Gold Market Update : Epic Research Singapore

Gold futures on Wednesday marked their worst settlement since late February as some upbeat U.S. economic data further fueled expectations that the U.S. Federal Reserve will raise interest rates at its meeting later this month.

June gold GCM6, -0.07% lost $2.90, or 0.2%, to settle at $1,211.90 an ounce on Comex. Prices haven’t settled at a level this low since Feb. 22, according to FactSet. They posted a loss of 5.9% for the month of May.

Gold traders have been waiting for “more valuable information regarding the direction of the Fed and a potential rate hike this month,” said Adam Koos, president of Libertas Wealth Management Group.

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Gold Market Update : Epic Research Singapore

Gold futures on Tuesday settled almost 6% lower for the month, marking their first monthly loss this year, as expectations for higher U.S. interest rates continue to dent the precious metal.

Prices, however, finished the day with a narrow gain—their first in nine sessions.

June gold GCM6, +0.22% tacked on $1, or less than 0.1%, for the session, to settle at $1,214.80 an ounce. Prices, based on the most-active contract, have lost 5.9%, or nearly $76 an ounce, from the $1,290.50 settlement at the end of April.

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Gold Market Update : Epic Research Singapore

Gold prices fell Monday, moving in the opposite direction of the U.S. dollar, which soared after comments by Federal Reserve Chairwoman Janet Yellen last week indicated an interest-rate hike could come this summer.

On Monday, gold prices GCN6, -0.04%  dropped $5.50, or 0.5%, to $1,208.80 an ounce. Gold recovered from earlier, sharper losses when it briefly tapped $1,199 an ounce. That was after closing down $6.60 lower to $1,213.80 an ounce on Friday — Yellen’s comments came just ahead of the gold settlement. Prices lost 3% for the week to finish at a three-month low.

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Gold Market Update : Epic Research Singapore

Gold futures on Friday logged an eighth-straight daily drop, losing about 3% for the week to settle at a three-month low, as continued strength in the U.S. dollar helped push prices for the metal toward lows last seen in late February.

Prices continued to fall as U.S. Federal Reserve Chairwoman Janet Yellen, during an interview that began shortly before the gold futures settlement, said an interest-rate increase could be appropriate in the coming months.

June gold GCM6, -0.66%  fell $6.60, or 0.5%, to settle at $1,213.80 an ounce. The settlement was the lowest since Feb. 22, according to FactSet data based on the most-active contracts.

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Gold Market Update : Epic Research Singapore

Gold futures extended their slide on Thursday to a seventh straight session, as overall strength in the U.S. dollar this month and the prospect of higher U.S. interest rates help push prices to their lowest level since early April.

June gold GCM6, -0.38% fell $3.40, or 0.3%, to settle at $1,220.40 an ounce—marking the lowest session finish since April 4. Month to date, prices have lost roughly 5.5%.

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Gold Market Update : Epic Research Singapore

Gold futures were at risk Wednesday of booking a sixth straight losing session as near-term sentiment for precious metals remained gloomy even as the dollar inched lower.

The dollar, which often trades inversely with gold, has been supported in recent days as expectations for a U.S. Federal Reserve interest-rate hike has taken hold.

Rate-hike expectations have helped to weigh on the yellow metal. Higher interest rates tend to lift demand for greenbacks, dampening buyer interest in dollar-priced precious metals. Rate increases also can put pressure on gold as the yellow metal doesn’t pay interest.

June gold GCM6, +0.52%  dropped $5.60, or 0.5%, to $1,223.60 an ounce, with prices poised for their lowest settlement since early April. Month to date, prices have lost more than 5%. July silver SIN6, +1.10%  bucked the trend to move up by 8.1 cents, or 0.5%, to $16.335 an ounce.

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Gold Market Update : Epic Research Singapore

Gold futures dropped on Tuesday for a fifth straight session, sending prices to their lowest settlement in more than a month.

The precious metal’s decline comes as upbeat U.S. economic data fueled expectations the Federal Reserve will nudge interest rates higher, dulling demand.

June gold GCM6, -0.08% dropped $22.30, or 1.7%, to settle at $1,229.20 an ounce. Prices marked the lowest settlement since April 14. Month to date, prices have lost about 4.8%.

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Gold Market Update : Epic Research Singapore

Gold futures settled lower Monday for a fourth session in a row, as the expectation that the Fed could raise interest rates as soon as next month drove precious-metals prices to their lowest levels since late April.

June gold GCM6, -0.27%  fell by $1.40, or 0.1%, to settle at $1,251.50 an ounce, with prices logging their lowest settlement since April 27. Last week, gold futures lost about 1.6%.

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Gold Market Update : Epic Research Singapore

Gold futures dropped on Thursday to settle at their lowest level in about three weeks as signs the Federal Reserve could raise interest rates in June dampened demand for the yellow metal.

June gold GCM6, +0.14% fell $19.60, or 1.5%, to settle at $1,254.80 an ounce. Prices haven’t settled at a level this low since April 27. July silver SIN6, +0.35% dropped 63.9 cents, or 3.7%, to $16.493 an ounce—ending the session at its lowest since April 18.

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Gold Market Update : Epic Research Singapore

Gold futures settled lower Wednesday, then fell further after minutes from the U.S. Federal Reserve’s April meeting showed that officials from the central bank were ready to raise interest rates in June if economic data warrant.

June gold GCM6, -1.25% settled at $1,274.40 an ounce, down $2.50, or 0.2%, from Tuesday’s finish. In electronic trading after the FOMC minutes, prices fell to lows under $1,265 an ounce.

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Gold Market Update : Epic Research Singapore

Gold futures climbed on Tuesday, set to log their highest settlement in more than a week as declines in U.S. equities and the dollar helped to lift the metal’s investment appeal.

