Gold Prices Reverse Gains, Near 2018 Lows-SapForex24

Gold prices reversed early gains on Thursday, falling back towards the lowest levels since December as a stronger dollar and rising U.S. government bond yields continued to weigh on demand for bullion.

Gold futures for June delivery on the Comex division of the New York Mercantile Exchange were down $3.50 or 0.27% to $1,288.00 a troy ounce, off an overnight high of $1,293.70.

The precious metal plumbed a low of $1,285.70 on Wednesday, the weakest level since December 27.

Gold has slumped as expectations of higher U.S. interest rates have pushed up bond yields and the dollar.

Higher Treasury yields can spell weakness for Gold which, like other commodities, offers no yield, while a stronger U.S. currency makes dollar denominated gold more expensive for overseas buyers.

The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was last at 93.21, within close reach of Wednesday’s five month peaks of 93.52. The index is up around 0.93% so far this week.

The yield on 10-year U.S. Treasury notes rose as high as 3.117% overnight, the highest level since 2011. Bond yields move inversely to prices.

Yields have climbing higher since the Federal Reserve said at its May meeting that inflation is moving closer to its 2% target.

The Fed raised rates in March and projected two more rate hikes this year, although many investors see three hikes as possible.

In other metals trading, July silver futures were almost unchanged at $16.37 a troy ounce, while July platinum futures were trading at $889.20, little changed for the day. July copper futures were up 0.24% at $3.078 a pound.

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Forex - Dollar Steady near 3-1/2 Month Highs-SapForxe24

The dollar was holding steady near three-and-a-half month highs against a basket of the other major currencies on Thursday, supported by higher Treasury yields as the U.S. 10-year bond yield held above the 3% level.

The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was trading at 91.02 , within close reach of Wednesday’s highs of 91.04, the most since January 12.

Demand for the dollar continued to be underpinned by rising U.S. yields and the prospect of a faster pace of rate hikes by the Federal Reserve this year.

Expectations of higher interest rates make the dollar more attractive to investors seeking yield. The yield on 10-year U.S. Treasury notes rose above 3% for the first time since 2014 this week, a sign of confidence in the outlook for the U.S. economy.

The dollar eased against the yen, with USD/JPY dipping 0.11% to 109.31 after setting a fresh two-and-a-half month high of 109.46 overnight.

The euro was little changed against the dollar, with EUR/USD last at 1.2167, not far from Wednesday’s two-month trough of 1.2158.

Investors were looking ahead to the European Central Bank’s monetary-policy meeting later Thursday to gauge whether officials are growing more confident on the inflation outlook.

The ECB was expected to keep monetary policy unchanged and indicate that it is still on track to wind up its bond purchasing stimulus program by the end of the year.

The pound was trading at five-week lows, with GBP/USD last at 1.3923, almost unchanged for the day.

The Australian dollar was holding above the previous sessions four month trough, with AUD/USD last at 0.7561.

The New Zealand dollar plumbed fresh four month lows, with NZD/USD sliding 0.14% to 0.7058.

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Forex- U.S. Dollar Rises as Bond Yields Jump-SapForex24

The dollar was higher on Friday as the yield on U.S. Treasury notes rose to February levels and interest rate expectations offset trade war worries.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.27% to 89.88.

EUR/USD falling 0.30% to 1.2308 as investors worry that the euro zone’s economy is rebounding and the European Central Bank could wait to tighten monetary policy.

Elsewhere, the Australian dollar was lower, with AUD/USD down 0.44% to 0.7694 while NZD/USD decreased 0.69% to 0.7221.

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Oil Prices Rise on Hints of OPEC Extending Production Cuts-SapForex24

Crude Oil WTI Futures gained 0.58% to $64.67 a barrel by 5:37 AM ET (9:37 GMT). Brent crude futures, the benchmark for oil prices outside the U.S., rose 22 cents, or 0.32%, to $69.13 a barrel.

In other energy trading, gasoline futures rose 0.40% at $2.0165 a gallon, while heating oil increased 0.30% to $1.9954 a gallon. Natural gas futures slipped 0.27% to $2.613 per million British thermal units.

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Crude Oil Prices Move Lower as Optimism Fades-SapForex24

The U.S. West Texas Intermediate crude April contract was down 20 cents or about 0.32% at $61.84 a barrel

Brent oil for May delivery on the ICE Futures Exchange in London declined 32 cents or about 0.49% to $65.17 a barrel.

Gasoline futures dropped 0.53% to $1.890 a gallon, while natural gas futures were up 0.11% to $2.735 per million British thermal units.

