• About
  • Contact
  • Privacy Policy
  • bitcoinBitcoin$10,743.21-0.06%
  • ethereumEthereum$355.55-0.45%
  • xrpXRP$0.239824-1.92%
  • bitcoin cashBitcoin Cash$227.03-0.41%
Cryptovibes.com - Daily Cryptocurrency and FX News
  • Home
  • News
  • Analysis
  • Crypto
  • Autotrading
    • Bitcoin Robot Guide
    • Bitcoin Future
    • Bitcoin Millionaire Pro
    • Bitcoin Pro
    • Bitcoin Loophole
    • Bitcoin Up
    • Bitcoin Storm
    • Bitcoin SuperSplit
    • Bitcoin Supreme
    • Bitcoin System
    • Bitcoin Fortress
    • Immediate Edge
    • Bitcoin Profit
    • Bitcoin Trader
    • Bitcoin Bank
    • Bitcoin Union
    • BitQT
    • Profit Compass
    • Bitcoin Champion
    • Bitcoin Optimizer
    • PBN Invest
    • Quantum AI
    • Celebrities
      • Teeka Tiwari Investment plan
      • Kate Winslet Bitcoin
      • Holly Willoughby Bitcoin
      • Ant McPartlin Bitcoin
      • Nicole Kidman Bitcoin
      • James McAvoy Bitcoin
      • Jim Davidson Bitcoin
      • Peter Lim Bitcoin
      • Jonathan Ross Bitcoin
      • Bear Grylls Bitcoin
      • Phillip Schofield Bitcoin
      • Mike Hosking Bitcoin
      • Ryan Reynolds Bitcoin
      • Dick Smith Bitcoin
    • Broker Reviews
      • Herdos Review
      • FXTB Review
  • Disclaimer
  • PR
No Result
View All Result
Cryptovibes.com - Daily Cryptocurrency and FX News
No Result
View All Result

Gold Prices Consolidate Lower After Last Week’s Huge Profits

John Wanguba by John Wanguba
March 30, 2020
in Analysis, FX Industry, News
Reading Time: 5min read
gold settles a little bit lower

gold settles a little bit lower

Share on FacebookShare on Twitter

Gold futures ended lower on March 30 after getting weighed down by a surge in U.S. stocks and strength in the dollar. All that happened as traders focused on rapidly moving developments in the wake of the coronavirus pandemic. Also, traders looked at President Trump’s extension of guidelines on measures aimed at mitigating the spread of the deadly virus.

Edward Moya, a senior market analyst at Oanda, said:

“Gold’s supply chain for the physical metal was disrupted over the last 10-days, but that has now settled and taken away any momentum for higher prices.”

However, gold’s outlook remains bullish as the world gradually adjusts to the never-ending promises of monetary easing. The next rally may be more of an escalator ride instead of an elevator one. Moya commented in a market update:

“The precious metal’s outlook remains bullish as the world adjusts to never-ending promises of monetary easing, but the next rally may be more of an escalator ride than elevator one.”

The Markets

Gold for June delivery GCM20, -0.774% on Comex dropped by $10.90, or 0.7%. It settled at $1,643.20 an ounce. Comex is now the most-active contract in the market. Prices for the April contract that is still among the more active had surged by 9.5% last week. That represented the most substantial weekly rise since September 2008, according to data from FactSet.

On the other hand, the May silver SIK20, -2.160%, lost 40.2 cents, translating to -2.8% to stand at $14.132 an ounce. Hence, it experienced a pullback after posting a weekly rise of over 17%, which is the biggest weekly gain since April 1987.

The founder of USAGOLD, Michael Kosares, said:

“The gold market is a very unsettled place these days. Some think that things will fall back in line after the April contract rollover, but if the bullion shortage continues, it’s anyone’s guess if that will happen. From our perspective, gold demand is alive and well and could very well be just the tip of the iceberg.”

