Karthika Suresh Namboothiri

Gold dips as equities rally on trade optimism

03 Apr 2019

Gold prices slipped on Wednesday as stock markets rallied globally on hopes the United States and China could clinch a trade deal, while a weaker dollar limited bullion's losses.

Gold edges lower after upbeat U.S. manufacturing data

02 Apr 2019

Gold inched lower on Monday as stronger-than-expected U.S. manufacturing data offset support from sluggish retail sales numbers, while palladium surged 3 percent.

PRECIOUS-Gold rises as dollar dips; palladium snaps losing streak

29 Mar 2019

* Gold snaps three weekly sessions of gains * Palladium down 12 pct this week * GRAPHIC-2019 asset returns: http://tmsnrt.rs/2jvdmXl (Updates prices; adds comments, background) By Karthika Suresh Namboothiri March 29 Gold gained on Friday en route to its second quarterly rise as the dollar eased on tepid U.S. economic data, while palladium snapped three straight sessions of sharp losses, ending the quarter on a positive note. Spot gold was up 0.2 percent at $1,292.93 per ounce as of 1:34 p.m. EDT (1734 GMT). Prices struggled to break past resistance around $1,300 per ounce, a level it had fallen through on Thursday, with momentum capped by rising global equities. U.S. gold futures settled 0.2 percent higher at $1,298.50 per ounce. "The dollar is pulling back a little bit," said Josh Graves, senior commodities strategist at RJO Futures in Chicago. "Personal spending has declined, so investors are looking to place money in more safe-haven assets, like gold." U.S. consumer spending rebounded less than expected in January and incomes rose modestly in February, adding to concerns that slowing global growth was affecting the world's largest economy as well. The dollar edged lower against a basket of other currencies after the U.S. data, but pared losses as sterling fell after British Prime Minister Theresa May's Brexit deal was again voted down in parliament. Also propping up bullion were cautious signals from the U.S. Federal Reserve and the European Central Bank. Gold, however, was still bound for a second consecutive monthly drop, losing about 1.4 percent - its biggest decline since August - weighed down by the dollar's recent strength. The yellow metal had declined about 1.5 percent on Thursday. Palladium gained 1.5 percent on Friday to $1,368.21 per ounce, having slid over 12 percent in the week amid worries that industrial demand for the precious metal would be hurt by a weakening economy. "It's just some buyers coming in and thinking that these prices are of fair value and this is the opportunity to come into the market," said Philip Newman, a director at Metals Focus. The metal, used to make catalytic converters for vehicle exhaust systems, had soared since last year on a sustained deficit. The run stalled this week, with the metal sliding the most since January 2017 on Thursday. Palladium ended the first quarter up more than 9 percent. "I don't think the correction in palladium is done yet. Once we had the first $100 down day, that was the first red flag. You saw more investors unwind their long positions and take whatever profits they can," said RJO's Graves. Among other metals, platinum rose 1.3 percent to $847.50 per ounce, extending weekly gains. Silver was up 0.7 percent at $15.11. (Reporting by Karthika Suresh Namboothiri in Bengaluru, editing by G Crosse)

Palladium slumps seven percent in selloff, gold sheds over one percent

28 Mar 2019

Palladium slumped over 7 percent on Thursday, adding to the previous session's sharp slide, on concerns an economic slowdown could dent demand and as a weak technical picture pushed investors to book profits after a record run.

PRECIOUS-Palladium tumbles 7 pct as stunning rally hits buffers

28 Mar 2019

* GRAPHIC-2019 asset returns: http://tmsnrt.rs/2jvdmXl (Updates throughout, adds quotes)

PRECIOUS-Gold off 3-week highs as U.S. data lifts dollar, palladium peaks

22 Mar 2019

* Gold could break resistance at $1,321/oz -technicals (Updates prices)

Palladium scales new peak; gold up as Fed leaves rates steady

21 Mar 2019

Palladium hit an all-time high on Wednesday on concerns over tight supplies of the autocatalyst metal, while gold reversed course to rise after the U.S. Federal Reserve kept interest rates unchanged.

Palladium breaks above $1,600 in record run on supply woes

20 Mar 2019

Palladium surged past $1,600 for the first time on Tuesday, in a seven-session rally, on expectations that strained supplies of the autocatalyst metal could worsen, while platinum soared 3 percent.

PRECIOUS-Palladium soars to record, gold moves back up above $1,300/oz

15 Mar 2019

March 15 Palladium set a fresh record high on Friday amid expectations that China's economic stimulus would drive demand for the autocatalyst metal, while news that Russia may ban exports of precious metal scraps compounded worries of a supply deficit.

Gold falls 1 percent as 'no-deal' Brexit fears fade, dollar rises

15 Mar 2019

Gold fell more than 1 percent on Thursday, slipping below $1,300 for a second time this month, as fears of a "no-deal" Brexit faded and the dollar gained versus the pound ahead of a vote to extend the deadline for Britain's exit from the European Union.

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