David

Dollar off 3-week low, yuan eases after PBOC move TOKYO, Oct 12 (Reuters) – The dollar inched up in early Monday trade as riskier currencies slipped after negotiation on a U.S. stimulus package ran into resistance and as the yuan dropped after China's central bank took a measure seen as aimed at curbing its strength. The euro slipped 0.1% to $1.1817 while the Australian dollar shed 0.3% to $0.7222 . The yen was little changed at 105.52 to the dollar…

This driver could 'propel' gold price back to its new all-time highs – Bloomberg Intelligence There is one driver that could really re-ignite the gold price rally during this turbulent fourth quarter, according to Bloomberg Intelligence (BI). All macro and political risks aside, a peak in the dollar is the one factor that can push gold significantly higher, BI senior commodity strategist Mike McGlone said in his Q4 update. "Gold is likely to remain atop our macro-performance scoreboard in 4Q,"…

Gold price has bottomed, $4k target for either Trump or Biden victory – Frank Holmes Gold has traded sideways for the last few weeks, but the price action is forming a bottom, said Frank Holmes, CEO of U.S. Global Investors. Despite market volatility ahead of the November presidential election, Holmes maintains his $4,000 price target. “The bottom that you’re seeing in gold is like a perfect Miami beach bottom. Gold will go up and it will go down, the DNA…

Gold price tumbles 2% as Trump calls off stimulus talks with Democrats Gold plunged along with stocks after U.S. President Donald Trump called off stimulus negotiations with the Democrats “until after the election.” The yellow metal once again fell below its key $1,900 an ounce level that it was trying to breach on a sustainable basis this week. At the time of writing, December Comex gold futures were trading at $1,881.50, down 2.01% on the day. “I have instructed my…

Central banks could be stepping up gold purchases after 2020 pause Cntral banks around the world are likely to re-engage with gold purchases in 2021 after this year's pause, according to several banks and research firms. The official sector's gold purchases reached record levels in 2018 and 2019, seeing a total of 656 and 667 tons bought respectively. Gold demand from the official sector is looking to end 2020 at just 375 tons — the lowest level in a decade,…

Analysts see gold on the upswing after holding support at $1,850 The gold market could have turned a corner and is now heading higher as prices look to end the week above $1,900 an ounce and sentiment among retail investors and market analysts is looking bullish, according to the latest results of the Kitco News Weekly Gold Survey. Although both Main Street investors and Wall Street analysts expect to see gold prices push higher next week, there is still some…