GOLD PRICES edged higher for Dollar investors on Wednesday morning but slipped against the Euro and British Pound as the UK’s ruling Conservative Party called a vote of no confidence in Prime Minister Theresa May and her handling on the Brexit process – set to see Britain leave the European Union 15 weeks from now. […]
Morning Report: 07.00 London This morning, the US dollar index is dipping from the highs on general relief that trade talks are ongoing between the US and China. Risk appetite is increasing, helping dollar pairs to lift off the lows. The EUR/USD is rising, though remains rangebound between highs and lows from mid-November. The GBP/USD […]
GOLD PRICES gave back a $5 rise in US Dollar terms after recovering last week’s closing level in London on Tuesday, trading down at $1244 per ounce as world stock markets rallied, government bond prices edged back, and the British Pound steadied on the FX market after Monday’s latest Brexit-crisis slump. Stabilizing above $1.26 […]
Well, very nearly no one… PEOPLE tend to buy gold when they fear trouble ahead, writes Adrian Ash at BullionVault. Gold prices are also seen as a barometer of fear, rising when trouble looms or strikes. But gold being a rare kind of financial asset, demand and price are not the same […]
Morning Report: 07.00 London The pound is at least stable this morning and trading above yesterday’s lows with some signs of small confidence returning. The GBP/USD plunged by over 1% on the news that Theresa May would Postpone the Brexit vote. The GBP/JPY slumped to its lowest levels since August, while the EUR/GBP spiked to […]
GOLD PRICES slipped against all major currencies except the British Pound on Monday morning, retreating from last week’s multi-month highs as world stock markets fell and bond yields rose, writes Atsuko Whitehouse at BullionVault. The UK gold price in Pounds per ounce set fresh 6-month highs however, rising to £986 per ounce, as Sterling […]
Morning Report: 07.00 London The dollar index is now on the back foot this morning after earlier strength that saw most dollar pairs gap lower at the open. China trade tensions and Brexit uncertainty are driving much of this move. The AUD/USD has made its morning gap lower and is now higher for the morning. […]
GOLD PRICES headed for their best week in Dollar terms since March in London on Friday, nearing a 2.1% gain after US jobs data for November badly missed Wall Street forecasts. With analysts expecting growth of 200,000 in non-farm payrolls, the Bureau of Labor Statistics reported a 155,000 net addition and also cut October’s figure […]
Morning Report: 07.00 London This morning, the dollar index has a positive bias ahead of today’s Non Farm Payrolls. The AUD/USD is dropping for its fifth straight day as investors weight up contagion from the Chinese economy and poor domestic economic data. The EUR/USD and GBP/USD are on the back foot, erasing a small part […]
GOLD PRICES held firm in all major currencies Thursday morning in London, supporting gold ETF trust-fund share prices as world stock markets sank on fresh worries over the inverted US yield curve and worsening US-China tensions. European equities extended a sharp drop in Asian stocks – taking Germany’s Dax index 15% lower for 2019 […]
Morning Report: 07.00 London Markets have been hit by a wave of risk-aversion on the arrest of Huawei CFO Meng Wanzhou. The yen is in demand, along with safe haven favourite the Swiss franc. Yen pairs are on the back foot, led by the rapid collapse of the AUD/JPY which is being hit due to […]
GOLD PRICES held just below yesterday’s 5-week high in London Wednesday morning, trading near $1240 per ounce as Asian and European stock markets extended Wall Street’s steep drop amid forecasts of a US economic recession after the yield curve on Washington’s debt briefly inverted. China’s politburo in Beijing meantime expressed “confidence” over reaching a […]
Morning Report: 07.00 London The US dollar is recovering after US stock markets retreated last night. The US dollar index is higher this morning, forcing dollar pairs on the back foot. The biggest loser is the AUD/USD which has closed Monday’s opening gap with heavy selling this morning following a big GDP miss. The AUD/JPY […]
GOLD PRICES rose to $1240 per ounce in London trade Tuesday, challenging 4-month highs even as the US Dollar rose amid a retreat in ‘risk’ assets led by equities. Silver rose to 4-week highs above $14.60 and palladium jumped to $1232 per ounce – a new record high in Dollar terms and nearing parity […]
Morning Report: 07.00 London Markets have a bullish bias this morning as traders shun the dollar in favour of ‘riskier’ assets and the yen. The biggest moves can be seen on the USD/JPY which is down 0.5%, as the weak dollar meets the resurgent yen. Other yen pairs are following suit, with the GBP/JPY off […]
