GC=F - Gold Aug 19

COMEX - COMEX Delayed Price. Currency in USD
1,411.90
-3.50 (-0.25%)
As of 6:07PM EDT. Market open.
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Pre. Settlement N/A
Settlement Date 2019-08-28
Open 1,412.70
Bid 1,411.60
Last Price 1,415.40
Day's Range 1,411.40 - 1,413.20
Volume 791
Ask 1,411.70
  • GLOBAL MARKETS-Dollar gains on lower rate cut expectations, stocks flat
    Reuters 2 hours ago

    GLOBAL MARKETS-Dollar gains on lower rate cut expectations, stocks flat

    The dollar edged higher and European shares fell on Wednesday as traders curbed expectations of an aggressive U.S. interest rate cut in July, while Wall Street traded little changed on mixed signals over China-U.S. trade talks at the G20 summit in Japan. Gold fell about 1% a day after Federal Reserve Chairman Jerome Powell said the U.S. central bank is "insulated from short-term political pressures," suggesting policymakers would not bow to President Donald Trump's call to sharply cut rates. Trump said Powell was doing a "bad job" and he urged the Fed to lower rates so that U.S. exports can compete with countries that he said are devaluing their currencies.

  • How to Invest in Commodity Futures
    SmartAsset 2 hours ago

    How to Invest in Commodity Futures

    Trading commodity futures lets you bet on the price of commodities including gold and corn. But commodity futures are also a good way to diversify your portfolio by investing in more than just stocks. Commodity futures are contracts to buy … Continue reading ->The post How to Invest in Commodity Futures appeared first on SmartAsset Blog.

  • Investing.com 8 hours ago

    Gold Skids as Fed Cools Heads Over Rate Cut

    By Barani Krishnan

  • UPDATE 1-Barrick stands firm, saying Acacia's mine plans need changes
    Reuters 8 hours ago

    UPDATE 1-Barrick stands firm, saying Acacia's mine plans need changes

    Barrick Gold Corp on Wednesday stuck to its offer to buy out Acacia Mining, saying assumptions made by the smaller firm about its mine plans were out of touch and changes were indeed needed. Acacia said majority shareholder Barrick's proposal undervalued its mine plans and appears to have ignored the value of its exploration and development assets. Barrick, the world's second largest gold miner, had valued Acacia's assets at $1.3 billion in its 2018 annual report but said last week that following a review it concluded some of Acacia's assumptions about its assets were not supportable.

  • The Zacks Analyst Blog Highlights: AngloGold, Rio Tinto, SSR, Franco-Nevada and BHP
    Zacks 9 hours ago

    The Zacks Analyst Blog Highlights: AngloGold, Rio Tinto, SSR, Franco-Nevada and BHP

    The Zacks Analyst Blog Highlights: AngloGold, Rio Tinto, SSR, Franco-Nevada and BHP

  • Barrick stands firm, saying Acacia's mine plans need changes
    Reuters 10 hours ago

    Barrick stands firm, saying Acacia's mine plans need changes

    Acacia said majority shareholder Barrick's proposal undervalued its mine plans and appears to have ignored the value of its exploration and development assets. Barrick, the world's second largest gold miner, had valued Acacia's assets at $1.3 billion in its 2018 annual report but said last week that following a review it concluded some of Acacia's assumptions about its assets were not supportable. Barrick fired back on Wednesday that Acacia had not raised any points that it was not already aware of.

  • Reuters 10 hours ago

    Barrick says Acacia's mine plans need changes

    Barrick Gold Corp, the world's No. 2 gold miner, said on Wednesday some assumptions made by Acacia Mining about its mine plans were not supportable and needed adjustments. Acacia Mining had on Monday strongly disagreed with majority shareholder Barrick Gold's valuation of the company, saying Barrick's proposal undervalued its life of mine plans and appears to have ignored the value of its exploration and development assets. Barrick's proposal to take full control of Acacia to resolve a long-standing tax dispute with Tanzania has drawn the ire of Acacia's minority shareholders, who may have the ultimate vote on a deal.

  • Is the End of the US Dollar’s Rally the Start of Gold’s Bull Run?
    Market Realist 11 hours ago

    Is the End of the US Dollar’s Rally the Start of Gold’s Bull Run?

