Morning Report: 07.00 London The British pound is under pressure as the weekend’s Brexit talks reached a stalemate, potentially scuppering the prospect of an orderly transition. The GBP/JPY has dropped below its monthly long trading range. The GBP/USD happed lower, with 1.3100 holding as support for now. The EUR/GBP jumped higher, building on the last […]
GOLD PRICES headed for their highest Friday close in 11 weeks in US Dollar terms in London today, holding onto most of yesterday’s 2.8% jump to trade above $1223 per ounce as world stock markets bounced from their sharpest drop since February. Noting this week’s “sea of red spattered across equity investors’ screens”, bullion […]
Morning Report: 07.00 London The US dollar remains weak and is testing the October lows. US Stock markets have continued their descent, while US CPI came in below estimates yesterday. The GBP/USD is rallying once again, remaining within sight of the 1.3250 highs on building Brexit optimism. The euro continues to recover, building for its […]
GOLD PRICES touched a 3-week high of $1210 per ounce in London trade Thursday as global stock markets fell yet again and the US Dollar retreated once more on the currency market. Commodities also fell, with crude oil dropping to new lows for this month at $81 per barrel of Brent but silver edging […]
Morning Report: 07.00 London Stock markets and the dollar index are rattled right now as investors fret over future rate hikes and Donald Trump warns that the Fed has ‘gone crazy’. Dollar pairs are enjoying the respite and making gains across the board. The EUR/USD is pushing higher for the third day in a row, […]
GOLD PRICES failed to hold a rally above $1190 per ounce for the second day running in London trade Wednesday, dropping back as the US Dollar rose and world stock markets fell again amid fresh worries over Italy’s government deficit and the UK’s impending Brexit from the European Union. The Chinese Yuan held its […]
Morning Report: 07.00 London Stock markets are continuing their losing streak, with US yields rises stabilising. In this environment, the US dollar is struggling, helping dollar pairs to rise. The AUD/USD is higher for the third day in a row, as the 0.7050 level holds. The GBP/USD remains strong, notching up small gains this morning […]
GOLD PRICES failed to hold a $5 bounce in London trade Tuesday morning, dropping back to $1186 per ounce as world stock markets fell with government bond prices, driving longer-term interest rates higher as the Dollar also rose on the currency market. “It [is] a moment to cool down the temperature,” said a European […]
Morning Report: 07.00 London This morning, markets are choppy on growing concerns that are limiting risk appetite. Concerns mount over emerging currencies, China and the Italian economy. The USD/JPY continues to fall from the highs around 114.50, with support at 113.00 the latest test. The EUR/JPY is following a similar path, with steady selling from […]
GOLD PRICES fell Monday morning as the dollar held firm after China’s central bank eased its domestic policy to support the economy amid concerns that an escalating trade dispute with the United States could hurt growth. China’s central bank on Sunday announced a steep cut in the level of cash that banks must hold as […]
Morning Report: 07.00 London The US dollar is back on the front foot following Friday’s NFP inspired sell-off. Payrolls increased less than expected, while unemployment improved. This gave a boost to dollar pairs on Friday, but this boost is receding this morning as the dollar pairs reassert its dominance. The Austrian dollar is of particular […]
GOLD PRICES clung to the $1200 level yet again on Friday, heading for a $10 weekly gain as world stock markets fell and long-term US interest rates rose to new 7-year highs. Ten-year US Treasury bond yields held at 3.20% after data from the Bureau of Labor Statistics said US employers added just 134,000 […]
Morning Report: 07.00 London The dollar remains strong this morning, with markets expecting a strong set of NFP numbers. The Australian dollar remains weak, falling further below the 0.7100 level. The EUR/USD recovered half of yesterday’s losses, but is back on the losing track this morning. The GBP/USD rallied sharply back above the 1.3000 level […]
GOLD TRADING in London saw prices tick higher against all major currencies on Thursday, recovering the $1200 mark for US investors as world stock markets slipped amid fresh geopolitical tensions between the US and China, and Russia and Europe. “China wants a different American president,” US vice-president Mike Pence will say in a speech […]
Morning Report: 07.00 London The US dollar is the currency of choice this morning after Hawkish Fed comments sparked a surge in bets on further and faster rate hikes. This was coupled with better than expected ISM non-manufacturing PMI. The Australian dollar has been hit hardest, with the AUD/USD plunging yesterday to below 0.7100 with […]
