GC=F - Gold Futures,Aug-2018

COMEX - COMEX Delayed price. Currency in USD
1,241.80
-4.80 (-0.39%)
As of 4:59PM EDT. Market open.
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Pre. SettlementN/A
Settlement date2018-08-29
Open1,247.70
Bid1,240.90
Last price1,246.60
Day's range1,236.20 - 1,248.50
Volume248,662
Ask1,242.00
  • Natural Gas Price Fundamental Weekly Forecast – Lower Temperatures, Rising Production Too Much for Bulls to Handle
    FX Empire11 hours ago

    Natural Gas Price Fundamental Weekly Forecast – Lower Temperatures, Rising Production Too Much for Bulls to Handle

    Other than a periodic short-covering rally due to profit-taking and position-squaring, we’re likely to see a test of the May bottom at $2.711 or lower. This week, investors are going to continue to focus on rising production and the weather.

  • Oil Price Fundamental Weekly Forecast – IEA Warning, Labor Issues in Norway, Iraq Could Be Supportive
    FX Empire12 hours ago

    Oil Price Fundamental Weekly Forecast – IEA Warning, Labor Issues in Norway, Iraq Could Be Supportive

    The markets appear to have found support late last week after Wednesday’s steep sell-off. The warning by the IEA seems to have slowed down the selling and perhaps brought in a few new buyers. The IEA statement is likely to continue to underpin the markets while the news of labor disputes in Norway and Iraq is likely to attract new buyers. Any surprise announcements about increased supply could limit gains or even drive prices through last week’s lows. For example, an end to the strikes in Norway and Iraq could be the catalysts for such a move.

  • AUD/USD Forex Technical Analysis – Short-Term Bullish Over .7470, Bearish Under .7437
    FX Empireyesterday

    AUD/USD Forex Technical Analysis – Short-Term Bullish Over .7470, Bearish Under .7437

    Based on last week’s price action and the close at .7425, the direction of the AUD/USD this week is likely to be determined by trader reaction to a downtrending Gann angle at .7437. Keep in mind that we are looking a weekly, short-term, counter-trend moves here. The longer-term trend is down and likely remain down due to the divergence in monetary policy between the Fed and the RBA. If you don’t want to play a counter-trend rally then use the upside targets to initiate new short positions if tested.  

  • EUR/USD Forex Technical Analysis – Bullish Over 1.1680, Bearish Under 1.1675
    FX Empireyesterday

    EUR/USD Forex Technical Analysis – Bullish Over 1.1680, Bearish Under 1.1675

    Based on last week’s close at 1.1687, the direction of the EUR/USD this week is likely to be determined by investor reaction to the pivot at 1.1680. The most important area to watch this week is the 50%/Gann angle combination at 1.1680 to 1.1675. Basically, look for an upside bias to develop on a sustained move over 1.1680 and for a downside bias to develop on a sustained move under 1.1675.

  • Gold Price Forecast – Gold drifts lower against stronger US dollar
    FX Empire2 days ago

    Gold Price Forecast – Gold drifts lower against stronger US dollar

    Gold markets continue to be very noisy overall, and I think that at this point we will more than likely see volatility. I believe that the $1225 level will offer support, just as the $1250 level will massive resistance. I believe that the market will continue to be very difficult over the short term, of course driven by news headlines.

  • USD/JPY Price Forecast – US dollar churning for Friday session
    FX Empire2 days ago

    USD/JPY Price Forecast – US dollar churning for Friday session

    The US dollar has turned sideways overall during the day on Friday, as we hover above the vitally important ¥112.50 level. This was a target for me previously, and I expect to see a lot of digestion of the gains in this area.

  • E-mini S&P 500 Index (ES) Futures Technical Analysis – July 13, 2018 Forecast
    FX Empire2 days ago

    E-mini S&P 500 Index (ES) Futures Technical Analysis – July 13, 2018 Forecast

    Based on the early price action, the direction of the September E-mini S&P 500 Index is likely to be determined by trader reaction to yesterday’s close at 2798.50. Keep an eye on 2798.50 all day and especially at the close. Settling below this level will form a closing price reversal top.

  • Why Second Half of 2018 Could Be Much Brighter for Gold
    Market Realist2 days ago

    Why Second Half of 2018 Could Be Much Brighter for Gold

    In the preceding parts of this series, we discussed how gold prices have remained weaker despite escalating trade war fears and geopolitical tensions. Many of these risks stem from the ongoing trade spats, which would create inflationary (TIP) pressures in the economy apart from uncertainty. Gold (GLD) is often seen as an inflation hedge.