    The US dollar's weakness may be a major driver behind gold's higher prices.

  • The rocky history of Melania Trump’s FLOTUS PR strategy
    Quartz 23 hours ago

    The rocky history of Melania Trump’s FLOTUS PR strategy

    Melania Trump’s spokeswoman, Stephanie Grisham, will be the new White House press secretary. It’s an unusual choice to represent the nerve center of the world’s biggest economy and most powerful military, given the First Lady’s rocky relationship with the press and her falling approval ratings during Grishman’s tenure. Excited to have Stephanie working for both sides of the @WhiteHouse.

  • Is It Gold's Time To Shine?
    Zacks yesterday

    Is It Gold's Time To Shine?

    Gold futures are trading at their highest levels in over 6 years as interest rates plummet. Gold is up roughly 12% as the US 10-year Treasury yield falls 12% in the past 30 days.

  • Gold Rally Picks Up Steam as Investors Pile In
    The Wall Street Journal yesterday

    Gold Rally Picks Up Steam as Investors Pile In

    The most-active gold futures contract rose more than 1% Tuesday to $1,435 a troy ounce, heading for a fresh six-year high as investors anticipate lower interest rates and seek alternatives to currencies and bonds.

  • The RosCan Gold (CVE:ROS) Share Price Is Up 1200% And Shareholders Are Euphoric
    Simply Wall St. yesterday

    The RosCan Gold (CVE:ROS) Share Price Is Up 1200% And Shareholders Are Euphoric

    While RosCan Gold Corporation (CVE:ROS) shareholders are probably generally happy, the stock hasn't had particularly...

  • MarketWatch yesterday

    Gold gives up nearly all of its gains, but settles at highest since late August 2013

    Gold futures gave up almost all of their earlier gains by Tuesday afternoon, though still marked the highest most-active contract settlement since August 2013. Federal Reserve Chairman Jerome Powell suggested Tuesday that an interest-rate cut in July is not a done deal. Following those comments, George Gero, managing director at RBC Wealth Management, said he expected to see profit taking in gold. A July interest-rate cut has been widely expected by investors and economists. August gold rose 50 cents, or 0.04%, to settle at $1,418.70 on Comex-a far cry from an earlier high of $1,442.90.

  • Reuters yesterday

    GLOBAL MARKETS-Gold soars to 6-year high as trade, as Iran tensions mount

    Gold soared to almost a six-year high on Tuesday on escalating U.S.-Iran tensions and U.S.-Sino trade anxiety, leading traders to pile into safe-haven government debt and to snap up the yen and Swiss franc at the expense of the dollar. Gold has gained 10% in price so far this month, climbing above $1,400 an ounce for first time since August 2013 after briefly touching the psychological barrier on Monday. The dollar, meanwhile, fell to a three-month low against the euro and dropped to its weakest against the Japanese yen since early January as the prospect of an interest rate cut by the Federal Reserve knocked demand for the U.S. currency.

  • Gold prices hit six-year high: how to buy the ultimate 'safe-haven' asset
    The Telegraph yesterday

    Gold prices hit six-year high: how to buy the ultimate 'safe-haven' asset

    The gold price soared this week as tensions between Donald Trump and Iran intensified and concerns were raised that the American Federal Reserve could look to cut interest rates.

  • Gold Prices Trending Above $1,400: Will the Rally Sustain?
    Zacks yesterday

    Gold Prices Trending Above $1,400: Will the Rally Sustain?

    Gold prices are trending above $1,400 fueled by trade worries, geopolitical uncertainties and a weaker dollar.

  • Gold Mining ETF (SGDJ) Hits New 52-Week High
    Zacks yesterday

    Gold Mining ETF (SGDJ) Hits New 52-Week High

    This gold mining ETF hits a new 52-week high. Are more gains in store for this ETF?

  • Imagine Owning Blue Star Gold (CVE:BAU) While The Price Tanked 53%
    Simply Wall St. yesterday

    Imagine Owning Blue Star Gold (CVE:BAU) While The Price Tanked 53%

    The truth is that if you invest for long enough, you're going to end up with some losing stocks. But the long term...

