Home » Money

Gold, silver futures settle higher

13 April, 2017, 01:28 | Author: Paula Vaughn
  • Gold steady, finds support from geopolitical worries

Heightened tensions in the Korean peninsula, and the Middle East following USA strikes on Syria, along with the upcoming French presidential election, have left investors nervous.

Spot gold was up 1.53 per cent at US$1,273.44 per ounce by 3:10pm EDT (1910 GMT), after hitting a fresh high since Nov 10 at the session high of US$1,275.16.

The metal rose above $1,270 on Friday for the first time since early November following much weaker than expected United States jobs data, and after the USlaunched a missile strike on a Syrian air base. The euro also came under pressure from worries over the tightening race for the French presidency.The wider financial markets took on a more cautious tone on Monday, with trading volumes muted by political tensions in the Middle East and the Korean peninsula.

"Geopolitical events (this time concerning North Korea) have seen gold break through US$1,260", Metals Focus said in a note.

Among other precious metals, silver was down 0.3 percent at $17.90 an ounce, having hit its highest since February 27 at $18.47 on Friday.

It fell back quickly in later trade, however, failing once again to beat key chart resistance at its 200-day moving average, which has broadly capped gains since October.

Stateside, remarks Monday from Federal Reserve (Fed) chair Janet Yellen provided little effect on the precious metal as she repeated her outlook that the central bank would raise USA interest rates gradually with an aim to sustaining full employment and near-2% inflation without letting the economy overheat.

Call of Duty: Black Ops 2 Now Backward Compatible on Xbox One
This is fantastic news and we're extremely happy that we'll be able to play one of the best games in the Call of Duty series. Modern Warfare 2 and Modern Warfare 3 follow close behind.

In currencies, the Canadian dollar held steady at 75.01 cents U.S., a day before the Bank of Canada is set to make its latest interest rate announcement. "From a technical perspective, the way is now clear for a run at $1,300 and possibly higher", Halley said.

Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund (ETF), rose 0.50 per cent to 842.41 tonnes on Tuesday.

The LBMA silver price benchmark auction was paused for 17 minutes on Monday after a circuit breaker was triggered when the auction price moved outside of the spot range, the CME said in a statement.

However, looking ahead, the prospects for gold and silver demand appear challenging, analysts said.

"There is certainly more geopolitical risks at the moment and that is more positive (for) gold than platinum and there is no surprise in that sense to see the spread widen. There is generally a downbeat (sentiment) about diesel cars in Europe", a London-based market analyst with a mining company said.

Platinum is used as a leading catalyst in diesel-powered vehicles, which is going out of favour in Europe. Platinum was 1.4 percent lower at $938.20, while palladium was down 1.5 percent at $789.50.

Recommended:

  • Massive rally in Budapest in support of Soros-funded university

    Massive rally in Budapest in support of Soros-funded university

    Yee told Reuters that, while the new law hurt the university and academic freedoms, Hungary remained a key USA ally. Protesters filling Kossuth Square outside Parliament said they want President Janos Ader to veto the legislation.
    Michigan's Rick Snyder ranked 4th most unpopular governor

    Michigan's Rick Snyder ranked 4th most unpopular governor

    In the Garden State, 25 percent of voters approve of Christie's performance while 71 percent said they disapprove of his work. The most popular governor was Charlie Baker of MA , who had a 75 percent approval rating to 17 percent disapproval.
    Pool lets you swim and fly at same time

    Pool lets you swim and fly at same time

    An infinity pool is a swimming pool whose positioning gives the impression that it merges into the surrounding landscape. For those who aren't into swimming above it all, there is another (opaque-bottom) pool located on the fourth floor.
  • Funeral held for music legend Chuck Berry in St. Louis

    Funeral held for music legend Chuck Berry in St. Louis

    He received a lifetime achievement Grammy in 1984 and was among the first inductees to the Rock and Roll Hall of Fame in 1986. Fans filed passed Berry's open casket, which held his cherry-red Gibson ES-335 electric on inside of its lid.
    Rolling Stone settles, but fight over rape story isn't over

