannabis producer Canopy Growth gained 3.5 percent. ** Lead by bank stocks, the heavy-weight financial sector edged up 0.7 percent, tracking gains in Wall Street lenders following JPMorgan's strong results. ** The Canadian dollar edged higher against its U.S. ...
MUMBAI/BENGALURU (Reuters) - Physical gold demand in India was subdued this week as a rally in domestic prices curbed retail purchases going into a key festival season, while buying remained lacklustre in other major Asian hubs. In the Indian market, gold futures this week touched their highest since July 2016 at 32,014 rupees per 10 grams. "Usually retail buying rises during Navratri (Dussehra) but the price rise is dampening demand," said Chanda Venkatesh, managing director of CapsGold, a bullion merchant based in the southern city of Hyderabad.
Trading near ten-weeks’ high isn’t speaking loud for the Gold’s strength as 100-day SMA level of $1229 & $1236-38 horizontal-region still stand tall to challenge the buyers. In case the bullion surpasses the $1238 resistance, it’s rally to $1250-51 & $1266-67 can be expected but the $1278 barrier, comprising 200-day SMA, may disappoint optimists then after. Alternatively, the $1215-13 could entertain short-term sellers before offering them the $1200 round-figure. ...
Based on the current price at 1.1585, the direction of the EUR/USD is likely to be determined by trader reaction to the 50% level at 1.1624 and the 50% at 1.1558. Holding between 1.1624 and 1.1558 will indicate investor indecision and impending volatility.
I like the price action in gold. I like the fact that it’s formed a support base, but I do think gold is going to have a hard time sustaining a rally because it can’t compete with Treasury yields at multi-year highs. Gold doesn’t pay a dividend or interest to hold it. Therefore, gains are likely to be limited.
The gold prices rallied significantly during the Thursday’s session reaching towards the $1215 level. The $1205 and $1200 level underneath is the strong support base for the gold market. The silver market was extremely bullish during the yesterday’s session breaking above the $14.50 level again.
Gold markets broke higher during the trading session on Thursday, reaching towards the $1215 level, an area that has been very important more than once. Overall, the market looks as if the buyers are pressing the issue, but the $1215 level has been very important in the past, so I think we have a significant fight on our hands above.
The Australian dollar has shot straight up in the air during the trading session on Thursday, especially after the soft CPI figures coming out of the United States.