GC=F - Gold Dec 19
| Pre. Settlement | N/A |
| Settlement Date | 2019-12-27 |
| Open | 1,513.10 |
| Bid | 1,514.00 |
| Last Price | 1,499.50 |
| Day's Range | 1,506.30 - 1,519.70 |
| Volume | 114,021 |
| Ask | 1,514.10 |
- Bloomberg
Gold Rallies on Concern Saudi Attack May Presage Wider Conflict
(Bloomberg) -- Gold and silver rallied after a strike against Saudi Arabian oil facilities raised the possibility of retaliatory U.S. military action in the Middle East, with investors seeking haven assets at the start of a week that’ll also see critical policy decisions from central banks including the Federal Reserve.Bullion jumped more than 1.5% as investors gauged the ramifications from the assault against the world’s biggest crude-processing facility in Abqaiq and the kingdom’s second-biggest oil field in Khurais. Secretary of State Michael Pompeo blamed Iran for the disruption; that charge was rejected by Tehran.Gold hit a six-year high this month as slowing growth and the U.S.-China trade war drove central bank easing, with geopolitical tensions playing a secondary role aiding prices. After reducing rates in July, the Fed is poised to cut again at its Sept. 17-18 meeting. Following the strike over the weekend, President Donald Trump said the U.S. is “locked and loaded depending on verification” that Iran staged the attack, raising the specter of a military response.“This is a major facility that’s been attacked and if there’s any further escalation, then the gold price will rally harder,” David Lennox, an analyst at Fat Prophets, said by phone. “I don’t know what the U.S. will do: they’re locked and loaded,” he said, adding Trump is an “unknown quantity.”Spot bullion climbed as much as 1.6% to $1,512.14 an ounce and was at $1,503.88 at 6:59 a.m. in London, while silver advanced as much as 3.2% to $17.9938 an ounce. Platinum and palladium also rose.Heading into this week, bullion holdings in exchange-traded funds had shrunk on signs that relations between Beijing and Washington were at last starting to thaw. The holdings fell 17.2 tons last week, the biggest weekly loss in tonnage terms since March 1, but they’re still near the highest level since 2013.“Gold and silver should be significant beneficiaries of the expected rush to safety, and the impending rounds of central bank rate cuts this week,” Jeffrey Halley, a senior market analyst at Oanda Corp., said in a note. “A continued escalation of tensions, or a move into outright hostilities in the Middle East, could see a $1,600 handle sooner rather than later.”To contact the reporter on this story: Ranjeetha Pakiam in Singapore at rpakiam@bloomberg.netTo contact the editors responsible for this story: Phoebe Sedgman at psedgman2@bloomberg.net, Jake Lloyd-SmithFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Investing.com
Gold Prices Jump Amid Middle East Tensions; Investors Eye Central Banks Meetings
Investing.com - Gold Prices jumped on Monday in Asia after a strike against two Saudi Arabian oil facilities heightened tensions in the Middle East and boosted safe-haven demand.
- FX Empire
Crude Oil Price Update – Inside Major Retracement Zone at $59.29 to $62.64 as Investors Await Repair Updates
The market seems to be seeking a balance inside $59.29 to $62.64. Trader reaction to the upper and lower levels of the major retracement zone will likely determine the next major moves
- FX Empire
Brent Crude Oil Price Update – First Major Target Area is $67.02 to $70.53
We’re likely to be in a momentum driven market from the opening today so main tops and retracement zone levels are not likely to be that important initially in the session. Once the markets calm down and traders learn more about the timing of the repairs then traders will become more concerned over support and resistance.
- Coindesk
What Bitcoin’s Valuation Says About Its Volatility
Noelle Acheson argues that bitcoin’s volatility is intrinsic and is unlikely to diminish with increased liquidity – and that’s not a bad thing.
- FX Empire
Price of Gold Fundamental Weekly Forecast – Likely to Weaken if Fed is Dovish on Future Rate Cuts
Gold traders will also be watching Wednesday’s Fed interest rate and monetary policy decisions. A 25-basis point rate cut is widely expected, however, traders will be more interested in how Fed policymakers feel about a December rate cut.
