GC=F - Gold Dec 19
| Pre. Settlement | N/A |
| Settlement date | 2019-12-27 |
| Open | 1,475.00 |
| Bid | 1,446.00 |
| Last price | 1,476.90 |
| Day's range | 1,463.30 - 1,485.30 |
| Volume | 304,892 |
| Ask | 1,494.80 |
- FX Empire
The Crypto Daily – Movers and Shakers -07/12/19
It’s a mixed start for the majors. A Bitcoin move back through to $7,600 levels would signal support for the broader market.
- Bloomberg
Goldman Says Case to Diversify With Gold ‘as Strong as Ever’
(Bloomberg) -- Goldman Sachs Group Inc. said investors should diversify their long-term bond holdings with gold, citing “fear-driven demand” for the precious metal.“Gold cannot fully replace government bonds in a portfolio, but the case to reallocate a portion of normal bond exposure to gold is as strong as ever,” Goldman analysts including Sabine Schels said in a note Friday. “We still see upside in gold as late cycle concerns and heightened political uncertainty will likely support investment demand” for bullion as a defensive asset.The precious metal climbed to a six-year high in September as the Federal Reserve cut borrowing costs and the total pile of debt yielding less than zero climbed to a record $17 trillion, boosting the appeal of non-interest bearing gold.Hedge funds and other large speculators boosted their bullish bets on the precious metal by 8.9% in the week ended Dec. 3, government data showed Friday. That’s the biggest gain since late September.Gold has fallen more than 6% from the peak to close at $1,460.17 in the spot market Friday.While Goldman said the correction on bullion prices has further room to run, the bank is still sticking to its forecast prices will climb to $1,600 over the next year.(Adds hedge fund position in fourth paragraph.)\--With assistance from Marvin G. Perez.To contact the reporter on this story: Yvonne Yue Li in New York at yli1490@bloomberg.netTo contact the editors responsible for this story: Luzi Ann Javier at ljavier@bloomberg.net, Joe RichterFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Reuters
Saudi delivers deeper cuts as OPEC+ oil producers back new pact
Saudi Arabia spearheaded a deal on Friday that will see the OPEC+ group of oil producers commit to some of the sector's deepest output cuts in a decade aiming to avert oversupply and support prices. Saudi with OPEC peers and allies led by Russia backed a plan that could see cuts of as much as 2.1 million barrels per day (bpd), Saudi Energy Minister Prince Abdulaziz bin Salman said. Brent oil rose 2% to more than $64 a barrel after the announcement.
- FX Empire
US Stock Market Overview – Stocks Surge Following Robust US Jobs Report
US consumer sentiment rises
- FX Empire
S&P 500 Weekly Price Forecast – Stock Markets Recover Drastically For The Week
The S&P; 500 broke down significantly during the week, reaching down towards the 3075 level before bouncing significantly to form a massive hammer. At this point in time, it’s likely that the market will continue to go much higher.
- FX Empire
Silver Weekly Price Forecast – Silver Markets Break Down Significantly
Silver markets initially tried to rally during the week but ran into a significant amount of resistance at the previous uptrend line, showing signs of resistance. This is a horrifically negative sign.
- FX Empire
Crude Oil Weekly Price Forecast – Crude Oil Markets Rally For The Week
Crude oil markets rally during the week, testing the top of the overall consolidation as OPEC produces more cuts. That being said though, the 500,000 barrel a day cut has essentially been priced into the market, so we have not been able to break out of the consolidation range.
- FX Empire
Gold Price Forecast – Gold Markets Break Down Significantly
Gold markets got crushed during the day on Friday as a major “risk on” trade has come into play after a strong job summer. Having said that, we are still above significant support.
- Zacks
Gold to Shine in 2020: ETFs to Consider
We have highlighted some solid reasons why gold will remain strong next year.
- Investing.com
Gold Floored by U.S. Jobs; Palladium Makes New Highs
Investing.com – Gold has a new nemesis in the form of U.S. jobs numbers to beat it down, while palladium proved its record-making streak just cannot be stopped.
