• 46 mins Meat And Dairy Account For 14.5% Of Global Greenhouse Gasses
  • 20 hours Social Media Influencers, Dream Job Or Billion-Dollar Fraud?
  • 22 hours Private Investors Turn Back On Mining
  • 1 day Four Big Pharma Companies Reach $250 Million Opioid Settlement
  • 2 days ‘Click To Pray’, The Vatican’s Latest Attempt To Draw In Millennials
  • 2 days 3 Oil Stocks Ready To Weather The Geopolitical Storm
  • 3 days Gold Miners Eye Big Third Quarter Profits
  • 3 days The U.S. Doubles Down On Domestic Lithium Production
  • 4 days Reddit Trader Scores 14,000% Returns On Rogue Trade
  • 5 days The Tangled Web Stretching From Turkey To DC
  • 5 days The U.S. Dollar Eyes Greater Upside
  • 5 days More And More Americans Believe A Recession Is Looming
  • 5 days Is The Pot Stock Boom Over Already?
  • 6 days How The California Utility Crisis Could Have Been Avoided
  • 6 days The Ugly Truth About Investing In Private Equity Deals
  • 7 days The World Is Facing A $1 Trillion Food Waste Crisis
  • 7 days Is It Time To Buy The Dip In Gold?
  • 7 days The History Of Oil Markets
  • 8 days Three Stocks To Watch Ahead Of Earnings Season
  • 8 days Markets Flat As Bulls And Bears Battle It Out
Private Investors Turn Back On Mining

Private Investors Turn Back On Mining

Private capital tracker Preqin in a third…

Is It Time To Buy The Dip In Gold?

Is It Time To Buy The Dip In Gold?

These price dips look like…

Gold Miners Eye Big Third Quarter Profits

Gold Miners Eye Big Third Quarter Profits

The gold miners are likely…

  1. Home
  2. Commodities
  3. Precious Metals

Positive Economic Data Weighs On Gold

Gold

Rising U.S. dollar indexes and restored expectations of a trade war resolution has weighed on gold rates, with the rare-earth metal plummeting to three-month lows.

A promising U.S. economic report revealed that traders and investors are growing more comfortable with risk, keeping safe-haven assents under pressure.

A higher U.S. dollar index is an added bearish element for the precious metal markets.

Expectations for Washington and Beijing to patch up trade war worries have bolstered stock-market gains, another element which is undermining gold's status.

Reports show that President Trump is likely to announce a strategy to sit down regarding a potential trade deal with China's president, Xi Jinping when he meets with the nation's vice premier on Thursday afternoon. However, there are still major difficulties to overcome in order to dispel U.S. desires to keep tariffs on Chinese products.

Despite the numerous unknowns still on the table, speculation in recent days for advancement in trade talks enhanced the desire for stocks, while the U.S. dollar twisted between gains and losses before firming Thursday and further weighing on rare-earth elements. Related: Turkey Blames The West For Pre-Election Lira Volatility

Traders and investors worldwide are still exceptionally positive, due in part to confidence the U.S. and China will quickly reach a trade offer.

Jobs report could push gold lower

Market observers are awaiting the U.S. Labor Department's job report for March, which is set to be published early Friday.

It's likely the most significant economic report of the month. The important non-farm payrolls number in the report is projected to be up 175,000 in March, with the unemployment rate likely to stay at 3.8 percent, which could further weigh on the price of gold.

The ADP national employment report for March released on Wednesdaypredicted  an increase of 129,000 jobs. The payrolls number was forecast to be up 173,000.

By Michael Kern for Safehaven.com

More Top Reads From Safehaven.com:

Back to homepage

Leave a comment

Leave a comment