Real time market

Gold Bulls Expect Rally To Continue In 2018 – The Wall Street Journal

Gold Bulls Expect Rally To Continue In 2018 – The Wall Street Journal

Release Date:  Friday, January 5, 2018

“Gold prices whipsawed and generated an outside day which is usually a reversal pattern, but it reversed Wednesday’s correction. This came following a stronger than expected ADP payroll report. Prices closed near their highs after hitting a higher high and a lower low, testing support which was the former breakout level of 1,306. Resistance is seen near the September highs at 1,352.” (“Gold Price Prediction for January 5, 2018.” FX Empire 01.04.18)

Gold Bulls Expect Rally To Continue In 2018 – The Wall Street Journal
According to some investors, 2018 is going to be another standout year for gold, a fresh sign of the anxiety that has accompanied the global stock-market rally.

“The precious metal had its best year since 2010 last year, boosted by a weakening dollar and political tensions around the world. Now, despite cryptocurrencies such as bitcoin becoming more mainstream and the Federal Reserve projecting three interest-rate increases this year, some analysts expect the haven asset to continue building on last year’s 14% gain.

“When interest rates rise, gold often struggles to compete against yield-bearing assets like Treasurys. However, some investors doubt that the Fed will stick to its forecasts and remain wary of market risks ranging from North Korea to Iran.

“They project that gold will keep climbing after it gained in 11 of the past 12 sessions of 2017.

“’Gold has a chance to be one of the stars of 2018 within the commodity complex,’ said Mark Lacey, head of global commodities and resource equities at asset-management firm Schroders.

“’We continue to think as a small weight for individual investors that gold can be a good thing to diversify,” said Craig Birk, executive vice president of portfolio management at Personal Capital.’”(“Gold Bulls Expect Rally to Continue in 2018.” The Wall Street Journal 01.02.18)

Gold Prices At 3-Mo. High On Slumping Greenback, Geopolitics - Kitco
Gold prices are up, hitting a more-than-three-month high on Tuesday.

“A slumping U.S dollar index that hit a better-than-three-month low today is bullish for the precious metals markets. Gold and silver markets are also seeing safe-haven demand on heightened geopolitical risks. February Comex gold was last up $4.50 an ounce at $1,313.90. March comex silver was last down $0.02 at $17.12 an ounce.

“A feature in the marketplace early this week are rising tensions in Iran as demonstrators in that country are demanding an overthrow of the ruling government. There has been a violent crackdown on the demonstrators by the Iranian government. U.S. President Donald Trump has tweeted that he supports the demonstrators, which is a dramatic shift from the Obama administration that was much more low key on such matters.

“North Korea has made an overture to South Korea for negotiations, but is also maintaining it plans to ramp up its production of nuclear weapons, including leader Kim Jong Un reportedly saying he as a nuclear button on his desk.

“The other key outside markets on Tuesday morning finds Nymex crude oil prices near steady on the day after hitting a 2.5-year high above $60.00 a barrel overnight. A supply disruption in the North Sea and the Iran demonstrations are supporting the oil market. The recent rally in oil prices is bullish for the precious metals and the entire raw commodity sector.” (“Gold Prices At 3-Mo. High On Slumping Greenback, Geopolitics.” Kitco 01.02.18)