  • Natural Gas Price Fundamental Daily Forecast – Weakens Under $2.751, Strengthens Over $2.799
    FX Empire2 days ago

    Natural Gas Price Fundamental Daily Forecast – Weakens Under $2.751, Strengthens Over $2.799

    Prices fell on Thursday despite the Energy Information Administration’s (EIA) weekly natural gas storage report showing a miss to the low side of most estimates. Improving weather conditions and relatively high production levels remain the primary drivers of the price action.

  • Does Speculative Positioning Imply that Gold’s Bottom Is Near?
    Market Realist2 days ago

    Does Speculative Positioning Imply that Gold’s Bottom Is Near?

    The CFTC (Commodity Futures Trading Commission) reports the position of major players in the futures market through its COT (Commitment of Traders) report. According to the COT report for the week ended June 26, 2018, money managers were barely net long on gold with just over 4,000 net speculative long contracts. According to Commerzbank, “Short positions, in particular, were built up, which means speculative financial investors are currently betting heavily on falling prices.” For the week ended June 3, money managers kept their positions almost unchanged, which implies the lowest levels of net long positioning since late 2015 when gold prices dipped below $1,050 per ounce.

  • Gold Price Prediction – Gold Rebounds Following Strong U.S. CPI
    FX Empire3 days ago

    Gold Price Prediction – Gold Rebounds Following Strong U.S. CPI

    Gold prices moved higher on Thursday rebounding from session lows, as stronger than expected U.S. CPI data buoyed prices of the yellow metal. Strong jobless claims, failed to buoy the greenback, which paved the way for higher gold prices. Resistance is seen near the 10-day moving average at 1,251.  Support is seen near the July lows at 1,238.  Momentum is neutral as the MACD (moving average convergence divergence) histogram prints in the black with a flat trajectory which points to consolidation.

  • E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – July 12, 2018 Forecast
    FX Empire3 days ago

    E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – July 12, 2018 Forecast

    Based on the early price action, the direction of the September E-mini NASDAQ-100 Index is likely to be determined by trader reaction to the pivot at 7270.00.

  • E-mini S&P 500 Index (ES) Futures Technical Analysis – July 12, 2018 Forecast
    FX Empire3 days ago

    E-mini S&P 500 Index (ES) Futures Technical Analysis – July 12, 2018 Forecast

    Based on the early trade, the direction of the September E-mini S&P 500 Index is likely to be determined by trader reaction to the short-term pivot at 2781.75.

  • EUR/USD Mid-Session Technical Analysis for July 12, 2018
    FX Empire3 days ago

    EUR/USD Mid-Session Technical Analysis for July 12, 2018

    Based on the early trade, the key level to watch is 1.1659. This support cluster is being formed by a combination of an uptrending Gann angle and the short-term 50% level. Watch the price action and read the order flow at 1.1659 all session. Trader reaction to this price cluster is controlling the direction of the market today. Look for volatility at 1230 GMT with the release of the U.S. consumer inflation report.

  • Does US Jobs Report Bode Well for Gold Prices?
    Market Realist3 days ago

    Does US Jobs Report Bode Well for Gold Prices?

    The US non-farm payroll figure for June improved at a marginally slower rate than in May. In June, 213,000 jobs were added compared to 244,000 in May. The data for June, however, beat the market expectation of 195,000 job additions. The broader market S&P 500 Index (SPY), the Dow Jones Industrial Average Index (DIA), and the NASDAQ Composite Index (QQQ) rose 0.85%, 0.41%, and 1.34%, respectively, on Friday, July 6, after the announcement of the non-farm payroll report. The US unemployment rate threw a surprise for June as it grew to 4.0% from 3.8% a month earlier.

  • Price of Gold Fundamental Daily Forecast – Robust CPI Report Could Shift Focus Away from Trade Concerns
    FX Empire3 days ago

    Price of Gold Fundamental Daily Forecast – Robust CPI Report Could Shift Focus Away from Trade Concerns

    We could see a repeat of Wednesday’s trade if today’s U.S. consumer inflation report comes in strong enough to support the Fed’s plans to raise interest rates in September and December.  A steady to stronger-than-expected report should drive Treasury yields higher, which should make the U.S. Dollar a more attractive investment. This should be enough to pressure demand for dollar-denominated gold futures.