GOLD PRICES slipped back from yesterday’s 1.6% short-covering jump on Wednesday, dropping as the Dollar rallied following stronger-than-expected US jobs data. Spot gold retreated $7.50 per ounce to near $1200 yet again after the private-sector ADP estimate said US payrolls expanded by 230,000 in September, almost 25% ahead of Wall Street’s consensus. The gold price […]
Morning Report: 07.00 London The EUR/USD is rebounding off support around 1.1550 as Italy concerns ease. This reverses yesterday’s losses which marked five days of losses. The EUR/GBP is also on the rise, building on yesterday’s losses as Brexit concerns slow down the pound. The EUR/CHF is also making gains this morning and is heading […]
GOLD PRICES rose against all major currencies but leapt versus the Euro on Tuesday as the coalition government in Italy refused to cut its 2019 budget deficit plans in defiance of senior European Union figures. Gold priced in US Dollars rose to 1-week highs above $1202 per ounce, and the UK gold price in […]
Morning Report: 07.00 London The euro remains weak as markets fret over Italy’s budget expansion. The EUR/USD continues to slip lower after yesterday’s failure of the 1.1600 level. The EUR/GBP is unchanged so far, but generally the momentum remains with the pound on Brexit hopes and against the euro on Italy concerns. The EUR/JPY is […]
GOLD PRICES slipped Monday morning, writes Atsuko Whitehouse at BullionVault, dropping to $1185 per ounce as China’s gold market shut for the week-long National Day holidays and the United States reached a “last minute” trade deal with Canada overnight. Tokyo’s Nikkei 225 Stock Average rose to its highest close since 1991, but other Asian […]
Morning Report: 07.00 London The Canadian dollar is the top performer, boosted by the news of a new US, Canadian and Mexican trade deal. The Canadian dollar has jumped higher, with the USD/CAD dropping to below 1.2850. The Canadian dollar is making even bigger gains against the likes of the pound and euro. The euro […]
GOLD PRICES rallied but held on track for the lowest weekly finish since January 2017 in US Dollar terms on Friday, rising only $3 per ounce to $1184 as world stock markets fell amid new fears over Italy’s growing public debt. Silver in contrast spiked to $14.50 per ounce, back near Monday’s 4-week high […]
Morning Report: 07.00 London The US dollar is experiencing an amount of selling pressure, but yesterday’s post-Fed gains are still unthreatened. The dollar remains the currency of choice for traders with its well communicated rate path pointing firmly higher. The EUR/USD is recovering to test the 1.1650 level after huge losses yesterday, with the pair […]
GOLD PRICES fell hard against the Dollar at the start of New York trade on Thursday, dropping further below $1200 than any time so far in September after the Federal Reserve’s latest hike to interest rates was followed by stronger than expected US jobs data. Last week saw claims for jobless benefits rise less […]
3x lessons from the ABX-RRS gold mining M&A news… DESPITE the trillions of pixels already spent on news of the Barrick-Randgold mining merger, writes Adrian Ash at BullionVault, everyone in the gold industry still wants to know… Will Mark Bristow start slashing costs at Barrick by selling the Gulfstream and taxiing John Thornton […]
Morning Report: 07.00 London This morning, there is still a mixed reaction to yesterday’s FOMC meeting where the Fed raised rates by 0.25% as expected, but kept additional guidance mostly the same as last month. Most dollar pairs including the EUR/USD slipped yesterday, but there is a hint of a recovery this morning. The biggest […]
GOLD PRICES fell $5 per ounce from the $1200 level in London trade on Wednesday, slipping ahead of the US Federal Reserve’s September decision, widely expected to take its key interest rate up to a ceiling of 2.25%. Priced in the single Euro currency gold slipped within €3 per ounce of early September’s 32-month […]
Morning Report: 07.00 London This morning, the dollar index is mixed ahead of today’s FOMC meeting where the Fed are expected to raise rates by 0.25% to 2.25%. The GBP/USD is peeling back slightly after a strong advance yesterday which has penetrated half of Friday’s slump. The EUR/USD is unchanged after struggling to make progress […]
Morning Report: 07.00 London This morning, the dollar index is mixed ahead of today’s FOMC meeting where the Fed are expected to raise rates by 0.25% to 2.25%. The GBP/USD is peeling back slightly after a strong advance yesterday which has penetrated half of Friday’s slump. The EUR/USD is unchanged after struggling to make progress […]
GOLD PRICES edged above last week’s finish at $1200 per ounce Tuesday morning, holding in a tight range yet again as crude oil set fresh 4-year highs and government bond yields ticked up ahead of tomorrow’s interest-rate decision from the US Federal Reserve. Gold was also little changed for non-Dollar investors, trading at €1020 for […]