GOLD PRICES jumped on Monday as the US Dollar retreated on news of a “ceasefire” in the US-China trade war, agreed at this weekend’s G20 summit of world leaders in Argentina, writes Atsuko Whitehouse at BullionVault. World stock markets also jumped, as did commodities, with crude oil adding over 5%. After last month’s […]
Morning Report: 07.00 London This morning, markets have woken up with a focus on the apparent dovish bias for the Fed for 2019, with the dollar index dropping lower from the open. These early moves are even more apparent on dollar pairs which have gapped lower at the open. The most impressive of these moves […]
Morning Report: 07.00 London The dollar index is recovering its poise after a volatile week that saw mixed news around the FOMC. Comments from Powell implied a Dovish stance, while the latest FOMC minutes showed that a rate hike remains imminent. The AUD/USD is pulling back from the highs, with the pair peaking at just […]
GOLD PRICES slipped on Friday in London, heading for a small weekly loss against the US Dollar and the Euro as world stock markets trimmed their earlier 2.8% rally from last weekend. Geopolitical headlines meantime focused on the G20 meeting of major-economy political leaders in Buenos Aires, where US President Donald Trump is scheduled […]
GOLD PRICES held onto last night’s $15 jump Thursday afternoon in London, more than erasing this week’s prior 1.0% loss after Federal Reserve chairman Jerome Powell hinted that the US central bank may be about to finish its interest-rate rises. Trading at $1228 per ounce, gold was outpaced by silver – up 0.6% for […]
Morning Report: 07.00 London The dollar index remains subdued after a shock speech from FOMC chair Powell which proclaimed that rates were now in neutral territory (i.e. rates may not have further to go). Previously markets had been pricing in further rate hikes, resulting in dollar weakness as traders reign in their rate hike bets. […]
Picking through history as the Fed moves ‘just below neutral’… WHICH matters more to gold prices, the stock market or interest rates? asks Adrian Ash at BullionVault. As hard to destroy as create, gold has in the past offered a hide-out from long-term slides in the stock market – a hide-out you don’t […]
GOLD PRICES held yesterday’s $10 drop on Wednesday, trading at $1214 per ounce against a strong US Dollar after Federal Reserve vice-chair Richard Clarida said his “base case” for 2019 sees a strong economy with a “robust” jobs market. Also seeing inflation around 2%, Clarida’s outlook would meet the Fed’s dual mandate for growth […]
Morning Report: 07.00 London The dollar index is on the back foot after testing the November highs yesterday. Currency markets are generally calm as the G20 meeting approaches despite concerns over the US-China trade truce. The AUD/USD is higher again this morning after two volatile sessions to start the week. The GBP/USD is nudging higher […]
Morning Report: 07.00 London Markets are quiet this morning as traders weigh up the market risks of Ukraine tensions and Trump’s latest China tariff threat. Brent crude is also holding above $60 after weeks of heavy selling. The dollar index is mildly lower this morning. Dollar pairs have a positive bias, with the AUD/USD making […]
GOLD PRICES opened the week $5 higher on Monday morning as global stock markets rebounded with oil prices after last week’s ‘Black Friday’ plunge, writes Atsuko Whitehouse at BullionVault. Oil prices clawed back 2% after dropping 8%, taking Europe’s benchmark Brent crude back up to $60 per barrel – a 13-month low when hit […]
Morning Report: 07.00 London There has been no Brexit bounce for the pound this morning after EU leaders approved the Brexit divorce terms this weekend. Markets had already discounted EU approval, with the real challenge being parliamentary approval. Early indications are that it will be an uphill challenge for Theresa May to put in mildly, […]
GOLD and SILVER prices held near 2-week highs against most major currencies on Thursday but platinum slipped back, trading down to $847 per ounce as European stock markets erased yesterday’s rally to fall back towards 2-year lows. With gold prices at $1228 as US markets stayed shut for Thanksgiving, bullion in Euro terms held […]
Morning Report: 07.00 London This morning, the dollar index continues to slide as risk appetite returns to global markets as risk appetite returns during the Thanksgiving lull. The EUR/USD is on the front foot, bidding higher for the third day in a row. By contrast, the GBP/USD is slipping back as some of yesterday’s Brexit […]
Morning Report: 07.00 London The dollar index is on the back foot this morning, with small amounts of follow-on selling from yesterday’s reversal. US core durable goods orders came in worse than expected yesterday. Markets are generally quiet though with US equity market closed for Thanksgiving. The EUR/USD is building on yesterday’s tentative gains, but […]