  • Oil Prices Drop Back into the June Price Range while USD Strengthens, Global Stocks Recover
    FX Empire3 days ago

    Oil Prices Drop Back into the June Price Range while USD Strengthens, Global Stocks Recover

    The WTI Oil price fell from $72.98 to $68.68 yesterday despite the inventories data showing a draw of -12.6M barrels which is the biggest since September 2016. Global stocks recover as investors continue to watch trade war developments.

  • Commodities Daily Forecast – July 12, 2018
    FX Empire3 days ago

    Commodities Daily Forecast – July 12, 2018

    The gold market drifted slightly lower during the Wednesday’s session reaching down to the $1250 level. If it breaks from here, then $1240 level will be the next important support level in the short term and on the top $1255 level and $1260 level will be the resistance point.

  • Crude Oil Price Forecast – crude oil market falls on sanction fears
    FX Empire4 days ago

    Crude Oil Price Forecast – crude oil market falls on sanction fears

    Crude oil market struggled a bit during the trading session on Wednesday, as it appears that some countries are starting to step away from Iranian crude, which while ironically should raise demand issues, it also has people concerned about the overall health of the market. Beyond that, if the US dollar starts to strengthen, and it’s threatening to do so, that could cause issues as well.

  • Natural Gas Price Forecast – natural gas rallies on Wednesday
    FX Empire4 days ago

    Natural Gas Price Forecast – natural gas rallies on Wednesday

    Natural gas markets rallied a bit during the day on Wednesday, recapturing the $2.80 level. This of course is a bullish move, and I think at this point it makes sense that we will probably continue to go a little bit higher as we have cleared the large round number. However, my longer-term analysis has not changed.

  • AUD/USD Forex Technical Analysis – Reaction to Retracement Zone at .7397 to .7376 Will Determine Next Major Move
    FX Empire4 days ago

    AUD/USD Forex Technical Analysis – Reaction to Retracement Zone at .7397 to .7376 Will Determine Next Major Move

    Based on the early price action on Thursday, the direction of the AUD/USD the rest of the session is likely to be determined by trader reaction to the short-term Fibonacci level at .7377. Essentially, the key to the next move in the AUD/USD is trader reaction to the short-term retracement zone at .7397 to .7376. Look for an upside bias to develop on a sustained move over .7397 and for the downside bias to continue on a sustained move under .7376.   

  • U.S. Producer Prices Post Biggest Annual Increase in 6-1/2 Years
    FX Empire4 days ago

    U.S. Producer Prices Post Biggest Annual Increase in 6-1/2 Years

    According to the U.S. Labor Department, the producer price index for final demand climbed 0.3 percent last month. In the 12 months through June, the PPI advanced 3.4 percent, the largest gain since November 2011. Traders were looking for an increase of 0.2 percent and an annual gain of 3.2 percent.

  • Gold Price Prediction – Gold Tumbles as White House Introduces New Chinese Tariffs
    FX Empire4 days ago

    Gold Price Prediction – Gold Tumbles as White House Introduces New Chinese Tariffs

    Gold prices tumbled as the White House announced a list of tariffs on China that totals $200 billion. The list of 10% tariffs on $200 billion in Chinese goods, as the president’s recent threats to escalate a broadening trade war with Beijing came to fruition. A break of the July lows at 1,238 would lead to a test of the December lows at 1,236.

  • Why Investors Should Take a Look at Gold in H2 2018
    Market Realist4 days ago

    Why Investors Should Take a Look at Gold in H2 2018

    Gold prices have gone through a rough patch recently with prices closing near their seven-month lows. Gold is hitting lows despite many factors that are favoring its safe-haven status. Despite the escalation of trade war fears and political tensions in the European Union, gold prices have been trending lower. While these factors have helped gold, the US dollar is also attracting bids because of these factors, which has capped gold’s gains.

  • E-mini Dow Jones Industrial Average (YM) Futures Analysis – July 11, 2018 Forecast
    FX Empire4 days ago

    E-mini Dow Jones Industrial Average (YM) Futures Analysis – July 11, 2018 Forecast

    Based on the early price action, the direction of the September E-mini Dow Jones Industrial Average today is likely to be determined by trader reaction to the downtrending Gann angle at 24746 and the 50% level at 24698.