Demand

He was speaking to reporters, noting that the demand for the physical gold coins at USAGOLD is currently running at levels not experienced since 2009. He added:

“For the first time in a long while, I can say without reservation that retail investors have joined funds and institutions in the quest for the physical metal.”

Markets were still digesting a March 29 news briefing by President Trump, where he extended social-distancing guidelines up to April 30. Previously, the president had suggested that he hoped to start lifting restrictions by Easter Sunday on April 12.

In the meantime, the U.S. dollar also was creating some considerable friction for bullion prices. The dollar was up 0.7% against a basket of at least six currency rivals according to ICE U.S. Dollar Index DXY, 0.621% data.

Performance

A stronger dollar might weigh down the commodities priced in the unit, which makes them more expensive for the users of other currencies. The United States benchmark stock indexes also traded higher on March 30 as the gold futures settled. Jeff Wright, executive vice president of GoldMining Inc., explained:

“We see a risk-on day, almost a return to normal in a way as U.S. equity markets are higher across most sectors. I do see this as a positive towards consolidation above the $1600 level for gold.”

Looking into the future, the next seven days may offer possible shocking economic statements and data which might enhance safe-haven demand. Wright added:

“Consumer confidence on Tuesday will be very bad, but it will get worse next time. Initial jobless claims on Thursday should [provide] another shocking number—my guess is well above [the] 3.28 million [claims] last week.”

There are several other metals traded on Comex. May copper HGK20, -0.230% lost 0.8% to trade at $2.1555 a pound. Additionally, July platinum PLN20, -2.508% lost 2.4% to trade at $723.80 an ounce while June palladium PAM20, 0.487% gained to reach $2,197.60 an ounce, up 0.04%.

Like what you're reading? Subscribe to our top stories
Tags: coronavirus pandemicGoldgold futuresgold marketsgold pricehaven assetsmarket updatesnovel coronavirus (COVID-19)president TrumpUSAGOLD

Related Posts

Peter Schiff Gold Site Accepting Bitcoin Payments, Is Schiff Secretly Accumulating BTC?
Analysis

Peter Schiff Gold Site Accepting Bitcoin Payments, Is Schiff Secretly Accumulating BTC?

January 23, 2021
Altcoins Awaken As Bitcoin Bulls Snooze Below $34K
Analysis

Altcoins Awaken As Bitcoin Bulls Snooze Below $34K

January 23, 2021
Analysis

Gold (XAUUSD) Price Approaches a Potential Bullish Reversal Level

January 23, 2021

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

About CryptoVibes

CryptoVibes (formerly FXTimes) is a daily Cryptocurrency and Forex industry news website that has covered the latest news in the industry since 2017. Our goal is to drive transparency in the finance industry and provide news for our users on blockchain, exchanges, business and industry regulation.

Trending Topics

  • 5 Quick Ways to Buy Bitcoin With PayPal
  • Bitcoin Revolution Review 2019 : Comprehensive Sign Up Guide
  • Bitcoin Loophole Review 2019 » Comprehensive Sign Up Guide
  • Bitcoin System Review 2019 » Complete The Bitcoin System App Guide
Facebook Twitter Instagram Telegram RSS Youtube

Information

  • About
  • Contact
  • Privacy Policy

Registered UK company no. 11705811. For advertising inquiries please reach us via email hello@fxtimes.com

Note that the content on this site should not be considered investment advice. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence. This website is free for you to use but we may receive commission from the companies we feature on this site.

Newsletter

Like what you're reading? Subscribe to our top stories
Main Bandar Poker Online Merangsangkan Taruhan Untuk Menang Penuh

Kalau Anda mengerti beberapa Main dengan referensi dibawah berikut ini, Anda akan membuat instruksi bikin Dikau buat dapat mainkan bagian pandang pada musuh. Kesudahannya pada saat Anda punya satu kartu yg sedikit untung, tentu saja Kamu dapat mainkan bagian ranggul itu.

