Gold Futures Prices Hits 9-Month High, Buoyed by Geopolitical Worries

Gold Futures Prices Hits 9-Month High, Buoyed by Geopolitical Worries

Gold futures prices rose to the highest level in nine months on Friday, infiltrated to the $ 1,300 threshold for the first time since Nov 2016 with some investors gravitate towards safe-haven assets on political uncertainty in the United States, and a series of terrorist attacks in Spain on Thursday to support the request for safe haven.

Spot gold climbed 0.3 percent to $1,291.65 per ounce, after climbing for two straight days.

Comex gold futures were up around $8.99, or about 0.7%, to $1,301.53 a troy ounce, the highest since Nov 2016.

Gold prices rose after hitting a van in a pedestrian in a crowded tourist area in Barcelona this evening, killing at least 14 people and wounding 100 others.

Shortly afterwards, a second attack took place in Barcelona’s coastal city of Cambrils, where police said they killed five attackers.

Local officials said three men had so far been arrested as counterterrorism operations across the country were still under way.

The Islamic state claimed responsibility for the incident, although the claim was not verified.

Asian Asian investors joined a global decline in risk assets on Friday and the dollar fell on growing doubts about US President Donald Trump’s ability to achieve his economic agenda.

MCX Gold was up 0.12 per cent, or Rs 36, at Rs 29187 per 10 gram.

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Gold Futures Prices Trim Losses But Remain Under Pressure on Rising Risk Appetite

Gold Futures Prices Trim Losses But Remain Under Pressure on Rising Risk Appetite

Gold futures contributed to a drop in losses on Wednesday, as US housing data boosted demand for the US dollar, but the precious metal remained under pressure amid a general rise in risk appetite.

On the Comex Exchange, gold futures for December delivery were down 0.16% at $1,277.60, off session lows of $1,274.68.

MCX Gold was down 0.60 per cent at Rs 28906 per 10 gram.

The yellow metal suffered its smallest decline in a single day in nearly six weeks on Tuesday after strong data on retail sales and manufacturing activity in the United States kept alive the opportunity to raise interest rates by the Federal Reserve this year.

Market participants were watching the latest Fed meeting on indicators for future policies.

The demand for precious metals as a safe haven continued to weaken after North Korea said on Tuesday it had postponed a decision on a plan to launch a missile in the US area of Guam in the Pacific Ocean, while watching the US measures a little longer.

However, the US dollar sentiment has become weak after the US Commerce Department said on Wednesday that the number of homes and building permits dropped in July.

Latest holdings of the world’s largest gold-backed exchange-traded fund, SPDR Gold Trust, rose 0.53% to 791.01 tonnes on Monday.

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Gold Futures Prices Set for Biggest Weekly Gain Since April Amid Tensions Beween N.Korea and US

Gold Futures Prices Set for Biggest Weekly Gain Since April Amid Tensions Beween N.Korea and US

Gold futures prices rise on Friday as geopolitical tensions between the United States and North Korea continued to raise demand for safe haven, while inflation data in July weakened expectations and reduced the possibility of a Fed rate hike this year.

Gold futures for December delivery on the Comex rose $3.40, or 0.26%, to $1,293.37 a troy ounce.

MCX Gold was trading 0.28 per cent up at Rs 29,257 per 10 gram.

US President Donald Trump issued a new threat to North Korea, stressing that US “locked and loaded” weapons also accused Pyongyang led by the Korean peninsula on the brink of nuclear war.

Trump’s latest threats from North Korea and has resulted in increased demand for gold for a safe haven, and raise the price of gold for the highest weekly gain in four months.

SPDR Gold Trust GLD latest holdings stood at 786.87 tonnes, down 0.27 tonnes, from previous business day.

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Gold Hits Session Highs on Safe-Haven Demand After U.S. Inflation Data Disappoints

Gold Hits Session Highs on Safe-Haven Demand After U.S. Inflation Data Disappoints

Gold prices rose on Thursday to reach their highest levels after data showed that US production prices fell unexpectedly in July, the biggest drop in nearly a year. In addition to demand for safe haven caused by high tension on the Korean Peninsula, gold prices kept rising on Thursday.

Comex gold futures rose to a daily peak of $1,291.20 a troy ounce. It was last at $1,290.45, up $11.10, or around 0.9%.

