‘Fear’ Helps Gold Maintain Its $1,290 Level: TD Securities
Gold is benefitting from “heightened fear levels” amid global growth concerns, while “industrial components” weigh on platinum and silver, says TD Securities. “The industrial precious metals failed to confirm a shift in momentum, the bar for CTAs to cover their shorts has been raised - but remains in range with the hurdle rate for silver and platinum estimated around $15.75/oz and $840/oz,” the analysts write.
By Anna Golubova of Kitco News; firstname.lastname@example.org
Technicals Still Bullish For Gold: FXTM
Although gold is struggling to find momentum to break $1,300 an ounce, Lukman Otunuga, Research Analyst at FXTM says that the yellow metal still has a bright future. The comments come as gold holds on to gains just down from its six-month high. February gold futures last traded at $1,291 an ounce, up 0.12% on the day. “Taking a look at the technical picture, gold remains firmly bullish on the daily charts as there have been consistently higher highs and higher lows. A solid breakout and daily close above the psychological $1,300 level is seen opening a clean path towards $1,308 and $1,324,” he says.
By Neils Christensen of Kitco News; email@example.com
Gold Is Finding New Support From Brexit Uncertainty: Commerzbank
Monday January 14, 2019 12:38
Gold prices remain in striking distance of $1,300, finding some safe-haven support as Brexit uncertainty continues to loom over financial markets, says commodity analysts at Commerzbank. The comments come ahead of a critical U.K. Parliament vote. If the vote fails, then Britain could face a no-deal exit with the European Union. Market anxiety over Brexit is growing as Britain is expected to officially leave the EU by the end of March. “At present, it looks as if the House of Commons will reject the deal with a relatively clear majority. Gold should remain in demand as a safe haven given that it is not clear what would then happen next,” the analysts say. “Gold ETFs are therefore likely to remain very popular. So far this year, they have seen inflows on every day of trading.”