    Rolling Stone settles, but fight over rape story isn't over

    A lawyer for Rolling Stone declined to comment. "This experience has been devastating to me, both professionally and personally". The settlement came after Rolling Stone challenged a jury's November verdict awarding Eramo $3 million.
    Amnesty hails 37% fall in global executions

    Amnesty hails 37% fall in global executions

    The partial dataset showed that the majority of the people whose death sentences were confirmed were either farmers or unemployed. In 2015 Amnesty International recorded 1,634 executions in 25 countries worldwide - a historical spike unmatched since 1989.
  • David Letterman's mom who appeared on his late night show passes away

    David Letterman's mom who appeared on his late night show passes away

    Petersburg Times story, the network asked Letterman to come up with some sort of tie-in on his show for the 1994 Winter Games . After revealing the scandal ("I have had sex with women who work for me", he said on air), the host was "shaken".

    House Intelligence Member Rep. Pete King: Rice Appearance Before Intelligence Panels "Likely"

    There is no other reasonable or plausible explanation for why Rice specifically targeted members of the Trump campaign. Schiff has declined to comment on the contents of the documents, while Nunes has said they caused him concern.
    Le Pen, Macron tied in run-up to French electionm says Elabe poll

    Le Pen, Macron tied in run-up to French electionm says Elabe poll

    The turbulent presidential campaign has grown increasingly bitter in recent weeks as candidates eye the finishing line. Unusually, the Elabe poll of around 1,000 voters on Tuesday tested a variety of hypothetical second-round matchups.
  • Wenger: 'Inconvenient' to talk about future

    Wenger: 'Inconvenient' to talk about future

    Wenger, 67, is reported to have been offered a two-year contract extension by Arsenal but has yet to reveal what he intends to do. Arsenal manager Arsene Wenger avoided questions about his future after his side's loss to Crystal Palace in the Premier League .
    The Lexington Realty Trust (LXP) Raised to

    The Lexington Realty Trust (LXP) Raised to "Hold" at Zacks Investment Research

    Denver Investment Advisors Llc increased Unum Group (NYSE:UNM) stake by 14,583 shares to 50,811 valued at $2.23 million in 2016Q4. After $0.22 actual EPS reported by Tilly's Inc for the previous quarter, Wall Street now forecasts -145.45% negative EPS growth.
    Obama expected at Protestant event in Berlin next month

    Obama expected at Protestant event in Berlin next month

    Barack Obama will meet with German Chancellor Angela Merkel in her home country late next month for a panel on democracy. The Obama Foundation said the discussion, which it will co-host, would be its first worldwide event.


Popular

Thor: Ragnarok Trailer Gives Glimpse of Hero Without Hammer and Hulk Battle
The final moments of Age of Ultron seemed to indicate that the Quinjet crashed near Fiji, but Hulk was never found. Finally, and perhaps most likely, Hulk could be brought to Sakaar by either the Grandmaster or Valkyrie.

US scuppers G7 bid to find joint stance on energy and climate
Former ExxonMobil CEO turned Secretary of State Rex Tillerson has spoken on his support of the Paris agreement in the past. President Barack Obama committed the U.S.to cut emissions 26 to 28 percent by 2025.

Ailing Josh Donaldson not starting in Blue Jays' home opener
Last year's Jays went 46-35 at home (on their way to 89-73 overall), outscoring opponents by 38 runs in their home confines. Interestingly, the Jays have twice previously started their home schedule against the Brewers.

Shares in chipmaker Dialog plunge over Apple contract doubts
The report goes on to suggest Apple might need to hire more than 1,000 engineers to completely replace its business with Dialog. About 80 engineers at Apple are working on chips for use as soon as 2019, he said , citing unnamed industry sources.

NY set to make state college tuition free for middle class
The deal includes both the State Universities of ny , or SUNY, and the City Universities of ny program, known as CUNY . That means NY will be the first state to put a policy into action that grants free tuition assistance to students.