- Zacks
Gold Mining Stocks' Near-Term Prospects Shine Bright
Gold Mining Stocks' Near-Term Prospects Shine Bright
- Bloomberg
Gold Rally Foiled Again as Payrolls Torpedo Weekly Gain
(Bloomberg) -- Just when it looked like gold’s rally had gotten back on track, the U.S. payrolls report came along.The number of jobs added to the economy jumped 266,000 last month, the most since January, according to a government report Friday that topped all estimates in a Bloomberg survey calling for 180,000 jobs.Gold has struggled to sustain recent rallies as resilient U.S. economic data and bets on progress toward a U.S.-China trade deal limit demand for the metal as a haven. That weakens the case for more cuts on U.S. borrowing costs, further damping the appeal of the non-interest-bearing precious metal. Prices are down more than 6% from a six-year high reached in September.The jobs report “is a blow-away number: It means there will be no more interest-rate cut, which is bearish for gold,” says Phil Streible, senior market strategist at RJO Futures.Bullion futures for February delivery fell 1.2% to settle at $1,465.10 an ounce at 1:30 p.m. on the Comex in New York. Prices slipped 0.5% for the week.The jobless rate dipped to 3.5%, matching the lowest since 1969. Average hourly earnings climbed 3.1% from a year earlier, exceeding projections, and the prior month was revised higher.Earlier Friday, equities rose after China said it’s in the process of waiving retaliatory tariffs on imports of U.S. pork and soy by domestic companies. That’s a procedural step that may also signal a broader trade agreement with the U.S. is drawing closer.“China is waiving some tariffs, which means we’re close to an agreement,” also weighing on gold, Streible said.To contact the reporter on this story: Yvonne Yue Li in New York at yli1490@bloomberg.netTo contact the editors responsible for this story: Luzi Ann Javier at ljavier@bloomberg.net, Joe Richter, Christine BuurmaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- FX Empire
USD/CAD – Canadian Dollar in Holding Pattern Ahead of Job Numbers
The Canadian dollar is flat on Friday, but that could change in the North American session. Canada and the U.S. will both release key employment numbers at 15.:30 GMT.
- FX Empire
EUR/USD Mid-Session Technical Analysis for December 6, 2019
Based on the early price action and the current price at 1.1094, the direction of the EUR/USD the rest of the session on Friday is likely to be determined by trader reaction to the downtrending Gann angle at 1.1111. This angle stopped the buying earlier in the session.
- Coindesk
Four Insights on Crypto Liquidity From Binance US and FTX
Missed our webinar on crypto exchanges? Read the takeaways from CoinDesk Research's chat with Binance US CEO Catherine Coley and FTX’s Sam Bankman-Fried.
- FX Empire
GBP/USD – Pound Pauses After Impressive Rally, U.S. Job Data Looms
The British pound has taken a breather on Friday, but is up almost 2 percent on the week. The pound has gained ground as the Conservatives continue to hold a lead in election polls. The Aussie and NZ dollar have also posted sharp gains against the U.S dollar this week.
- Investing.com
Gold Prices Fall as Uncertainty Over Sino-U.S. Trade Progress Continues
Investing.com – Prices of the safe-haven gold fell on Friday in Asia as traders continued to monitor Sino-U.S. trade news.
- FX Empire
Natural Gas Price Prediction – Prices Consolidate Forming Bear Flag
Inventories declined less than expected
- Zacks
Newmont (NEM) Up 3.9% Since Last Earnings Report: Can It Continue?
Newmont (NEM) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
- Zacks
5 Gold Stocks to Add Glitter to Your Portfolio in December
Uncertainties related to the United States-China trade talks, global economic slowdown and downbeat view for key sectors are triggering demand for gold.
- Investing.com
Gold Drifts Ahead of Payrolls; ETFs Saw Outflows in Nov
Investing.com -- Gold prices edged higher on Thursday but were essentially rangebound in the absence of major new developments in the U.S.-China trade war.
- Reuters
OPEC, allies agree to deepen oil output cuts
VIENNA/LONDON (Reuters) - Oil producers led by Saudi Arabia and Russia agreed on Thursday to cut output by an extra 500,000 barrels a day in the first quarter of 2020 but stopped short of pledging action beyond March. The countries involved pump over 40% of the world's oil, and their new combined cuts amount to 1.7 million bpd or 1.7% of global production. A panel of energy ministers representing the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC producers led by Russia recommended the deeper cut on Thursday, Russian Energy Minister Alexander Novak said.
- FX Empire
Crude Oil Price Update – Bullish OPEC News Could Launch Move into $61.48
If OPEC and its allies decide to cut production more than expected then look for a breakout over the last main top at $58.74. The daily chart shows there is plenty of room to the upside with the next major target the September 16 main top at $61.48.
- FX Empire
Is a Local Top in Gold At Hand?
The odds are that it’s not, and that we’re actually seeing a business-as-usual kind of situation. That is if one knows the details of the gold trading business.
