INTL FCStone: Gold To Remain Volatile Ahead Of Greece Talks
Greece and its European creditors kicked off a second round of refunding negotiations, and, although analysts are expecting to see a last-minute deal made, it won’t happen just yet. Edward Meir, commodity consultant at INTL FCStone, says gold prices could end up trending lower as a result of potential agreement talk, but also warns that investors should expect to see volatility in the near-term. “This crisis is very much a fluid situation and so we would not necessarily advocate aggressively going short at this stage either,” he says.
CFTC: Gold Market Sees Biggest Decline In Spec Longs Since November
The gold market saw the biggest weekly decline in gross speculative long positions for the week ending Feb. 10, according to the latest data from the U.S. Commodity Futures Trading Commission.
Read moreGreek Negotiations Continue To Support Gold Prices – Capital Economics
(Kitco News) – With U.S. markets closed on Monday, attention will be focused on Europe as Greece continues to work towards an agreement with its European creditors, and the uncertainty could be good for the gold market, said one British-based research…
Read moreGold To Be Volatile As It Reacts To Small Market Details – Analysts
With no fundamental change in the U.S. or global economy, some analysts said the gold market will be paying more attention to the small details in what will be a shortened trading week.
Read moreThe U.S. Dollar Is Not A Safe Haven – Jim Rogers
Although the U.S. dollar has seen substantial inflows amid global uncertainty, one famed investor said the U.S. currency should not be where people seek refuge.
Read moreCanadian Dollar Gold Price Great For Canadian Gold Assets – CIBC
(Kitco News) – It would appear that gold producers with assets in Canada don’t mind the drop of the Canadian dollar as the gold price in the northern currency is at C$1,550 an ounce, compared to a lower U.S. gold price per ounce of roughly $1,230.
Is Gold Ready For A Friday Bounce? – Triland Metals
The recent pullback in precious metals prices should be seen as a buying opportunity, and there may even be chance for a late-Friday bounce, says Triland Metals.
Read moreGold Up on Short-Covering, but Risk-On Attitudes, Bearish Charts Limit Upside
Gold is once again modestly higher in early U.S. trading Friday, on some short-covering in the futures and bargain hunting in the cash.
Read moreGold Slightly Up Amid Bullish Outside Markets, Weaker U.S. Data
Gold ended the U.S. day session slightly higher in quieter trading Thursday. The market got a boost on the key outside markets being in a bullish posture on this day—solidly higher crude oil prices and a lower U.S. dollar index. Short covering in the futures market from Wednesday’s selling pressure was also featured. However, better trader and investor risk appetite that boosted the stock markets squelched buyer interest in safe-haven gold. April Comex gold was last up $2.00 at $1,221.60 an ounce. March Comex silver last traded up $0.049 at $16.81 an ounce.