  • How to have great conversations with strangers
    Quartz yesterday

    How to have great conversations with strangers

    Conversations with strangers can go one of two ways. Some are unyieldingly boring—an exchange of information in which neither side reveals more about themselves than could be gleaned from LinkedIn. But in some interactions there’s an alchemy at work, the meeting of two minds sparking a change in both during which something new—less tangible than gold, but nonetheless beautiful—is created.

  • Gold Near Record in India May Lure Investors Back to the Bazaars
    Bloomberg yesterday

    Gold Near Record in India May Lure Investors Back to the Bazaars

    (Bloomberg) -- A rally in domestic gold prices to near record levels may coax investors missing from India’s bazaars to once again buy coins and bars after little movement in the last five years.Benchmark gold futures in Mumbai have surged 11% this year to as high as 34,893 rupees ($504) per 10 grams on Tuesday, just shy of a record of 35,074 rupees touched in 2013.“The whole world is getting bullish on gold now because of the economic and geopolitical tensions,” said Ketan Shroff, a director at Mumbai-based Penta Gold Pvt. and a former joint secretary of the India Bullion and Jewellers Association Ltd., by phone. “People will buy gold as an investment and we may see some good demand in small coins and bars and not in jewelry.”Spot gold surged to the highest level in six years -- topping $1,430 an ounce -- as fresh U.S. sanctions on Iran added to uncertainty in global markets and the U.S. Federal Reserve opened the door to an interest rate cut. More gains are in store with Morgan Stanley choosing gold as its top commodity pick on a six-month view. India’s investment demand was 341 tons in 2013 and fell to 162.4 tons last year, according to the World Gold Council. Rising prices will help investment demand and purchases of coins and bars may be higher-than-expected this year, according to Metals Focus Ltd.“These are positive signs for long-term gold demand,” said Chirag Sheth, a senior consultant at the London-based firm. The spike in prices comes at a time when India is entering a seasonally slow demand season after June, so jewelry sales may not be impacted much, he said.India’s gold consumption may rise 10%-15% in 2019 from the 760 tons bought last year, according to Saurabh Gadgil, chairman of the Pune-based PN Gadgil Jewellers Pvt. Despite the current rally in prices, people haven’t been lining up yet to sell their gold and that’s positive for the market, he said.Gold demand in India has been picking up as weaker prices boosted purchases for weddings and festivals and as cash handouts and higher spending during the federal elections in April and May gave a fillip to disposable incomes. The second half of the year is usually the peak demand season in India because of festivals.“At the consumer level, there is bullishness about gold prices,” Gadgil said by phone. Gold has been subdued for the last few years and people who have been holding back purchases -- including young people who have wanted to invest for the last two-to-three years -- may look to buy, he said.Demand RevivalConsumption in the January-to-March period rose 5% on year to 159 tons and demand in the second quarter is expected to be higher due to weddings and the key auspicious gold buying day of Akshaya Tritiya, according to the WGC. Import numbers for the first five months of 2019 also suggest better sales in the local markets. Inbound shipments are estimated to have risen 44% during January-May to 416.3 tons, according to data collated by Bloomberg.To contact the reporter on this story: Swansy Afonso in Mumbai at safonso2@bloomberg.netTo contact the editors responsible for this story: Phoebe Sedgman at psedgman2@bloomberg.net, Keith Gosman, Alpana SarmaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • South Korean Olympians in sexual harassment incident
    AFP yesterday

    South Korean Olympians in sexual harassment incident

    A South Korean Olympic short-track medallist sexually harassed another male Games podium-finisher, officials said Tuesday -- prompting them to suspend the entire team. The offender -- who has not been identified -- reportedly forcibly pulled down the victim's trousers, leaving him standing in his underwear in front of team-mates at the national training centre in Jincheon. In response coaches collectively punished the entire team -- seven men and seven women -- and expelled them from the facility for a month, a Korean Sport & Olympic Committee official told AFP.

  • Investing.com yesterday

    StockBeat: Gold Miners Get Their Day in the Sun

    By Geoffrey Smith

  • Graphic: Gold poised for fresh peaks after vaulting six-year high
    Reuters yesterday

    Graphic: Gold poised for fresh peaks after vaulting six-year high

    Gold looks set for further gains after rising bets on lower interest rates, a weaker dollar and confrontations between the United States and countries including China and Iran catapulted prices to six-year highs. Gold has leapt 10% in four weeks, breaking above technical resistance which has thwarted every rally for half a decade to rise above $1,400 an ounce for the first time since 2013. "The stars seem to be aligning for the gold market," said Societe Generale analyst Robin Bhar.