MCX Gold was trading 0.25 per cent up at Rs 28,915 per 10 gram.

The Labor Department said the producer price index fell 0.1 percent last month, reflecting June’s gains of 0.1 percent. July’s decline was the largest since August 2016.

In the 12 months to July, the producer price index rose 1.9% after rising 2.0% in the year to June.

Economists had expected PPI to rise by 0.1% last month and 2.2% higher than last year.

The unexpected resulting decline is producer prices to support bets the slow pace of raising interest rates from the Federal Reserve.

Latest holdings at the SPDR Gold Trust fell a slight 0.03 per cent to 786.87 tonnes on Monday, the lowest since March 2016.

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Gold Prices Spikes 1% on Rising Tension Between US-North Korea

Gold Prices Spikes 1% on Rising Tension Between US-North Korea

Gold prices in precious metals rose sharply on Wednesday as investors piled up in safe places amid escalating tensions between the United States and North Korea, where Pyongyang said it was considering plans to attack Guam.

Comex gold futures jumped $13.50, or around 1.1%, to $1,276.10 a troy ounce. Spot gold rose 0.6% to $1,267.79 per ounce at early trade. Silver rose 1.2% to $16.70 per ounce.

MCX Gold was up 0.67 per cent, or Rs 191, at Rs 28570 per 10 gram. MCX Silver was up 0.81 per cent, or Rs 304, at Rs 37803 per 1 kg.

With no major economic reports on Wednesday, market players seemed to look to the monthly inflation indicators later in the week to get new clues about the timing of the next Fed to raise the interest rate.

A report is due on US production for the month of July on Thursday, prices, and will report inflation in consumer prices released on Friday.

The yellow metal has received good support in recent weeks as expectations faded on the lifting of the third Fed interest rate this year, along with the deepening of the White House’s political turmoil, which boosted precious metals attract.

Latest holdings at the SPDR Gold Trust fell a slight 0.03 per cent to 786.87 tonnes on Wednesday, the lowest since March 2016.

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Gold Prices Lower on Weak Global Demand; Nonfarm Payroll Data Eyed

Gold Prices Lower on Weak Global Demand
Gold futures fell on Thursday as demand from traders fell, as they looked at US employment data to gauge how this affected the Fed’s monetary policy stance.

Comex gold futures for August were at $1,265.72 a troy ounce, down $6.10, or about 0.5%.

A the MCX Gold was down 0.19 per cent, or Rs 54, at Rs 28,383 per 10 gram.

Gold has been well supported in recent weeks, reaching its highest level since June 14 early at $ 1,273.30 this week, and expectations for a third rate hike of this year, the Federal Reserve with the increase in excitement strengthened the policy of The White House of attractive precious metal.

Investors are focusing on the following data on non-farm payrolls in the United States in search of new indicators on the timing of reducing the balance of payments of the Federal Reserve and its ability to raise interest rates again this year.

The demand for physical gold is weak, with the latest holdings in the largest fund, backed with gold in the trade market, Gold Spyder Troost, fell more than 7 per cent in July, the largest monthly inflow since April, 2013.

Demand for gold in India rose 37 percent to 167.4 tonnes in April-June 2017, boosted by seasonal demand and improved rural sentiment, the World Gold Council said in a report.

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Gold Futures Little Drop Near 7-Week Highs as Markets Digest U.S. Economic data

Gold Futures Little Drop Near 7-Week Highs as Markets Digest U.S. Economic data

Gold futures prices were little changed near a seven-week high on Tuesday as market players beat a major boost in US economic data to gauge the strength of the world’s largest economy and how it would affect the Fed’s monetary policy outlook.

Comex gold futures for August were at $1,266.62 a troy ounce, up 20 cents. It touched its highest since June 14 at $1,270.80 in the prior session.

MCX Gold was trading 0.13 per cent, or Rs 36, down at Rs 28,521 per 10 gram.

Consumer spending did not rise in the United States barely in June, where the income increase failed for the first time in seven months, indicating a moderate pace of growth in consumption in the third quarter.

The report also showed that the CPI excluding food and energy rose by 0.1%. In the 12 months to June, the so-called core personal consumption index rose 1.5%.

A fundamental measure is the inflation gauge favored by the Fed. The US Central Bank has a 2% target.

SPDR Gold Trust GLD, fund, said its latest holdings stood at 791.88 tonnes.

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