GC=F - Gold Aug 20
| Pre. Settlement | N/A |
| Settlement date | 2020-08-27 |
| Open | 1,787.90 |
| Bid | 1,785.90 |
| Last price | 1,790.00 |
| Day's range | 1,783.40 - 1,788.90 |
| Volume | 41,128 |
| Ask | 1,789.00 |
- FX Empire
Crude Oil Weekly Price Forecast – Crude Oil Markets Continue Sideways Grind
Crude oil markets rallied during the week as we headed towards the Independence Day holiday.
- FX Empire
S&P 500 Price Forecast – Stock Markets Fail at Exhaustion Point
The S&P; 500 has rallied a bit on Friday before pulling back, but keep in mind it was only the Globex market as the United States was celebrating a holiday.
- FX Empire
Crude Oil Price Forecast – Crude Oil Markets Pressing Resistance
Crude oil markets have done little on Friday, as we are pressing previous resistance. It was a holiday in the United States and liquidity was very low.
- FX Empire
Silver Weekly Price Forecast – Silver Markets Exhaust at Same Level
The silver markets rallied during most of the week but found resistance just below the $19 level yet again. This market can take off.
- FX Empire
Gold Weekly Price Forecast – Gold Markets Form Neutral Candle
Gold markets formed a neutral candlestick for the week, after briefly breaking through the $1800 barrier.
- FX Empire
Silver Price Forecast – Silver Markets Have Quiet Resilience
Silver markets did not do much on Friday as the Americans were away observing Independence Day weekend.
- FX Empire
Gold Price Forecast – Gold Markets Show Quiet Resiliency
Gold markets did little on Friday as the Americans were observing the beginning of the Independence Day weekend, so there was a significant lack of liquidity.
- FX Empire
Oil Stays Glued To The Key $40 Level
Oil swings between gains and losses near the key resistance level.
- FX Empire
EUR/USD Mid-Session Technical Analysis for July 3, 2020
If the U.S. and Euro Zone economic data continues to impress then look for a strong rally to develop on a breakout over 1.1295.
- CoinDesk
Money Reimagined: Bitcoin and Ethereum Are a DeFi Double Act
With bitcoin increasingly riding on Ethereum's rails, we're about to see greater complementarity between the top two blockchains.
- Zacks
Newmont's (NEM) Stock up 41% in 6 Months: What's Driving It?
Focus on key growth projects, disciplined capital allocation strategy and higher gold prices are driving Newmont's (NEM) shares.
- FX Empire
EUR/USD Weekly Price Forecast – Euro Gives Up Early Gains
The Euro went back and forth during the week, forming another wick that extended higher. However, the most recent wick was lower than the ones preceding it.
- FX Empire
AUD/USD Weekly Price Forecast – Australian Dollar Has Solid Week
The Australian dollar rallied again during the week, reaching towards the top of the same consolidation area that we have been in for over a month.
- FX Empire
Silver Price Daily Forecast – Silver Continues To Trade Near $18.00
Silver stays in the range between the support at $17.50 and the resistance near $18.50 and has good chances for additional upside.
- Motley Fool
3 Gold Stocks to Buy in July
While soaking up the golden rays of the summer sun, how about adding some gold-focused stocks to your portfolio?
- FX Empire
GBP/JPY Price Forecast – British Pound Quiet Against Japanese Yen
The British pound of course was quiet during the Friday session against the Japanese yen as the United States was a way for holiday.
- FX Empire
EUR/USD Price Forecast – Euro Drifts Slightly Lower
The Euro drifted a bit lower on Friday, but with the Americans being away for the observed Independence Day, there would have been a serious lack of volume.
- FX Empire
U.S. Market Upside Threatened By The Rising Number Of Coronavirus Cases
S&P; 500 is trying to get above the resistance at 3150 as optimism about economic recovery is tested by the worsening situation on the coronavirus front.
