7Jan

COMEX MARKET IN MALAYSIA | GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

GOLD TRADING FORECAST TODAY

INTERNATIONAL COMEX NEWS

  • A rotten Apple was good for gold, with the precious metal reaching within $5 of $1,300 Thursday after weak stock markets pushed investors away from risk and toward safe havens. U.S. stocks fell about 2% as investors, already spooked by a rare profit warning from Apple (NASDAQ:AAPL), were further rattled by the biggest drop in a decade for a key gauge on factory activity.
  • Oil prices fell on Friday after the United States followed most other major economies into a manufacturing downturn, although supply cuts by producer club OPEC kept declines in check. International Brent crude futures (LCOc1) were down 39 cents, or 0.7 percent, at 0155 GMT at $55.56 a barrel. U.S. West Texas Intermediate (WTI) crude oil futures (CLc1) were at $46.93 per barrel, down 16 cents, or 0.3 percent.
  • U.S. oil and gas executives’ outlook turned negative for the first time since the low point of the last oil bust, according to results of a survey released on Thursday by the Federal Reserve Bank of Dallas. A survey of executive sentiment fell to -10 from 47 in the prior quarter, the first negative reading since early 2016, when U.S. crude prices (CLc1) plummeted to $26 per barrel.

GOLD TRADING FORECAST TODAY

ECONOMY NEWS

  • Fed Chair Jerome Powell’s hope for a more plainspoken approach to his job may have landed him in hot water with markets and require more “nuance” going forward, a former top Fed official said on Thursday in a critique of the current U.S. central bank. As the Fed begins a broad review of its operations, former Fed Vice Chair Donald Kohn said in what he called a “memo” that Powell and an array of other Fed officers needed to overhaul how they communicate so both investors and the public have a better sense of the central bank’s job and policies.
  • Investors pulled $98 billion from U.S.-based stock funds in December, a calendar-month record that emphasizes the diminishing goodwill in financial markets, preliminary Lipper estimates showed on Thursday. Fund investors trimmed their risk in the final days of 2018 to hunker down in case the Federal Reserve is too aggressively tightening monetary policy ahead of an economic slowdown and as the United States and China spar over trade. Some people see recent equity declines as a buying opportunity and are stockpiling cash to take advantage should prices fall further.
  • Democrats wasted no time flexing their new power in the U.S. House of Representatives on Thursday as they maneuvered to pass legislation backed by new Speaker Nancy Pelosi that would end a 13-day partial government shutdown while ignoring President Donald Trump’s demand for $5 billion for a border wall. Thursday marked the first day of divided government in Washington since Trump took office in January 2017, as Democrats took control in the House from his fellow Republicans, who remain in charge of the Senate.

GOLD TRADING FORECAST TODAY

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