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Gold Prices Edge Higher With All Eyes on U.S. Tariffs-SapForex24

Gold prices edged higher on Thursday, as investors remained cautious ahead of an expected clarification by U.S. President Donald Trump on his proposed tariffs.

Comex gold futures were up 0.11% at $1,329.0 a troy ounce by 0205.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was steady at 89.60, just off Wednesday\'s two-week lows of 89.36.

Gold is sensitive to moves in the dollar. A weaker dollar makes gold less expensive for holders of foreign currency.

Elsewhere on the Comex, silver futures gained 0.34% to $16.56 a troy ounce.

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Oil Prices Continue Lower Ahead of EIA Weekly Supply Report-SapForex24

crude futures slumped 44 cents, or 0.7%, to $64.06 a barrel by 3:45AM ET (0845GMT), its lowest level in around a week. On Tuesday, the U.S. benchmark fell $1.06, or 1.6%, to $64.50 a barrel.

Meanwhile, Brent crude futures, the benchmark for oil prices outside the U.S., declined 42 cents, or roughly 0.6%, to $68.10 a barrel, after losing 68 cents, or 1%, a day earlier.

In other energy trading, gasoline futures dropped 0.2% to $1.851 a gallon, while heating oil shed 0.4% to $2.059 a gallon.

Natural gas futures sank 13.5 cents, or 4.3%, to $3.059 per million British thermal units, as updated weather forecasting models called for milder weather, which should dampen demand for the heating fuel.

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Gold Prices Continue Lower as Markets Await Fed, Trump-SapForex24

Comex gold futures were down around $6.00, or 0.5%, to $1,334.40 a troy ounce by 3:10AM ET (0810GMT). It fell to a one-week low of $1,332.80 in overnight trade.

Meanwhile, silver futures shed 6.2 cents, or 0.4%, to $17.06 a troy ounce, after tumbling 31.4 cents, or 1.8%, a day earlier.

Gold futures lost 0.9% on Monday as the dollar extended its rebound from a three-year nadir and benchmark Treasury yields cleared their highest level since April 2014.

The dollar continued higher, rising almost 0.3% against a basket of six major currencies to 89.44 in early trade, having pulled up from a low of around 88.25 set last week, its weakest level since December 2014.
In other metals action, palladium prices slumped 1% to $1,072.15 an ounce.

Sister metal platinum meanwhile dropped 1.6% at $996.40 an ounce. March copper shed 0.9% to $3.166 a pound.

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Dollar index holds steady as markets await Trump's speech and Fed-SapForex24

The dollar held above a recent three-year low against a basket of major currencies on Tuesday, with traders turning their attention to U.S. President Donald Trump's State of the Union speech and a Federal Reserve policy meeting for catalysts.

The dollar rose 0.1 percent against a basket of six major currencies to 89.430, having pulled up from a low of around 88.43 set last week, its weakest level since December 2014.

Analysts said a renewed rise in U.S. bond yields this week lent some support to the dollar. The U.S. 10-year Treasury yield reached a peak of 2.733 percent in Asian trading on Tuesday, the highest since April 2014, and last stood at 2.712 percent.

The euro eased 0.1 percent to $1.2373, edging away from a three-year high of $1.2538 touched last week.
Trump said on Monday he will address his proposed immigration overhaul in his State of the Union speech as well as his efforts to lower trade barriers around the world for American exports.

The president will also outline his much-anticipated infrastructure plan in the speech.

Against the yen, the dollar eased 0.2 percent to 108.78 yen, edging back in the direction of a 4-1/2 month low of 108.28 yen set on Friday.

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Oil Prices Start the Week Near Recent Highs Amid OPEC Optimism-SapForex24

U.S. West Texas Intermediate (WTI) crude futures inched up 19 cents, or 0.3%, from their last close to $66.33 a barrel .

The U.S. benchmark reached its best level since Dec. 4, 2014 at $66.66 last Thursday.

Meanwhile, Brent crude futures, the benchmark for oil prices outside the U.S., declined 11 cents, or roughly 0.2%, to $70.04 a barrel. The contract touched $70.78 on Thursday, a level not seen since Dec. 2014.

gasoline futures held steady at $1.925 a gallon, while heating oil shed 0.4% to $2.119 a gallon.

Natural gas futures sank 7.9 cents, or 2.5%, to $3.095 per million British thermal units, as updated weather forecasting models called for milder weather next week.

The commodity soared about 10% last week, as traders reacted to a blast of cold weather which upped demand for the heating fuel.

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