|Day's Range||1,228.40 - 1,235.90|
Following a similar move by Poland, the central bank in Budapest now holds 31.5 tons of the metal, taking the share among total reserves to 4.4 percent, in line with the average in the region, according to a statement published on its website Tuesday. Governor Gyorgy Matolcsy touted the move as a way to improve the security of the nation’s wealth and a nod to Hungary’s heritage as one of the world’s largest gold producers in the Middle Ages.
Investors are likely to remain on the defensive this week as ongoing U.S.-China trade disputes, concerns over slowing global growth and geopolitical tensions dent risk sentiment.
The USD/JPY has formed a possible bearish continuation pattern if it closes below the W L3 support at 111.63. However, a correction is still possible.
A cautious tone is likely to reverberate across financial markets this week as ongoing trade disputes, global growth fears and geopolitical tensions keep investors on edge.
Both WTI and Brent futures are expected to remain rangebound over the near-term. Support is being fueled by concerns over a supply shortage. Worries over demand and rising U.S. inventories are providing the resistance.
Gold trades flat near yesterday’s high’s as profit booking activity dampens price action for dollar denominated yellow metal in broad market amid risk averse market scenario.
The Australian dollar rallied on Monday to break towards the 0.7150 level. If we can break above that level, the market should continue to go even higher. However, I think that the market will struggle to rally for the longer-term, especially near the 0.72 handle.
The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets. FUNDAMENTALS * Malaysian palm oil futures fell from a one-week high to close lower on Monday, as ...
Stocks that moved substantially or traded heavily Monday: Harris Corp., up $18.38 to $173.25 The defense contractor said it will combine with competitor L3 Technologies in an all-stock deal. Autodesk Inc., ...
Natural gas prices moved higher on Monday as colder than normal weather is forecast to move east generating additional heating demand during the balance of October. While supply over the past week was flat, demand increased as higher power generating was need increasing consumption by 1%. Natural gas prices moved higher rising by 2.88%, making a higher high and a lower high which is an uptrend. Momentum is flat as the MACD (moving average convergence divergence) histogram prints in the black with a flat trajectory which points to consolidation.
Gold prices moved higher on Monday and continues to form a bull flag pattern which is a pause that refreshes higher. A weaker than expected retail sales report released by the US Commerce Department on Monday, took some of the strength out of the US dollar paving the way for higher gold prices.Technical Analysis
The price of gold has rallied over the last 3 months, as stocks and the dollar have weakened, enabling the precious metal to recover from weakness in the first six months of 2018. Gold prices weakened in the first half of 2018 after a tumultuous, but ultimately stronger 2017. The SPDR Gold Shares ETF ( GLD), the SPDR ETF that tracks gold bullion, is down 8.81% in 2018 after returning 12.81% in 2017. The precious metal trades at around $1,228 per ounce as of October 15, 2018. The precious metal has traditionally been perceived as a safe haven investment in times of economic uncertainty and the recent concerns – along with the slide in stock prices – certainly fit the bill.
Attractive stocks have exceptional fundamentals. In the case of Wesdome Gold Mines Ltd (TSE:WDO), there’s is a company with impressive financial health as well as a excellent future outlook. In Read More...
If upside momentum begins to build over .7140 then look for buyers to make a run at the 50% level at .7178 over the near-term. Treat .7140 like a pivot into the close.
Based on the early price action, the direction of the December WTI crude oil futures contract the rest of the session is likely to be determined by trader reaction to the 50% level at $71.61.
As stock markets plummeted all around the globe, sentiment deteriorated sharply, and investors turned back to the well-known safe-haven – gold.
Based on the early price action, the direction of December Comex Gold the rest of the session is likely to be determined by trader reaction to the short-term Fibonacci level at $1235.80.
Based on the current price at 1.1595, the direction of the EUR/USD is likely to be determined by trader reaction to the uptrending Gann angle at 1.1592. Some may argue that the EUR/USD has been forming a support base the entire month. If this is the case then buyers are likely to go after 1.1669. This is a potential breakout level.
The EUR/USD has formed an ascending trend line that is holding the trend in place. The POC zone 1.1560-70 could show fresh buyers for the pair.
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 ...
Element ‘’V’’, better known as Vanadium is rapidly becoming crucial to several industries, and could be an absolute game changer in battery technology
If you're looking at gold miners, stop. You need to consider streaming companies like Royal Gold, Franco-Nevada, and Wheaton Precious Metals.
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.