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GOLD: Gold's Rise Resumes in Asian Trading. 

GOLD
Metals bulletBulletMarketsFixed Income BulletsForeign Exchange BulletsCommodities

 

  • Gold’s six days of gains came to an end overnight as prices moderated ahead of a big Friday for economic data in the US.
  • Opening at  $2,856.45 in the Asian trading day, gold bucked overnight trends to rally most of the day, reaching $2,868.40.
  • For the week, gold is on track to deliver a 2.50% gain. 
  • Citibank analysts released research suggesting that global tensions triggered by Trump’s desire to levy tariffs, will drive investors to the ‘safe haven’ of gold.
  • Citibank suggests that gold prices could hit US$3,000 in the first half of the year which would add to an already strong year for bullion.
  • UBS’s strategists hold a similar view forecast $3,000 over the next 12 months..
  • Several key Central Bank’s restarted their buying programs last year in a sign that the demand cycle for gold is set to continue.
  • Gold’s fortunes in Friday’s trading are likely to hinge on the raft of significant economic data expected overnight in the US, and the insight it will give for the direction of interest rates.
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  • Gold’s six days of gains came to an end overnight as prices moderated ahead of a big Friday for economic data in the US.
  • Opening at  $2,856.45 in the Asian trading day, gold bucked overnight trends to rally most of the day, reaching $2,868.40.
  • For the week, gold is on track to deliver a 2.50% gain. 
  • Citibank analysts released research suggesting that global tensions triggered by Trump’s desire to levy tariffs, will drive investors to the ‘safe haven’ of gold.
  • Citibank suggests that gold prices could hit US$3,000 in the first half of the year which would add to an already strong year for bullion.
  • UBS’s strategists hold a similar view forecast $3,000 over the next 12 months..
  • Several key Central Bank’s restarted their buying programs last year in a sign that the demand cycle for gold is set to continue.
  • Gold’s fortunes in Friday’s trading are likely to hinge on the raft of significant economic data expected overnight in the US, and the insight it will give for the direction of interest rates.