Gold breaks the $1,300 level, as dollar weakens

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From Fawad Razaqzada: There are a number of factors supporting gold prices at the moment, most notably a big drop for the US dollar. The US dollar has weakened sharply ahead of next week's FOMC meeting amid growing expectations that the Fed will re-iterate the need to pause its hiking cycle. We have been growing negative towards the buck for a while now and this dollar sell-off does not surprise us at all. The sell-off has been blamed on a Wall Street Journal report, which suggests that the Fed could be taking a more cautious approach towards the shrinking its huge balance sheet. Among the dollar pairs, EUR/USD has surged back to 1.14 after briefly breaking the 1.13 handle in the aftermath of the ECB policy decision yesterday.  As we mentioned previously, a dovish ECB was already expected but Mario Draghi was not exactly too dovish after all. So, the euro's recovery makes sense as previously sentiment towards it was very negative. In addition to a weaker dollar boosting buck-denominated gold, you have the Chinese yuan being on the rise on hopes over a resolution in US-China trade dispute. With a stronger renminbi, Chinese consumers can buy more gold than was the case previously. The fact that gold has so far refused to go down meaningfully from around the $1295-$1300 resistance area suggests that the selling pressure has not been strong as some would have expected from around this key hurdle. So, as things stand, gold looks poised for a potential breakout above $1300, which could then lead to further technical follow-up buying pressure in early next week.
NYSE:GLD January 25, 2019 2:01pm

Gold prices fall due to a firmer dollar

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From Myra P. Saefong: Gold prices finished lower on Thursday, with the metal's short-term prospects linked to a firmer dollar, but investors keeping watch over the impact of the partial shutdown of the U.S. government and ongoing U.S.-China trade dispute.
NYSE:GLD January 24, 2019 5:28pm

Gold rallies as global growth worries weigh on equitie

Gold Price
From Reuters:

(Reuters) - Gold bounced back on Tuesday from multi-week lows touched in the previous session as mounting concerns of an economic slowdown exacerbated by a cut in the International Monetary Fund's global growth forecast drove investors to the safety of bullion.

NYSE:GLD January 23, 2019 1:27pm

CIBC raises their target price for Gold in 2019

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From Neils Christensen: (Kitco News) - A slowing global economy, growing market volatility and shrinking production will keep a bid under gold prices for at least the next two years, according to one Canadian Bank, which also listed its top picks in the mining sector.
NYSE:GLD January 22, 2019 12:14pm

Gold prices fall, first weekly loss in a month

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From Myra P. Saefong & Rachel Koning Beals: Gold futures prices dropped Friday, headed for their first weekly loss since mid-December, as investors pushed into riskier assets, including stocks, fueled by hope of potential progress toward a resolution in the U.S.-China trade dispute.
NYSE:GLD January 18, 2019 2:03pm

The founder of Goldcorp Inc. predicts gold will soar to $5,000

gold mine
From Danielle Bochove:

(Bloomberg) -- Gold mining veteran Rob McEwen is nothing if not optimistic.

NYSE:GLD January 17, 2019 1:13pm

Gold dips as dollar firms, investors wait for Brexit vote

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From Eileen Soreng and Arijit Rose: *Markets await vote on Brexit deal, set to start at 1900 GMT
NYSE:GLD January 15, 2019 12:56pm

Gold prices edge higher, stage fresh assault on $1,300

Gold prices
From Myra P. Saefong and Mark DeCambre: Gold futures climbed on Monday as weakness in global stocks and the U.S. dollar helped to buoy the yellow metal.
NYSE:GDX January 14, 2019 12:10pm

Gold pulls back as stocks, dollar advance

Gold prices
From Myra P. Saefong and Rachel Koning Beals: Gold futures slipped Tuesday as some gains in the U.S. stock market and strength in the dollar helped to dull the appeal of the haven metal, at least in the short term.
NYSE:GDX January 8, 2019 1:44pm

Gold prices climb, nearing $1,300

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From Myra P. Saefong and Mark DeCambre: Gold futures headed higher on Monday, poised to rebound from their worst single-session drop in two weeks, with prices getting a boost as downbeat U.S. ISM nonmanufacturing data pressured the dollar.
NYSE:GDX January 7, 2019 11:56am

Gold poised for biggest one-day decline in nearly 2 months

Gold prices
From Myra P. Saefong and Mark DeCambre: Gold futures fell sharply on Friday, headed for their biggest single-session decline since November, as a stronger-than-expected jobs report reinforced strength in the U.S. economy.
NYSE:GLD January 4, 2019 1:11pm

Gold rises to highest level in 6 months

Gold Price
From Arijit Bose:  BENGALURU (Reuters) - Gold rose to its highest level in 6-1/2 months on Wednesday as weak factory activity data in Europe and Asia compounded concerns of a global economic slowdown and weighed on stock markets, increasing the precious metal's safe-haven appeal.
NYSE:GLD January 2, 2019 12:19pm

Gold ends 2018 with upside momentum

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From William Watts: Gold futures were on track Monday to log a losing performance in 2018, but are ending the year with some momentum as stock-market carnage reignites haven-related demand and as the dollar weakens.
NYSE:GLD December 31, 2018 2:36pm

Gold pauses its advance as stocks steady but holds near 6-month highs

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From Rachel Koning Beals: Gold futures tipped lower early Friday as volatile stock markets calmed down, but the haven metal remained near the six-month highs scored in recent days on the way to a roughly 1.8% weekly gain.
NYSE:GLD December 28, 2018 2:21pm

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