GOLD PRICES held in a tight $5 range around $1213 per ounce Tuesday morning in London, moving sideways against a weaker US Dollar as commodities edged higher and Donald Trump issued a warning to other countries over doing trade with Iran – now back under US sanctions over its nuclear research program. With gold […]
Morning Report: 07.00 London The Australian dollar is performing well, despite the RBA opting to keep interest rates on hold. The AUD/USD has made good yesterday’s losses, rising above 0.7400 with some change. The AUD/JPY is rallying, challenging the 82.50 level. Dollar pairs are generally performing well, lifted by the dollar’s poor performance since Friday’s […]
GOLD PRICES lost early gains on Monday in London as the US Dollar firmed following further escalations of the US-China trade conflict and re-imposed sanctions on Iran, writes Steffen Grosshauser at BullionVault. Gold bullion slipped to $1207 per ounce in wholesale trade but held above July 2017’s low at $1204, the level reached again […]
Morning Report: 07.00 London This morning, markets have so far ignored the PBoC’s activity to strengthen the Renminbi over the weekend. The dollar index is on the rise again after being hit by Friday’s poor payrolls and manufacturing PMI data. The AUD/USD made hay on Friday, making gains back up to the 0.7400 level, but […]
GOLD PRICES bounced Friday after weaker-than-expected US jobs data, but still headed for the lowest weekly finish of 2018 or worse versus most major currencies. China’s stock market closed the week at its lowest since the end of 2016, down 25% from January’s peak as Beijing readied new tariffs on $60 billion of US […]
Morning Report: 07.00 London Following a day of frantic activity, markets are calm as they await today’s main ticket – Non Farm Payrolls. The US dollar index has a slight positive bias after significant gains made yesterday. The GBP/USD is unchanged so far after the Bank of England raised rates as expected, but expressed enough […]
GOLD BARS slipped near fresh multi-month price lows in London trade Thursday as the Bank of England raised UK interest rates and new data showed the weakest 6-month demand worldwide since the global economic slump of 2009. Falling against all most currencies bar the Euro and Australian Dollar, gold bullion dropped to $1214 per […]
Morning Report: 07.00 London The dollar index is on the ascendency, forcing dollar pairs lower. The AUD/USD is lower for the second day in a row as Australia braces itself for China’s economy feeling the impact of a 25% jump in tariffs. These fears are trumping better than expected trade balance figures. Yesterday’s FOMC meeting […]
GOLD PRICES began August dead-flat from last week’s finish against a falling US Dollar on Wednesday in London, while world stock markets slipped before the latest interest-rate decision and statement from the Federal Reserve. China’s main indices led the drop in global equity prices, losing 2% for the day as Beijing said it won’t […]
Morning Report: 07.00 London The US dollar remains strong this morning, ahead of today’s US Non Farm Payroll data and FOMC meeting. The AUD/USD is firmly on the back foot, reversing yesterday’s gains and halting the mini rally. The EUR/USD is also cutting back, after failing to break through the 1.1700 level once again. Meanwhile, […]
GOLD PRICES fell below $1220 for the fourth time in a fortnight in London trade Tuesday, hitting new 30-month lows for Euro investors at €1038 as the Bank of Japan sparked volatility on the currency markets by tweaking its “continuous…powerful” QE money creation and asset-purchase program. Vowing to suppress short- and long-term interest rates […]
Morning Report: 07.00 London The Japanese yen is struggling after the BoJ opted to keep rates on hold against an outside chance of easing moving to an end. Instead, the BoJ announced that headline interest rates were likely to remain at historic lows or the foreseeable future. The USD/JPY has risen, though the weak dollar […]
GOLD PRICES dropped back on Monday morning in London ahead of several key central bank meetings this week, writes Steffen Grosshauser at BullionVault. Rumors in Tokyo say the Bank of Japan may ‘tweak’ its QE asset purchase scheme Tuesday. Supported by last week’s strong US GDP data, the Federal Reserve is then expected […]
Morning Report: 07.00 London Markets are generally quiet ahead of a busy week for world currencies. We have major announcements from the BoJ, Fed and BOE alongside major economic releases from the US with Non Farm Payrolls. The pound is out-performing, with the GBP/USD unchanged while the EUR/USD falls. The GBP/JPY is making small counter […]
GOLD PRICES popped $5 but held on track for the 7th weekly drop in 9 against the Dollar on Friday after new US data matched analyst and President Trump’s forecasts with the fastest GDP growth since 2014. Falling within $6 of last week’s 1-year low at $1211.89 this morning in London, gold prices then […]
