Gold, silver see corrective rebounds as sell pressure abates
Temitayo Ayetoto
August 7, 2018
Prices of gold and silver on Tuesday witnessed corrective rebounds from recent selling pressure in the US, according to report monitored by business a.m., but the near-term technical postures for both metals remain heavily bearish. December gold futures were up $5.40 an ounce at $1,223.10. September Comex silver was last up $0.147 at $15.495 an […]
Gold inches higher, struggles to stabilize after weeks of losses
Temitayo AyetotoJuly 24, 2018
Gold inched higher on Tuesday as the dollar slipped, but the precious metal struggled to stabilise even after weeks of losses. Spot gold was 0.2 percent firmer at $1,226.31 an ounce while US gold futures for August delivery rose 0.1 percent to $1,226.50 an ounce. The dollar index, which measures the currency against a basket […]
Analysts forecasts bearish on gold as second quarter losses deepen
Temitayo AyetotoJuly 23, 2018
Banks and brokerages were on Monday bearish on gold price as they slashed their average forecasts for this year and next after heavy losses in the second quarter, but expect the metal to bounce back towards $1,300 an ounce, a news service poll has revealed. With 35 analysts and traders participating, they forecast an average […]
Analysts’ sentiment on Gold bearish on June rate hike
Temitayo AyetotoJune 4, 2018
Among some commodity analysts, sentiment in the gold market has turned decisively bearish as prices readjust to a more certain rate hike outlook on June 13 following strong U.S. employment figures and further upside in the U.S. dollar. The May U.S. nonfarm payrolls report took economists by surprise over the weekend with 223,000 new jobs […]
Gold prices inch 0.2% higher on floppy dollar effect
Temitayo AyetotoMay 14, 2018
Gold prices inched higher Monday on subdued dollar as investors considered the prospects of fewer U.S. interest rate increases in 2018. Spot gold was up 0.2 percent at $1,320.45 per ounce, after marking the highest since April 26 at $1,325.96 in the previous session. US gold futures for June delivery were slightly changed at $1,320.50, […]
Gold prices edge up as dollar pulls back after Fed
Businessam StaffMay 3, 2018
Prices of gold moved higher on Thursday, buoyed by a slightly softer dollar but the upside for the precious metal looked likely to remain limited ahead of Friday’s U.S. employment report, which could provide fresh impetus to the dollar. Gold futures for June delivery on the Comex division of the New York Mercantile Exchange were […]
Gold, silver driven down by rallying dollar
Temitayo AyetotoApril 30, 2018
The recent solid rally in the U.S. dollar index has driven gold prices down to a five-week low in early U.S. trading on Monday. Silver prices were also weaker and hit a three-week low overnight as the rally continued to curtail buying interest in the precious metals markets. June Comex gold futures were last down […]
Gold, silver prices rise on technical buying as nickel, aluminum hit new highs
Temitayo AyetotoApril 18, 2018
Gold and silver prices went higher in early U.S. trading Wednesday with silver hitting a 2.5-month high, trading above $17.00. The chart postures for both metals are tilted in favour of the bulls, which is inspiring technically based buying interest at mid-week. Base metals, on the other hand, traded sharply higher today with aluminum gaining […]
Gold prices lower as U.S. stock futures rise
Businessam StaffApril 9, 2018
Gold prices were lower Monday as gains in U.S. stock futures and a firmer dollar dampened demand for bullion, despite simmering trade tensions between the U.S. and China. Gold futures for June delivery on the Comex division of the New York Mercantile Exchange fell $3.20 or 0.24 percent to $1,333.00 a troy ounce by 08:15 […]
Gold prices decline further as U.S. stock futures rise
Businessam StaffApril 3, 2018
Gold prices moved lower on Tuesday, trimming some of the previous day’s gains as U.S. stock futures pointed to a recovery on Wall Street following Monday’s selloff, dampening safe-haven demand for bullion. Gold futures for June delivery on the Comex division of the New York Mercantile Exchange fell $5.60 or 0.42% to $1,341.10 a troy […]