Gold Price Outlook

Gold prices were flat on Wednesday as investors stayed cautious after a muchawaited speech by U.S. President Donald Trump that gave no details on the signing of a trade deal with China while a firmer dollar dented demand for the safehaven asset Gold.Spot gold was flat at $1457.91 per ounce while U.S. gold futures        were up 0.3% at $1458 per ounce.The U.S. dollar clung to most of its recent gains on Wednesday after U.S. President Donald Trump said [read more]

This 3 Things You Need To Know Wednesday

1. Feds Powell testifiesAfter a speech from President Donald Trump on Tuesday eyes are shifting to Federal Reserve Chairman Jerome Powell who will speak to the Congressional Joint Economic Committee on Wednesday about the current economic outlook.2. Inflation gaugeA key indicator of inflation trends the Consumer Price Index (CPI) will be released by the Labor Department on Wednesday. Economist polled by Dow Jones are estimating U.S. consumer prices rose 0.3% in October and at 1.7% annual rate. This reading is still below the Feds 2% inflation target. If inflation comes in any hotter [read more]

Formal Fed Chair Alan Greenspan Just Said In A Conference in China That There Is 'No Point' For A Central Bank Digital Currency

Former U.S. Federal Reserve Chairman Alan Greenspan said Tuesday that there is no need for central banks to issue digital currency.Theres no point for them to do it Greenspan said at Chinese finance magazine Caijings annual economic outlook conference.He pointed out that national currencies are backed up by sovereign credit something no other organization can offer.The fundamental sovereign credit of the United States is far in excess of anything Facebook can imagine Greenspan said.The social network company made waves earlier this year by announcing plans for a cryptocurrency project [read more]

Alibaba Single Day Broke Record With More Than $38 Billion In Sales

Chinese ecommerce giant Alibaba set a sales record on Singles Day the worlds largest 24hour shopping event.Gross merchandise value a figure that shows sales across Alibabas shopping platforms surpassed last years 213.5 billion yuan record (nearly $30.5 billion) on Monday afternoon local time and kept rising through the rest of the day.At the end of the event GMV stood at 268.4 billion yuan just under a 26% rise from the figure posted last year. Thats a slower growth rate than the 27% [read more]

Gold Futures Dragged Spot Gold Price Lower

Gold futures on Monday finished solidly lower to start the week as appetite for the perceived safety of assets like precious commodities continued to unravel as stocks rose.December gold  on Comex shed $5.80 or 0.4% to settle at $1457.10 an ounce marking its lowest settlement since early August according to Dow Jones Market Data. The skid for the metal comes after it marked its biggest weekly slide off 3.2% since the week ended May 5 2017 Dragging the spot price to low of $1448.10.Commodity experts [read more]

This Are The News And Events That Will Affect Gold Price This Week

Gold plunged last week extending its losses to a threemonth low as well as posting its biggest weekly decline in three years. Traders said that positive developments in the U.S.China trade tarnished the precious metals safehaven appeal sending it to its biggest weekly loss since November 2016. Last weeks low of $1456.21 was also its lowest level since August 5.Essentially investors who had been building bullish positions since August on the fear that the U.S.China trade war would lead to a U.S. recession liquidated in a [read more]


Chinese ecommerce giant Alibaba Group Holding Inc said on Monday that sales for its annual Singles Day shopping blitz hit 84 billion yuan ($12 billion) within the first hour up 22% from last years early haul of 69 billion yuan.Akin to Black Friday and Cyber Monday in the United States Singles Day has been promoted as a shopping fest by Alibaba Chairman and Chief Executive Daniel Zhang since 2009 growing rapidly to become the worlds biggest online sales event.Also known as Double Eleven the festivals name originates from the [read more]

The Week Ahead

Federal Reserve Chairman Jerome Powell and President Donald Trump will take center stage this week.President Trump will be speaking at the Economic Club of New York during a luncheon Tuesday. Market participants will be listening for details and clarity regarding a potential trade deal between the U.S. and China. In the past week there have been conflicting messages on whether or not additional tariffs will be imposed on Chinese goods.The Fed Chair Powell will head to Capitol Hill to testify before Congress. Tuesday at 11 a.m. ET Powell will go before the [read more]

Much Bigger BTCUSD Price Move Could Come This Week

BTCUSD down 1.6% on the day circling $9210 after a sudden dip saw markets bounce off $9185.The weeks behavior continues a broader trend which Cointelegraph reported on previously Bitcoin remains rangebound between $9000 and $9500.Now commentators are considering the potential for a change in the pattern as volatility lessens. For Jim Wyckoff of gold outfit Kitco that watershed could appear before the end of the week.Recent price action has choppy quiet and sideways. This collapse in volatility suggests a much bigger price move is right over the [read more]

Gold Dropping 2% On World Stocks Rally And US Dollar Index Rise

Gold prices were tepid on Friday after dropping up to 2% in the previous session as hopes of headway in the U.S.China trade deal boosted riskon sentiment denting the bullions appeal.World stocks rallied and the dollar index gained after officials on Thursday said that China and the United States have agreed to roll back tariffs on each others goods as part of the first phase of a trade deal.Spot gold was trading at 1469.50 poised for its biggest weekly drop since May 2017. In the previous session prices [read more]