Morning Report: 07.00 London The US dollar is mixed after Facebook surprised markets with a shock drop in profits brought about by privacy costs. The AUD/USD is rising after hefty selling yesterday. The EUR/USD is making similar moves after dropping below 1.1650 yesterday following the ECB press conference. By contrast, the pound is displaying follow-on […]
SILVER slipped with other precious metal prices on Thursday in London, holding firmer than gold but weaker than platinum as Eurozone stock markets rose following US President Trump’s positive trade meeting with European Commission chief Juncker, plus a “no change” decision from the European Central Bank. Trump overnight claimed his meeting with the EC […]
Morning Report: 07.00 London The dollar is surprisingly mixed despite announcement of a trade agreement with the EU yesterday and a joint statement condemning China for intellectual property theft. There were big gains for dollar pairs yesterday, with small losses this morning. The EUR/USD is on the back foot, but the gains made yesterday are […]
GOLD PRICES recovered or rose above last week’s closing level in terms of all major currencies on Wednesday, touching $1232 per ounce as the US Dollar slipped on the FX market and European equities fell ahead of Donald Trump’s meeting on trade with Jean-Claude Juncker. “I have an idea,” tweeted the US President over […]
Morning Report: 07.00 London The euro remains under pressure this morning after selling off yesterday on the back of disappointing services PMI data. The EUR/USD is down slightly again, below 1.1700 after the euro struggled despite a weak dollar. The EUR/JPY has now dropped for six straight days, while the EUR/GBP plunged below 0.8900. The […]
GOLD BULLION rallied against most major currencies Tuesday in London, recovering most of yesterday’s drop as the Chinese Yuan steadied from a new plunge on the FX market and US Dollar slipped back ahead of Donald Trump meeting the European Commission’s Jean-Claude Juncker amid the worsening ‘trade war’ spat over tariffs between the world’s two […]
Morning Report: 07.00 London The Japanese yen remains the power broker across currency markets, as the USD/JPY attempts to reverse yesterday’s gains. The AUD/JPY is seeing the biggest losses, with the pair reversing heavily from the 83.50 level 82.00 in just three days. The EUR/JPY has reversed yesterday’s recovery and is challenging the 130.00 level. […]
GOLD PRICES held stable on Monday morning in London as the Dollar fell to a near 2-week low after President Trump lamented the US currency’s recent strength, writes Steffen Grosshauser at BullionVault. With Trump tweeting a blunt warning to the theocratic government of Iran, gold rallied to touch $1234 in the early session before […]
Morning Report: 07.00 London The yen has surged on so far unsubstantiated reports that the BOJ is looking to change its monetary policy including interest rate targets. Meanwhile, the US dollar opened the week on the back foot following yet another round of Trump trade tariff worries and geopolitical Twitter spats. The USD/JPY gapped lower […]
GOLD PRICES rallied 1% on Friday from yesterday’s new 12-month Dollar low of $1211 per ounce after US President Donald Trump attacked both China on trade and the Federal Reserve for raising interest rates in an interview with CNBC. “I’m not thrilled” about the Fed raising rates, Trump told CNBC anchor Joe Kernen in […]
Morning Report: 07.00 London The US dollar appears to have survived Trump’s comments that he’s not thrilled with the prospect of rate rises, but is letting the Fed so what they feel best. Though there is no prospect of direct intervention, markets have noted concern about subtle pressure this might bring to subdue US rate […]
GOLD PRICES fell again but were outpaced by silver in London on Thursday, while platinum dropped to new 14-year lows as the surging US Dollar pushed industrial commodities lower. Asian stock markets slipped as the Chinese Yuan also fell to new 12-month lows, tracking the slide in Dollar gold prices. European shares fell […]
Morning Report: 07.00 London The British pound remains under pressure after touching its lowest levels since September 17 yesterday. With UK inflation levels falling below expectations yesterday, traders are taking bets off an August rate rise. The GBP/USD’s fall approached 1.3000 yesterday, but closed some way off the lows after a late rebound. There is […]
Professional investors say they would buy gold, but… APPARENTLY some money managers think gold looks under-valued right now, writes Adrian Ash at BullionVault. A record number in fact, according to CNBC. It says that 17% of the 231 professional investors replying to Bank of America-Merrill Lynch’s monthly survey in July said the […]
GOLD PRICES set new 12-month lows against a rising Dollar on Wednesday in London, touching $1222 per ounce as the US currency rose yet again following weaker-than-expected Eurozone and UK inflation data. Excluding volatile fuel and food prices, the cost of living in the UK slowed to 1.9% annual inflation last month and retreated […]
