NEW YORK/LONDON (Reuters) – Gold rose on Monday, snapping two straight losing sessions, boosted by a fall in the dollar and renewed physical demand related to Diwali, India’s major bullion-buying event this week.
Earlier, gold rose to $1,248.44 an ounce, near a one-month high, as physical bullion demand picked up ahead of Diwali on Wednesday and the start of the Indian wedding season, when demand is traditionally the strongest.
NEW YORK/LONDON, Oct 20 (Reuters) – Gold rose on Monday, set
to snap two straight losing sessions, boosted by renewed
physical demand related to Diwali, India’s major bullion-buying
event this week.
Earlier, gold rose to a high of $1,248.44 an ounce, near a
one-month high as physical bullion demand picked up ahead of
Diwali on Wednesday and the start of the Indian wedding season,
when demand is traditionally the strongest.
NEW YORK/LONDON, Oct 17 (Reuters) – Gold dropped on Friday
as U.S. equities rebounded but was still set for a second
straight weekly gain as concerns over the global economy have
raised speculation that the U.S. Federal Reserve could keep
interest rates low for longer.
Palladium rallied 3 percent, partly recovering from
Thursday’s losses, as broad-based gains in global markets lifted
the metal mostly used in auto catalytic converters.
NEW YORK (Reuters) – If U.S. oil prices fall below critical support at $80, they may quickly slide to $75 a barrel or lower, extending the deepest rout in three years, technical analysts said.
U.S. crude prices, down 25 percent since June on worries over sluggish demand and a lack of OPEC supply, spiked abruptly at midday on Thursday, rebounding after holding above $80 per barrel, as some traders bet the slump was overdone.
NEW YORK/LONDON, Oct 16 (Reuters) – Gold prices were steady
on Thursday, supported by renewed worries about a global
economic slowdown, but bullion’s failure to rally at a time of
extreme volatility in equity and energy markets suggested the
metal could pull back in the near term.
Economic growth fears hit demand expectations for industrial
metals and palladium, which is used mostly by the automobile
industry as a catalytic converter. Palladium dropped 5 percent
briefly before paring losses.
NEW YORK, Oct 16 (Reuters) – The London Bullion Market
Association (LBMA) said on Thursday it appointed Morgan Stanley
as a market maker, underscoring the ambitions of some banks to
expand into precious metals trading while others exit due to
LBMA said it named Morgan Stanley & Co International Plc, a
unit of U.S. investment bank Morgan Stanley, as a spot
and options market-making member effective Thursday.
NEW YORK/LONDON, Oct 15 (Reuters) – Gold rose on Wednesday
as global equities plunged and U.S. Treasuries prices surged
following disappointing U.S. economic data, lifting bullion’s
The precious metal’s failure to extend its rally despite
heightened global market volatility, however, suggested gold
prices could pull back in the near term, analysts said.
NEW YORK/LONDON, Oct 14 (Reuters) – Gold fell on Tuesday as
sharply lower crude oil prices and a dollar rebound prompted the
bullion market to take a breather following its recent rally.
The dollar recovered against a basket of major currencies
after worrying economic data out of the euro zone and United
Kingdom underscored the relative health of the U.S. economy.
Brent crude also fell 3 percent on lower demand expectations.
NEW YORK/LONDON, Oct 13 (Reuters) – Gold rose on Monday as
the dollar fell on uncertainty about global economic growth,
while the prospect of more economic stimulus from China also
increased bullion’s investment appeal.
Gold was on track for its fifth rise in the past six
sessions after the dollar index fell on growth concerns
and worries that the Federal Reserve may wait longer to hike
U.S. interest rates. Last week, the greenback notched its
biggest weekly loss in six months.
NEW YORK (Reuters) – World oil prices are on the brink of sliding another $10 or more, according to chart analysts who say the over 20 percent drop since June has wiped out key support levels and left behind a “technical graveyard”.
On Friday, Brent crude dropped to its lowest level in nearly four years before ending near flat at $90.21 a barrel. A combination of unrelenting supply from the U.S. shale oil boom and disappointing demand from Europe and China has walloped markets, with Saudi Arabia reluctant to curtain output. [O/R]