Gold futures are on track for their third consecutive session loss as riskier equities appealed to investors more than safe-haven assets. With the Federal Reserve likely to cut interest rates later this month and the US-China trade dispute potentially de-escalating, investors were more confident in financial markets. December gold futures tumbled .60, or 0.3%, to ,510.90 per ounce at 16:37 GMT on Monday on the Comex division of the New York Mercantile Exchange. Gold prices are poised for their third straight session loss, driven in part to trade concerns dissipating and much-anticipated monetary stimulus. Still, the yellow metal is up 18% so far this year. Silver, the sister commodity to gold, is posting modest gains to kick off the trading week. October silver futures rose %excerpt%.08,
Andrew Moran considers the following as important: Gold
This could be interesting, too:
Andrew Moran writes Gold Falls to Three-Month Low on Trade Optimism, Rising Yields
Mike Shedlock writes 10-Reasons Why Productivity Is Declining
Andrew Moran writes Gold Steady as US-China Trade Optimism Boosts Risk Appetite
Andrew Moran writes Gold Flat on Strong October Jobs Report, Weak Manufacturing
Gold futures are on track for their third consecutive session loss as riskier equities appealed to investors more than
December gold futures tumbled $4.60, or 0.3%, to $1,510.90 per ounce at 16:37 GMT on Monday on the Comex division of the New York Mercantile Exchange. Gold prices are poised for their third straight session loss, driven in part to trade concerns dissipating and
Silver, the sister commodity to gold, is posting modest gains to kick off the trading week. October silver futures rose $0.08, or 0.45%, to 18.20 an ounce. The white metal has advanced 17%
For now, experts expect gold to stay on a positive course, though some analysts do think there is some room for correction. Gold could slide to $1,475 but the precious metal would continue its bullish trend, experts note.
Despite the darkened mood in global financial markets, traders are hitting the pause button on
US and Chinese trade representatives will meet early next month to restart trade talks. On Monday, Treasury Secretary Steven Mnuchin confirmed that both sides have reached a “conceptual agreement” on enforcement tools pertaining to intellectual property theft between the two powerhouse economies. Also, Beijing pledged to purchase more US agriculture in exchange for easing restrictions on telecommunications giant Huawei.
Meanwhile, after last week’s disappointing August jobs report and weak manufacturing data, it is likely that the Federal Reserve will cut interest rates by a
On the data front, the major focus will be on inflation later this week and retail sales.
In other metal markets, October copper futures slipped $0.0085, or 0.32%, to $2.6255 per pound. December platinum futures fell $6.40, or 0.67%, to $952.10 an ounce. October palladium futures dropped $5.30, or 0.34%, to $1,539.40 per ounce.
If you have any questions and comments on the commodities today, use the form below to reply.