- CoinDesk
Bitcoin’s Price Correlation With S&P 500 Hits Record Highs
Bitcoin's correlation with the S&P; 500 is somewhat erratic, but the relationship has just got stronger. That may not be bad news.
- Zacks
First Majestic Completes Springpole Silver Stream Buyout
First Majestic Silver (AG) acquires a stream on 50% of payable silver produced from the Springpole Gold Project in Canada - marking its first investment outside Mexico.
- CoinDesk
E-Gold Claims US Officials Buried Key Report in 2008 Landmark Crypto Ruling
A court filing alleges federal government suppression of an OFR review led to crypto businesses being defined as money transmitters.
- FX Empire
Price of Gold Fundamental Daily Forecast – Short-Term Focus Will Be on Weekly Jobless Claims
The Non-Farm Payrolls report represents stale data. The main focus for gold traders in the near future will be the weekly initial claims reports.
- Motley Fool
3 of the Smartest Stocks to Invest in With $100
Since the stock market found its bottom on March 23, the S&P 500 (at one point) regained more than 80% of its losses, with the technology-driven Nasdaq Composite hitting fresh all-time highs. Best of all, you don't need a mountain of cash to build wealth in the stock market.
- FX Empire
Oil Price Fundamental Daily Forecast – Rising U.S. Initial Claims Could Weaken Future Demand
Gains were capped and there was an air of caution ahead of the long holiday weekend as a resurgence in U.S. coronavirus infections fanned concerns.
- Bloomberg
Chaos in Gold Markets Ripples to Other Precious Metals
(Bloomberg) -- The chaos that engulfed the gold market in March as the global pandemic choked off physical trading routes is rippling through other precious metals, resulting in price dislocations and a surge in exchange inventories for silver and platinum.The gold market was thrown into turmoil in March as lockdowns grounded planes and closed refineries, leading traders to worry they wouldn’t be able to get gold to New York in time to deliver against futures contracts. That caused futures, which typically trade close to the London spot price, to soar to a premium, inflicting losses on banks that struggled to close arbitrage bets and spurring them to shift some positions out of New York futures.There are signs that the dynamic isn’t limited to gold. Silver and platinum futures have traded at elevated levels relative to spot metals since early April. And as in the case of gold, the premiums are spurring big increases in on-exchange inventories in New York.On Monday, first-notice data for the July silver contract on the Comex in New York showed the largest single day of deliveries in almost 25 years. Deliveries for platinum on the New York Mercantile Exchange were more than five times the next largest month this year.Those deliveries serve as a way for banks to reduce their exposure to price dislocations and limit risk, said David Holmes, a senior vice president at Heraeus Metals New York, a precious metals refiner.The blowout in gold spreads earlier this year led to big losses for some banks, which typically sell futures in New York as a hedge for their positions in the London over-the-counter market. HSBC Holdings Plc. lost $200 million in a single day of trading, illustrating the challenges to banks due to the turmoil in the exchange-for-physical price, or EFP.Wider SpreadsSilver and platinum have been seeing similar price differentials. The spread between silver futures and spot prices ended the second quarter at the highest in nearly four decades. Platinum’s EFP spiked to the highest since early 2008. And palladium had the largest spread on record, dating back to late 1993.The turmoil caused stockpiles to jump amid efforts to meet the apparent shortages. On-exchange inventories for silver and platinum surged to a record and remain close to those levels.Meanwhile, futures positions have been shrinking in the wake of the pandemic-induced dislocations, creating a glut of metal akin to gold’s stockpiles. Platinum open interest, a tally of outstanding futures contracts, is near the lowest in eight years and is down more than 56% from a peak in January. Open interest in silver futures is down nearly a third from a February high. Gold positions reached the lowest in a year before recovering, while palladium is at a more than 16-year low.“If a bank is short, it’s hard to close the arbitrage,” Holmes said. “Therefore, instead of increasing their position as the arbitrage grew wider, they’ve had to either hold constant their position or even reduce it.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
