Wednesday, 08 July 2020
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Wednesday, 8 July 2020 01:13 WIB

Gold futures marked their highest finish in nearly nine years, after climbing to nearly $1,810 an ounce during Tuesday's session. Prices had seen a "routine downside correction following recent gains" in early Tuesday action, that was "once again seen as a value-buying opportunity in the yellow metal, on strong notions more price appreciation lies ahead," said Jim Wyckoff, senior analyst at Kitco.com, in a market update. August gold rose $16.40, or 0.9%, to settle at $1,809.90 an ounce. That was the highest settlement since Sept. 16, 2011, based on the most-active contracts, according to...

RECENT NEWS
Gold futures finish higher, near 1-week high
Tuesday, 7 July 2020 01:35 WIB | GOLD EMAS

Gold futures moved higher on Monday, building on last week's climb to mark their highest finish in almost a week. The ICE U.S. Dollar Index was down 0.4% in Monday dealings, providing a boost to dollar-denominated gold prices.  August gold rose $3.50, or 0.2%, to settle at $1,793.50 an ounce. That was the highest settlement since June 30, when prices ended above $1,800 for the first time since September 2011. Source: Marketwatch

Gold Rises Back Near $1,800 as U.S. Dollar Softens to Start July's First Full Week
Monday, 6 July 2020 20:16 WIB | GOLD EMAS

Gold futures headed higher early Monday, supported in part by a weakening U.S. dollar, which was providing a runway for the commodity even as global stocks rallied. The U.S. dollar was off 0.5%, as measured by the ICE U.S. Dollar Index, a gauge of the buck against a half-dozen currencies. A weaker U.S. dollar can make assets priced in the currency more attractive to buyers using other monetary units. Against that backdrop, August gold rose $4.30, or 0.2%, at $1,794.50 an ounce, after the most-active contract finished on Thursday around 0.5% higher for the holiday-abbreviated week,...

Oil Mixed on Tighter Supply, Surge in U.S. Virus Cases
Monday, 6 July 2020 19:04 WIB | Minyak WTI Brent Oil,

Oil prices were mixed on Monday, with Brent crude edging higher, supported by tighter supplies and positive economic data, while U.S. benchmark WTI futures dropped on concern that a spike in coronavirus cases could curb demand in the United States. Brent crude LCOc1 was up 40 cents, or 1%, to $43.20 per barrel by 10:42 GMT. U.S. West Texas Intermediate (WTI) crude CLc1 was down 9 cents, or 0.2%, at $40.56. In the first four days of July alone, 15 U.S. states have reported record increases in new cases of COVID-19, which has infected nearly 3 million Americans and killed about 130,000,...

Sterling Falls vs Euro, Steady vs Dollar; Chancellor's Support Measures in Focus
Monday, 6 July 2020 15:46 WIB | pound Sterling, Poundsterling

The pound fell against the euro, as the common currency rose on Monday, and held steady against the U.S. dollar, as traders looked ahead to this month's Brexit negotiations and more government support measures expected later this week. By the end of July, traders anticipate more clarity on whether Britain will agree a trade deal with the European Union. Britain left the EU in January, but has full access to the bloc under a transition period that runs until the end of December. Sterling was last down 0.4% against the euro at 90.43 pence , but flat at $1.2485 against the dollar. Source :...

Gold Ticks Up on Concerns Over Increase in Virus Cases
Monday, 6 July 2020 14:27 WIB | GOLD EMAS

Gold climbed as investors sought haven assets amid the rise in coronavirus cases, with the World Health Organization reporting a one-day high in global infections over the weekend. U.S. virus cases increased 2%, more than the seven-day average, according to an updated Johns Hopkins University count, while global cases topped 11.4 million. Mexico overtook France with the fifth-deadliest outbreak, while Indias coronavirus epidemic became the third biggest in the world, surpassing Russia. Spot gold as much as +0.3% to $1,776.80/oz, and was at...

Oil Prices Mixed as Coronavirus Spike Casts Shadow Over U.S. Demand
Monday, 6 July 2020 13:12 WIB | Minyak WTI Minyak jenis Brent Oil, Crude Oil

Oil prices offered up a mixed market snapshot on Monday, with Brent crude edging higher, supported by tighter supplies, while U.S. benchmark WTI futures dropped on concern that a spike in coronavirus cases could curb oil demand in the United States. Brent crude rose 18 cents, or 0.4%, to $42.98 a barrel by 0252 GMT after a 4.3% gain last week, while U.S. West Texas Intermediate crude was at $40.42, down 23 cents, or 0.6%, from its previous settlement on Thursday. U.S. markets were closed on Friday to mark July 4 holiday celebrations. Amid rising numbers of coronavirus cases in 39 U.S....

Dollar in Tight Range Ahead of U.S. Services Sector Data
Monday, 6 July 2020 08:56 WIB | Euro Dolar AS Poundsterling

The dollar held steady against most currencies on Monday as investors awaited data expected to show the U.S. services sector stopped contracting, and highlighting the economic recovery from the coronavirus pandemic. The euro moved in a narrow range before economic data from Germany and the eurozone that are also forecast to show a sharp rebound in corporate activity and retail sales, which would ease concerns about the economic outlook. A steady rise of new coronavirus infections in the United States has discouraged some investors from taking on excessive risk, but most market participants...

Oil Stuck Near $43 With Market Weighing Supply Against Virus
Monday, 6 July 2020 08:34 WIB | Minyak WTI brent oil Oil, Crude Oil

Oil in London was anchored near $43 a barrel as investors weighed tightening crude supplies and robust U.S. economic data against surging coronavirus infections. Libyas oil exports are expected to slide this month as forces opposed to the government continue to block shipments, adding to coordinated OPEC+ cuts, while data last week showed the American labor market rebounded in June. However, a surge in U.S. virus cases has pushed global infections above 11.3 million, prompting concerns the recovery may be derailed. While Brent oil has doubled since April as...

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PRECIOUS METALS
Gold futures log highest finish since September 2011
Wednesday, 8 July 2020 01:13 WIB

Gold futures marked their highest finish in nearly nine years, after climbing to nearly $1,810 an ounce during Tuesday's session. Prices had seen a "routine downside correction following recent...

ENERGY
Oil Down as U.S. Virus Spike Stokes Demand Worries
Tuesday, 7 July 2020 18:27 WIB

Oil prices fell on Tuesday amid concerns that a surge in new coronavirus cases, especially in the United States, will hamper any recovery in fuel demand. Brent crude futures declined by 44 cents,...

CURRENCIES
Dollar Edges Higher As Virus Worries Sap Risk Appetite
Tuesday, 7 July 2020 23:29 WIB

The U.S. dollar inched higher against a basket of currencies on Tuesday, holding above the near two-week low hit in the previous session, as investors turned uneasy over new coronavirus flare-ups...