Gold’s on track for its longest losing streak in almost 30 years, but Jeff Kilburg, a CNBC “Futures Now” trader, says the yellow metal could be due for a comeback.
Commodity News
Commodity News – Real-time Accurate MCX Commodity Market News and forecast for today. Best commodity market online tips through whatsapp and telegram by Neal Bhai.
Gold Holds Near Six-Week Lows as Dollar Firms on Robust US Data
Gold prices held close early Friday to near six-week lows hit in the previous session, as the dollar firmed after upbeat US economic data supported the Federal Reserve’s resolve for steady interest rate hikes over the next year.
US Crude Up 55 cents, Settling at $72.12, as Markets Frets over Iranian supply Gaps
GSR (Gold Silver Reports) — U.S. President Donald Trump last week demanded that OPEC raise production to prevent further price rises ahead of key congressional elections in early November.
Gold Prices Slip Today on Weak Demand, Silver Follows – GSR
Gold Silver Reports (GSR) — Gold prices declined by Rs 100 to Rs 31,550 per 10 gram following slowing demand from local jewellers amid a weak global trend, reported PTI. Global gold prices rose marginally as investors largely discounted a US interest rate hike, but gains were limited as the dollar gained following reports of a row in Italy’s new government.
Crude Oil Price Rally Hits Asia Where It Hurts
Rising oil prices are pushing up prices for fuels in Asia, and this is coming at a bad time; many Asian currencies are depreciating as economic growth falters.
Gold Prices Inch Up as Investors look for Bargains – Gold Silver Reports
US gold futures were up 0.1 per cent at $1,200.40 an ounce.
Gold Fundamentals Reports
Spot gold had risen 0.2 per cent to $1,196.21 as of 0057 GMT. On Wednesday, the metal touched its lowest since September 11 at $1,190.93 an ounce.
Trade war eating up China industrial profits – Gold Silver Reports
GSR (Gold Silver Reports) — While other data still have yet to show the trade war impact, industrial profits seem to show that the trade war is eating up profits of manufacturers in China, and even more so for foreign manufacturers.