  • Putin’s Big Bet on Gold Is Paying Off
    Bloomberg yesterday

    Putin’s Big Bet on Gold Is Paying Off

    (Bloomberg Opinion) -- For years, Russia has been the world’s biggest sovereign gold bug: Even while gold prices were in the doldrums, it doggedly kept increasing its reserves. Now that gold is at the highest level since 2013, the tactic appears to be paying off. The U.S. dollar’s dominance as a global reserve currency is commonly thought to result from the dearth of safe assets. Russia, however, recently has provided an example of how a sizable economy with the world’s fifth biggest international reserves can minimize dollar assets and still do well. So far, it doesn’t have many followers, but gold buying by central banks is going up.Since being hit by sanctions for its aggression against Ukraine in 2014, Russia has had good reasons to rethink the composition of its international reserve. While the European Union hasn’t toughened its sanctions for almost five years, the U.S. has been doing it all the time. The Kremlin and the Bank of Russia consider the risk of further restrictions unpredictable and dependent more on U.S. domestic politics than on anything Russia does. In the 12 months since the end of September 2017, the central bank has more than halved the dollar’s share in its international assets and sharply increased the shares of the euro and the renminbi.These data, the latest available from the central bank, show the share of gold slightly dropping, even though Russia added 274 metric tons of the metal to its reserves in 2018, bringing its total reserves to 2,113 tons. That’s because other assets also increased as Russia sought to insulate itself from Western pressure – and because in those 12 months, the price of gold dropped by almost 7%. Generally, though, the metal’s market performance has, for the most part, justified Russia’s stubborn trust in it.And so far this month, as the price of gold has soared by about 7%, it has added about $7 billion to Russia’s international reserves (assuming no new purchases since the end of the first quarter of 2019). If the price increase holds, gold will account for some 20 % of Russia’s half a trillion dollars in international reserves, approaching the dollar’s share. The dollar, of course, remains the world’s biggest reserve currency, and gold and other currencies aren’t exactly displacing it worldwide. But then, the World Gold Council has noted an upward trend in net gold purchases by central banks that goes way beyond the Russian effort – even through Russia remains the biggest buyer. In the first quarter of 2019, central banks bought a record amount of gold, 715.7 metric tons.China has its own problems with the U.S. and with the dollar. While it can’t cut its enormous dollar assets as decisively as Russia has reduced its smaller ones, it has gone for a gradual reduction. And it has shown an increased interest in gold.Other significant gold buyers include Turkey and India -- the latter, like China and Russia, a member of the global top 10 by international reserves.Low U.S. interest rates, the Trump administration’s unpredictable combativeness and insatiable appetite for debt, and geopolitical instability are making gold look like a safer asset than U.S. debt instruments. A few more years of this, and it’s possible that more countries’ international reserves will be structured like Russia’s.President Vladimir Putin’s regime moved first among big reserve holders to phase out the dollar because it had the biggest reasons to fear the U.S. The current and future U.S. administrations should tread carefully to avoid giving others similar incentives to kick their dollar habit and follow the Kremlin’s example. While Russia’s economic management in general leaves much to be desired, the country’s approach to building international reserves is looking more and more prescient.To contact the author of this story: Leonid Bershidsky at lbershidsky@bloomberg.netTo contact the editor responsible for this story: Tobin Harshaw at tharshaw@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Leonid Bershidsky is Bloomberg Opinion's Europe columnist. He was the founding editor of the Russian business daily Vedomosti and founded the opinion website Slon.ru.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • Reuters yesterday

    GLOBAL MARKETS-Stocks suffer trade jitters, dollar braced for more Fed talk

    Asian shares were hamstrung by trade worries Tuesday as expectations of more dovish talk from the Federal Reserve pushed down Treasury yields and the dollar, while propelling gold prices to six-year peaks. Investors are waiting anxiously to see if anything comes of Sino-U.S. trade talks later this week, though sentiment was not helped by reports U.S. President Donald Trump would be content with "any outcome". Japan's Nikkei dipped 0.2%, while E-Mini futures for the S&P 500 edged down 0.18%.