Breaking News
Investing Pro 0
Free Webinar - Crude Oil Trading 2023 | Thursday, February 9, 2023 | 01:00PM PST Enroll Now

Gold Prices Up In The Midst of Increasing Unpredictability 

Commodities Mar 19, 2020 11:51PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.
 
XAU/USD
+0.07%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
Gold
-0.11%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

By Alex Ho 

 

Investing.com - Gold prices were on the rise Friday morning even as investors reduce their risk in an increasingly unpredictable market. 

 

Gold Futures inched back towards the $1,500 mark after taking huge swings between $1,457.9 and $1,486 in the last session. Prices for the yellow metal rose 0.55% to $1,489 by 11 PM ET (3 AM GMT).  

 

As the COVID-19 pandemic continues to threaten recession, global efforts to sooth equity investors in the past week cut into gold’s reputation as a safe-haven. Investors flocked to the strengthening U.S. dollar in a scramble for cash to cover losses in other markets. 

 

Vivek Dhar, an analyst at Commonwealth Bank of Australia, explained to Bloomberg, “While stimulus measures/rate cuts - including the ECB emergency bond-buying program - are usually positive for gold, we think any support will be short-lived,” He added, “There is a clear preference for the U.S. dollar over gold as global market risks intensify, and that should pressure gold prices lower in the near term.” 

 

Gold prices “can’t catch a break” said Ed Moya, Oanda market analyst, in a Thursday note. But he sounded a more positive note as he added, “The last 24-hours yielded additional stimulus measures from the Fed, ECB and BOE, which should clearly provide gold a springboard that will shoot prices higher once the scramble for cash eases and dollar loses its crown.  If the $1,450 an ounce level breaks for gold, we could see one last extreme selloff before long-term bulls jump back in.” 

Gold Prices Up In The Midst of Increasing Unpredictability 
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.
  • Any comment you publish, together with your investing.com profile, will be public on investing.com and may be indexed and available through third party search engines, such as Google.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (1)
stef stefanov
stef stefanov Mar 20, 2020 12:30AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
the herd is always wrong....
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email