Wednesday, 16 October 2019
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
Gold Stays Below 2-Week-Old Resistance-Line Despite Trade/Political Pessimism
Monday, 23 September 2019 08:58 WIB | PRECIOUS METALS |GOLDEMAS

Gold prices fail to portray the recent risk-aversion wave as they remain below near-term resistance-line while taking rounds to $1,513 on early Monday.

Renewed geopolitical tension between Saudi Arabia and Yemen has been a major driving force for markets™ immediate risk sentiment off-late. Following a threat from Houthi rebels, Saudi Arabia has also flashed signals of war if an attack takes place whereas the US deployed additional forces in the Middle East as a measure being œdefensive in nature™.

On the other hand, Chinese delegates™ early leave from the US, without visiting the US farms, got a negative signal relating to the recently conducted trade negotiations in Washington. However, the US and Chinese media have been trying to cover the issue in order to (likely) avoid the bad start of the talks in October.

Also favoring the risk-off could be the continuation of an easy monetary policy wave from the global central bankers amid a lack of positive headline statistics and on-going trade uncertainty.

While risk-off sentiment dragged the equities and the US Treasury yields down, the Japanese Yen (JPY) and Gold have to bear the burden of the US Dollar™s (USD) sturdiness. It should also be noted that Autumnal Equinox Day holiday in Japan and a lack of fresh signal during the early Asian session also restricts the safe-haven™s upside.

Looking forward, traders could keep an eye over the preliminary activity numbers from the Eurozone and the US while also following the trade/political headlines for further direction.

Source : FX Street

RELATED NEWS
Gold Holds Near Two-Week Low as Risk, Growth in Focus...
Wednesday, 16 October 2019 15:24 WIB

Gold held near the lowest close in two weeks as investors weighed a revival in U.S.-China tensions and prospects for slower global growth against stronger-than-expected U.S. corporate earnings. ...

Gold Rises From Two-Week Low as Risk, Growth in Focus...
Wednesday, 16 October 2019 12:47 WIB

Gold climbed from the lowest close in two weeks as investors weighed a revival in U.S.-China tensions and prospects for slower global growth against stronger-than-expected U.S. corporate earnings...

Gold edges higher as Brexit uncertainty spurs safe-haven bid...
Wednesday, 16 October 2019 08:48 WIB

Gold prices edged higher on Wednesday after shedding nearly 1% in the previous session, as it remained unclear if Britain could avoid postponing its departure from the EU beyond Oct. 31. Spot gold wa...

Gold Posts Lowest Close So Far This Month as Investors Weigh Trade Deal, Earnings Season...
Wednesday, 16 October 2019 03:44 WIB

Gold prices declined on Tuesday to mark their lowest settlement month to date, as investors awaited clarity on U.S.-China trade talks and as earnings season starts on a positive note. Gold for Decemb...

Gold edges lower as market participants weigh trade deal, earnings season...
Tuesday, 15 October 2019 21:08 WIB

Gold traded lower on Tuesday as market participants awaited clarity on U.S.-China trade talks and as earnings season starts on a positive note. Gold for December delivery on Comex was off $6.50, or 0...

LATEST NEWS
Oil mixed as worries over demand prospects persist

Oil futures were putting in a mixed performance Wednesday, with Brent crude edging lower and West Texas Intermediate in positive territory, as worries over global demand lingered. West Texas Intermediate crude for November delivery rose 25 cents,...

Stock futures point slightly lower as worries remain over U.S.-China deal

Stock-index futures indicated a slightly lower start for Wall Street Wednesday, with analysts citing worries that tensions between the U.S. and China over Hong Kong protests could complicate efforts to complete a trade deal. Futures on the Dow...

Hong Kong Democracy Protesters Call For US Congress Proposed Sanctions

Hong Kong pro-democracy advocates are urging the U.S. Congress to pass a human rights bill that could impose trade sanctions on this international financial center, a measure that critics say could cause more harm than good. At a massive...

POPULAR NEWS
Gold Flirts With $1,500 Again on New Trade War Worries
Tuesday, 15 October 2019 03:33 WIB

What™s bad for trade is good for gold. The yellow metal found favor again with haven investors on Monday, flirting with the key bullish level of...

Gold Posts Lowest Close So Far This Month as Investors Weigh Trade Deal, Earnings Season
Wednesday, 16 October 2019 03:44 WIB

Gold prices declined on Tuesday to mark their lowest settlement month to date, as investors awaited clarity on U.S.-China trade talks and as...

Gold Edge Higher on Trade Optimism; Palladium at Record
Monday, 14 October 2019 16:23 WIB

Gold holds below its 50-day moving average after dropping last week on U.S.-China trade optimism. Palladium hit a fresh record. Spot...

Gold edges higher as Brexit uncertainty spurs safe-haven bid
Wednesday, 16 October 2019 08:48 WIB

Gold prices edged higher on Wednesday after shedding nearly 1% in the previous session, as it remained unclear if Britain could avoid postponing its...