June gold GCM6, +0.08%  rose $7.20, or 0.6%, to trade at $1,281.40 an ounce. A settlement around this level would be the strongest since May 6. Silver for July delivery SIN6, -0.03%  also tacked on 16.6 cents, or 1%, to $17.32 an ounce, also set for its highest settlement in over a week.

On Tuesday, the gold ETF SPDR Gold Trust GLD, +0.34% rose 0.4%. The VanEck Vectors Gold Miners ETF GDX, +1.35%  jumped 1.8%, while silver-focused iShares Silver Trust SLV, +0.55% was 0.8% higher.

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Gold Market Update : Epic Research Singapore

Gold futures settled narrowly higher Monday to reclaim a sliver of last week’s decline as the dollar largely traded flat to lower, boosting the appeal of precious metals.

Gold wrapped up Friday with its first weekly loss in three weeks after a stronger-than-expected reading for retail sales—the biggest monthly gain in a year—lifted Federal Reserve interest-rate expectations, and as a result, pushed up the dollar and depressed gold prices.

But the reaction to the data could be fleeting as few analysts have turned overly bearish on gold.

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Gold Market Update : Epic Research Singapore

Gold futures scored a gain on Friday, but still suffered a loss for the week—the first in three weeks—pressured by overall strength in the U.S. dollar.

Some of the latest U.S. economic data may raise the probability of higher interest rates, which also tend to pressure prices for the precious metal.

Gold for June delivery GCM6, +0.24%  added $1.50, or 0.1%, to settle at $1,272.70 an ounce, after trading between a high of $1,277.70 and low of $1,264 Friday. The contract saw a nearly 1.7% weekly decline, which was the first loss since the week ended April 22.

July silver SIN6, +0.16% tacked on 2.9 cents, or 0.2%, to end at $17.132 an ounce. It saw a 2.3% weekly drop.

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Gold Market Update : Epic Research Singapore

Gold futures fell Thursday on the heels of renewed strength in the U.S. dollar, giving back some of what they gained a day earlier, but prices settled above the session’s worst levels.

Data released Thursday showed a spike in first-quarter demand for gold, but recent strength in the greenback leaves the metal down 1.8% week to date.

Gold for June delivery GCM6, -0.14%  shed $4.30, or 0.3%, to settle at $1,271.20 an ounce after tapping highs above $12.80 as well as lows under $1,267. July silver SIN6, -0.57%  fell 21.6 cents, or 1.3%, to $17.103 an ounce.

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Gold Market Update : Epic Research Singapore

Gold futures settled higher Wednesday, rebounding from a nearly two-week low as a pullback in the U.S. dollar boosted the appeal of the precious metal.

Gold for June delivery GCM6, -0.10% rose $10.70, or 0.9%, to settle at $1,275.50 an ounce, while July silver SIN6, +0.27%  added 22.7 cents, or 1.3%, to $17.319 an ounce. The gold-backed SPDR Gold Trust GLD, +0.94%  rose 0.9%.

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Gold Market Update : Epic Research Singapore

Gold futures settled near a two-week low on Tuesday, as strength in global equities helped to dull the metal’s investment appeal and as uncertainty surrounded the outlook for the U.S. dollar.

Gold for June delivery GCM6, +0.51% fell by $1.80, or 0.1%, to $1,264.80 an ounce on Comex. Prices, which lost 2.1% on Monday, finished at their lowest level since April 27. The SPDR Gold Trust GLD, +0.27% edged up by 0.3%.

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Gold Market Update : Epic Research Singapore

Gold futures settled lower Monday, erasing all of the jobs data-fueled gains seen late last week, as the dollar found renewed strength.

Gold for June delivery GCM6, -0.08%  fell $27.40, or 2.1%, to settle at $1,266.60 an ounce. On Friday, gold gained $21.70, or 1.7%, to finish at $1.294 an ounce. It has had trouble extending much north of the closely watched $1,300-an-ounce line despite a few pokes at that important chart point.

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Gold Market Update : Epic Research Singapore

Gold futures succumbed to a rebounding dollar to end lower Thursday, a day ahead of a closely watched jobs report that could influence the path of the yellow metal.

Gold had spent much of the session in positive territory, trading as high as $1,288.40 an ounce, before legging lower only a few minutes before it settled on Comex. However, futures for silver enjoyed a modest gain. July silver SIN6, +0.31% climbed 2
.6 cents, or 0.2%, to $17.327 an ounce.

June gold GCM6, +0.68%  declined $2.10, or 0.2%, to $1,272.30 an ounce, marking the third decline in a row for the precious metal.

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Gold Market Update : Epic Research Singapore

Gold futures settled lower for a second session on Wednesday as the U.S. dollar remained firm while investors continued to focus on hawkish comments from Federal Reserve officials.

June gold GCM6, +0.67% lost $17.40, or 1.4%, to settle at $1,274.40 an ounce even as relatively riskier global stock markets pushed lower. Stocks and gold tend to move inversely, but not always. On Tuesday, gold fell for the first time in seven trading sessions.

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Gold Market Update : Epic Research Singapore

Gold futures finished lower Tuesday, retreating after the U.S. dollar rebounded off session lows and as investors sold some of their investments in the rapidly rising precious metal.

“The gold market saw some modest profit-taking pressure kick in from the shorter-term futures traders at late-morning Tuesday,” said Jim Wyckoff, senior market analyst at metal trader Kitco in a Tuesday research note.

June gold GCM6, -0.68% lost $4, or 0.3%, to $1,291.80 an ounce even as global stocks headed sharply lower, amid renewed fears of a global growth slowdown sparked by weak manufacturing data from China.


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