CFTC Data Show Funds Cut Bullish Gold Positions To Lowest Since January

(Kitco News) – The bearish sentiment toward precious and base metals continues, as large speculators cut their net-bullish Comex gold futures and options holdings to the smallest since January, according to data compiled by the Commodity Futures Tradi…

Monday’s Forex Analytical Charts

Monday’s Analytical Charts for Gold, Silver and Platinum and Palladium

U.S. Pending Home Sales Fall 1.0% In August

(Kitco News) – The amount of people in the process of buying a home dropped in August, giving back some of July’s gains, according to data from the National Realtor Association.

CME Group’s Hunnable: New Hong Kong Gold Futures Contract To Allow ‘Easy Arb’

(Kitco News) – A new gold futures contract that CME Group aims to launch in Hong Kong by year-end will not only provide another venue for traders to take outright positions but is aimed at “easy arb” for those who want to hedge or trade price variations in different parts of the world, said a CME Group official.

Gold Sees Mild Gains On Hong Kong Protests

Gold prices are mildly firmer in early North American dealings, with the yellow metal rising on news of protests in response to weekend protests and police crackdown over Chinese control of the 2017 elections, analysts say. Edward Meir, commodities consultant at INTL FCStone, says both the U.S. dollar and gold are up, “with the tensions in Hong Kong likely con¬tributing to the rise in both.” Analysts at Barclays say the Hang Seng fell in response to the pro-democracy movement. So far, though, the metal’s gains are limited as the overall outlook for gold is weak. “With the technical and fundamental backdrop for the pre¬cious metal looking weaker, the path of least resistance looks lower for the moment,” Meir says.

Technical Trading: Bullish Momentum Divergence Bodes Well For Gold

September 29 —Markets don’t go straight up or down, they need to pause, correct and take a break. The recent technical trend in the gold market has been bearish; prices have been trending lower off the July price high in an orderly manner.

Gold Up On Short Covering, Some Bargain Hunting

Gold prices are modestly higher to start the new trading week Monday. Short covering by the futures traders and some light bargain hunting are featured, following recent solid selling pressure that drove prices to a nine-month low last week. December …