- FX Empire
US Stock Market Overview – Stock Close Mixed Despite Robust Retail Sales Report
Consumer sentiment rises more than expected
- FX Empire
S&P 500 Weekly Price Forecast – Stock markets reached towards highs again
The S&P; 500 rallied significantly during the week, reaching towards the highs yet again. As we head into the weekend, it looks like a breakout is imminent, but we may get the short-term pullback between now and then to build up momentum.
- FX Empire
Silver Weekly Price Forecast – Silver markets fall again for the week
The Silver markets initially tried to rally during the week but then found a lot of resistance at the $18.50 level. We rolled right back over and formed a very bearish looking candle for the week.
- FX Empire
Silver Price Forecast – Silver markets fall to close the week
The Silver markets fell during the trading session on Friday to test a significant uptrend line, and at this point is going to be very interesting to see if we can hang on. That being said, we are obviously rotating quite a bit.
- Market Realist
Gold Prices: Cramer and Citigroup at Odds about Upside
Gold has been benefiting from the US-China trade war. However, some observers, such as Jim Cramer and Citigroup, disagree on what's in store for gold.
- FX Empire
E-mini S&P 500 Index (ES) Futures Technical Analysis – Strengthens Over 3019.00, Weakens Under 3006.75
Based on the early price action and the current price at 3019.00, the direction of the December E-mini S&P; 500 Index the rest of the session on Friday is likely to be determined by trader reaction to the uptrending Gann angle at 3019.00.
- Investing.com
Gold Gives up Gains After Rally; All Eyes on Fed
Investing.com - Gold prices gave up their gains after rallying following the European Central Bank’s (ECB) decisions to cut rate and promise quantitative easing.
- FX Empire
GBP/USD, USD/CAD, USD/MXN – North American Session Daily Forecast
Canadian dollar, British Pound show limited movement, Mexican peso gains ground. Investors eye U.S. retail sales
- FX Empire
Crude Oil Price Forecast – Crude oil markets continue selloff
The crude oil markets have pulled back a bit during the trading session again on Thursday, as we continue to chop around overall. Crude oil has looked a very negative, but at this point we are trying to form some type of wedge. Even if we do break down from here, there are a lot of support levels underneath.
- FX Empire
Natural Gas Price Forecast – Natural gas markets bounce on Thursday
Natural gas markets initially fell during the trading session on Thursday but turned around at the $2.50 level to form a bit of a hammer midday. Ultimately though, this is a market that is struggling at the 200 day EMA.
- FX Empire
Gold Price Forecast – Gold markets noisy again
Gold markets rallied initially during the trading session on Thursday, as we continue to see a lot of choppy behavior in the precious metals markets. The ECB had an interest rate decision and that of course has an influence on what happens with gold, and although they did cut rates, they perhaps didn’t cut them far enough.
- FX Empire
GBP/USD Price Forecast – the British pound recovers
The British pound initially fell during the trading session on Thursday, breaking below the 50 day EMA before rallying again. Quite frankly, this is a market that is all over the place and it could continue to be very difficult to trade.
- FX Empire
EUR/USD Price Forecast – Euro goes back and forth after ECB announcement
The Euro went back and forth during the trading session on Thursday as the ECB announcement came out with the interest rate cut and of course the bond buyback program starting back up.
- FX Empire
AUD/USD Price Forecast – Australian dollar continues to hammer resistance
The Australian dollar has rallied again during early trading on Thursday, as we continue to find the same area of selling pressure. At this point, it looks very likely that the market will continue to be very noisy which makes quite a bit of sense as the Australian dollar is very sensitive to the US/China trade situation.
- FX Empire
E-mini S&P 500 Index (ES) Futures Technical Analysis – Trader Reaction to 3002.25 Gann Angle Sets Tone
Based on the early price action and the current price at 3009.25, the direction of the September E-mini S&P; 500 Index the rest of the session on Thursday is likely to be determined by trader reaction to the uptrending Gann angle at 3002.25.
- FX Empire
Global Markets Rise On Trade Thaw, ECB Cuts Rates And Buys Bonds, Hong Kong Down On LSE Deal Scrutiny
Global markets rise on trade hopes and stimulus plans, the S&P; 500 is striking distance from new all-time highs.
- FX Empire
Price of Gold Fundamental Daily Forecast – Improving Risk Outlook Likely to Outweigh ECB Decision
Too many variables makes me think we’ll see a two sided trade with a bias to the downside because of improving trade conditions.