Sampai bikin sampar memahami kemenangan Anda tandus langkah mutlak. Tetapi pra Anda mengerti bagaimana mainkan bagian pandang, tentu aja Anda lalu harus bisa terima bagian pandang dari musuh dengan sesuai beserta. Oleh karenanya Anda siap memahami jika pekerjaan ini demikian dapat diuntungkan jika dilihat dari sisi renung yg sesuai dengan. Oleh karena itu, beberapa orang pada Kamu tentu saja sadar jika pekerjaan main poker online demikian dapat digunakan bikin memicu keuntungan lewat langkah kusut. Tetapi sebenarnya pekerjaan ini harus Anda sadari ada sangat banyak strategi didalamnya yg harus Anda dapat aplikasikan.

Beberapa dari Anda pasti saja memahami jika ada keuntungan pada saat tiket besar bandar Poker Online terlihat. Barisan 5 tiket yg terlihat tentu aja ada salah satunya yg besar serta dapat bikin Anda dapat memakai bikin membuahkan keuntungan. Oleh sebab Main Bandar Poker Online itu permainan itu bisa berikan suport Anda memicu keuntungan yg subtansial jika diproses melalui langkah yang sesuai.

Beberapa dari Anda yang tentu memahami permainan ini antara satu yang dapat bawa serta Dikau membuahkan keuntungan. Dimana di saat Anda dapat mainkan bagian pandang dari sampar jika Anda menggenggam tiket yg sama besarnya. Karenanya pada saat kartu As yg terlihat tentu aja akan bikin Anda kian baik bikin kerjakan all in saja. Meski demikian mungkin masih musuh Dikau terlihat namun sebenarnya Kamu dapat membuahkan keuntungan yang semakin besar dengan menggetarkan beberapa musuh.

Trick Berjalan Bandar Poker Online Yang Jarang-jarang Terlihat
Kalau Dikau adalah orang yg seringkali main judi online, tetap saja Anda mengerti Permainan Bandar Poker Online dapat mendatangkan keuntungan yg subtansial. Permainan ini demikian dapat dimenangi pada saat Dikau dapatkan gabungan kartu mengelokkan tinggi bikin dapat mengakibatkan keuntungan yg subtansial. Per judian online dengan menggunakan sajian Poker Online antara wahid yg demikian menarik dalam dunia. Banyak sebagian orang2 yg membuahkan keuntungan daripada permainan ini pada beserta sisi yg dapat beralih jadi seseorang profesional kuat.

Agar Anda dapat memicu keuntungan lewat langkah ruwet. Antara dari Anda seharusnya pahami jika permainan Poker Online dapat berikan suport membuahkan keuntungan kalau diproses dengan strategi yg serasi. Sebenarnya begitu banyak kurang lebih macam yg tidak terlihat oleh banyak sebagian orang2 namun seringkali Anda dapatkan pada permainan ini.

Tata Menang Mainkan Kesempatan Flush
Anda harus memahami jika 5 kartu dengan sekar yg sama tipenya siap membuahkan flush. Oleh kesudahannya Anda harus pahami dan kemudian jika pekerjaan ini siap membuahkan keuntungan yg subtansial kalau diproses dengan pantas dengan. Pada saat ada 3-4 kartu yg demikian dapat termasuk bikin sampaikan suport Anda buat memicu flush, jadi Anda bisa membuahkan keuntungan besar.

Copyright © 2017-2019 Cryptovibes.com. Price data provided by our official partner CoinGecko.

No Result
View All Result
  • Home
  • Crypto news
  • Analysis
  • Editors’ Choice
  • Entertainment
  • Press Releases
  • ICO
  • Wisdom
  • Coins List
  • Advertising
  • About FXTimes
    • Privacy Policy
    • Terms of Use
    • Donate

Copyright © 2017-2019 Cryptovibes.com. Price data provided by our official partner CoinGecko.

en English
ar Arabicnl Dutchen Englishfr Frenchde Germanit Italianpl Polishpt Portuguesees Spanish
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.