Gold Tumbles to 5-Week Low On Better Risk Appetite and Technical Selling
Gold prices ended the U.S. day session sharply lower and scored a five-week low Tuesday. U.S. stock indexes that are at or near their record or multi-year highs continue to pull money away from competing asset classes, including safe-haven gold. The b…
Read moreGold Has Room To Move Lower On Technical Momentum – Analysts
Technical factors are the biggest driver for gold, as the market sees little need for safe-haven investments, and that prices have room to move lower in the near-term, according to analysts.
Read moreCapital Economics: Gold Drop Shows Market Is Complacent About Rising ‘Grexit’
Gold’s sharp drop Tuesday is surprising given the uncertainty in Greece and the ongoing conflict in Ukraine, says Julian Jessop, head of commodity research at Capital Economics. He added that it appears the market is paying more attention to the prospect that the Federal Reserve will raise rates in June as the gold market is moving in-line with higher U.S. treasury yields. However, he adds that they still see more potential for gold and expect prices to end the year at $1,400 a ounce. “While we continue to expect a first Fed move in June, we still see more positives than negatives over the year as a whole – especially if the crisis in Greece escalates further,” he says. “Markets still seem remarkably complacent about the chances that Greece will be forced out of the euro-zone and about the risks of contagion to other peripheral economies.”
GLD Starts Year On Strong Footing But Analysts Question If It Can Last
Investor demand for gold-backed exchange traded products (ETP) remains positive, despite the biggest weekly outflows since the start of the year.
Read moreTimmins Gold To Acquire Newstrike Capital
Timmins Gold Corp. (TSX:TMM)(NYSE MKT:TGD) has entered into an agreement where it will acquire Newstrike Capital Inc. (TSXV:NES) for roughly C$140 million.
Read moreGold Extends Early Losses, Hits 5-Week Low, on Technical Selling
Gold prices are trading solidly lower and have hit a five-week low in late-morning dealings Tuesday. Technical selling pressure is featured as the near-term chart posture favors the bears. Also, the sell off-in crude oil prices and a rebound in the U….
Read moreGold Plunges, Heading Toward Key “Line In The Sand”
(Kitco News) – Comex April gold futures plunged lower Tuesday, breaking below key support at the 100-day moving average.
Empire State Manufacturing Index Falls To 7.8 In February
(Kitco News) – The manufacturing sector in the New York region appears to be hitting a soft patch as the latest data from the New York Federal Reserve showed that business conditions were softer than expected in February.
Read moreGold Down On Less Risk Aversion, Bearish Technicals
Gold is moderately lower in early U.S. trading Tuesday.
Read morePresidents Day Brief
a short trading day, a stronger dollar and regular trading tussled for dominance
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