Zeetrade News

Investing.com -- Gold prices tumbled to a three-month low on Thursday as growing confidence in a trade rapprochement between the U.S. and China drove bond yields and risk assets higher across the board. The Chinese Ministry of Commerce said that the two countries had agreed to roll back import tariffs on each other goods in phases as part of a preliminary truce. While that wasn’t expressly confirmed by U.S. sources on Thursday, it gels with recent reports that have cited unnamed Washington sources indicating that the Trump administration is prepared to back down on the use of its favorite trade weapon. By 11:13 AM ET (1613 GMT),  gold futures  for delivery on the Comex exchange were down 1.5% at $1,470.15 a troy ounce, having earlier fallen as far as $1,468.95, their lowest since the start of August, when President Donald Trump threatened his most dramatic increase in import tariffs yet on Chinese goods. Spot gold  was down 1.4% at $1,469.62. Silver futures ...

Gold prices fell sharply on Thursday, plummeting back to August figures. The XAU/USD index was wandering around $1469 at the end of the day, indicating a strong loss compared to last August's nearly $1560. One of the most important marks for gold was the psychologically important $1500. Struggling to narrow that gap throughout the day, the commodity was ultimately unsuccessful. According to a piece on MarketWatch, experts said that the price drop for the precious metal was partly due to rising yields and falling bonds, which led to investors' lack of aggressive rate cut expectations from central banks. One of the strong indicators that gold will get back on track in the near future is that China is one of the biggest consumers of it. The recently thawing trade war between the U.S. and China instills hopes that the gold will recoup soon, according to the MarketWatch report. Link :  https://www.dailysabah.com/economy/2019/11/07/gold-prices-fall-sharply-back-to-a...

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By Jeff Clark Senior Analyst, GoldSilver.com We don’t employ technical analysis that much, one reason being we’re buying gold and silver for what we believe will be a major shift in our markets, economy and currency. The strategy then, is just keep accumulating and preparing for that shift. But I know someone who is very good at technical analysis. So good, in fact, he’s a multi-millionaire primarily from trading via technical analysis. His name is Dominick Graziano, and we’ve become friends over the years. Despite our friendship, he absolutely refuses to tell me what I want to hear ( gold’s going through the roof! ). So I know when I get a chart from him that it will be dispassionate and solely about a trade he thinks will make him money. I also know I should probably pay attention to what he has to sa...

FILE PHOTO: U.S. Secretary of Energy Rick Perry speaks during a news conference in Jerusalem July 22, 2019. REUTERS/Ronen Zvulun VIENNA (Reuters) - The oil market is resilient and will react positively to the attack on Saudi Arabia's oil industry, U.S. Energy Secretary Rick Perry said on Monday, blaming the attack firmly on Iran. An attack on Saudi Arabia that shut 5% of global crude output caused the biggest surge in oil prices since 1991, after U.S. officials blamed Iran and President Donald Trump said Washington was "locked and loaded" to retaliate. "Despite Iran's malign efforts we are very confident that the market is resilient and will respond positively," Perry said in a speech to the International Atomic Energy Agency's General Conference, an annual meeting of its member states. He repeated his government's position that it is prepared to tap its Strategic Petroleum Reserve, which holds about a month's worth of U.S. oil consu...

By   Austin Weinstein September 10, 2019, 6:00 PM GMT+8 So much of the Permian Basin is under production that the lights glowing at night, on well pads and rigs and double-wide trailers, make the place look in NASA satellite photos like a giant Lite Brite. But there’s a spot where the Permian dims. It’s a big one, covering more than 250 square miles and loaded with enough oil and gas that it could, by some estimates, fetch $7 billion. In an era where everything in the basin seems to be for sale, though, the Fasken ranch isn’t. The owners have no interest. They don’t even want to drill very much. That’s heresy in the busiest U.S. oil patch, and almost as much of a curiosity as the lack of enthusiasm for cashing in. “As long as I have been alive, I have never known anyone to successfully negotiate any type of purchase from them,” said Kimberly Wurtz, a lawyer in Norman, Oklahoma, who grew up near the ranch in the 1980s and ’90s. Back in 1913, when Toro...

Stacked rigs are seen along with other idled oil drilling equipment in Dickinson, North Dakota, June 26, 2015. Andrew Cullen | Reuters Oil prices rose on Friday as the head of the U.S. Federal Reserve said it would “act as appropriate” to sustain an economic expansion that has been pressured by uncertainty over global trade. Global benchmark Brent crude was up 52 cents, or 0.9%, at $61.47 a barrel, while U.S. West Texas Intermediate (WTI) crude rose 22 cents, or 0.4%, to settle at at $56.52. Both benchmarks had declined earlier on concerns over slipping U.S. job growth and continued U.S.-China trade tensions, despite recent diplomatic progress. The Federal Reserve has an obligation “to use our tools to support the economy, and that’s what we’ll continue to do,” Fed Chair Jerome Powell said at the University of Zurich, in comments ahead of the central bank’s mid-September policy meeting. The Fed cut rates by a quarter of a percentage point in July. Crude pric...