We use cookies (including third-party cookies such as Google) to remember your site preferences and to help us understand how visitors use our sites so we can improve them. To learn more, please see our privacy policy and our cookie policy.

To agree to our use of cookies, click 'Accept' or choose 'Options' to set your preferences by cookie type.

Options Accept
BullionVault

CHARTS

  • English
  • Deutsch
  • Español
  • Français
  • Italiano
  • Polski
  • 日本語
  • 简体中文
  • 繁體中文
  • Daily audit
  • Help
  • Contact
  • Deposit
  • Login
  • Open account
  • ABOUT US
    • About BullionVault
    • In the press
    • Reviews
    BUY/SELL BULLION
    • Vaulted gold & silver
    • -Live order board
    • -Daily Price
    • Coins for delivery (UK)
    INVESTMENT GUIDE
    • Guide to gold
    • -How to buy gold
    • -Gold investment
    • -Gold investment plan
    • -Investment insurance
    • -Compare asset performance
    • Guide to silver
    • -How to buy silver
    • Guide to platinum
    • -How to buy platinum
    GOLD NEWS
    • Gold news front page
    • -Gold price news
    • -Opinion & analysis
    • -Market fundamentals
    • -Gold/Silver Investor Index
    • -Infographics
    CHARTS
    • Gold price
    • Silver price
    • Platinum price
    • Price alerts
  • Login
  • Open account
  • BUY/SELL BULLION
  • Vaulted gold & silver
    • ⤷
    • Live order board
    • Daily Price
  • Coins for delivery (UK)
  • INVESTMENT GUIDE
  • Guide to gold
    • ⤷
    • How to buy gold
    • Gold investment
    • Gold investment plan
    • Investment insurance
    • Compare asset performance
  • Guide to silver
    • ⤷
    • How to buy silver
  • Guide to platinum
    • ⤷
    • How to buy platinum
  • GOLD NEWS
  • Gold news front page
    • ⤷
    • Gold price news
    • Opinion & analysis
    • Market fundamentals
    • Gold/Silver Investor Index
    • Infographics
  • CHARTS
  • Gold price
  • Silver price
  • Platinum price
  • Price alerts
  • ABOUT US
  • About BullionVault
  • In the press
  • Reviews
  • Help
  • Contact
  • Daily audit
    • English
    • Deutsch
    • Español
    • Français
    • Italiano
    • Polski
    • 日本語
    • 简体中文
    • 繁體中文

Gold News

Live support

NEED HELP? ASK US NOW

Search form

Gold News front page

Gold Price News

Gold Prices Fall with Real Interest Rates as US Fed Risks 'Taper Tantrum' and 'Inflation Freak Out' in Bonds

More...

Gold Investing In Depth

Learn about gold bullion bars

Learn about gold bullion coins (and costs)

Gold investment: Why & how?

Gold Investment Analysis

  • Latest Gold Investor Index
  • Diversification: Gold as investment insurance
  • 40-year Asset Performance Comparison Table

Gold Articles

Opinion & Analysis

Gold Price News

Investment News

Gold in History

Gold Books

Gold Investor Index

Gold Infographics

Archive

  • January 2021 (18)
  • December 2020 (24)
  • November 2020 (23)
  • October 2020 (25)
  • September 2020 (25)
More...

List of authors

Gold Price Slips in USD as Brexit + Italy Boost Dollar, Hedge Funds Stay Bearish

Monday, 11/12/2018 14:14
GOLD PRICES edged lower on Monday as the US Dollar hit 16-month highs on the currency market amid fresh concerns over UK Brexit turmoil and Italy's yawning budget deficit, writes Atsuko Whitehouse at BulllionVault.
 
Crude oil meantime bounced 1.5% from its 10-day slump after Saudi Arabia said it's considering a steep output cut for December.
 
The Opec oil cartel is " focused on mitigating downside risks" reckons Peter Kiernan, lead energy analyst at the Economist Intelligence Unit in Singapore, after crude prices declined by almost one-fifth from this autumn's multi-year highs on a surge in supply from top three producers the United States, Russia and Saudi Arabia.
 
Spot gold meantime touched a new 1-month low of $1204 in Asian trade before regaining $3 per ounce in London business.
 
Hedge funds and other money managers last week trimmed their bearish positions in Comex gold futures and options by 4.3%, down for the 4th week running to the notional equivalent of 401 tonnes according to data from US regulators the CFTC.
 
That group's bullish position was still smaller however, rising only 2.7% to the equivalent of 285 tonnes and leaving Managed Money speculators net bearish on gold overall for the 17th week in a row.
 
Chart of Managed Money long and short bets on Comex gold futures + options. Soure: BullionVault via CFTC
 
Holdings in the world's largest gold-backed exchange-traded fund, the SPDR Gold Trust (NYSEArca:GLD), meantime shrank 3.8 tonnes to 755 tonnes as shareholders cut their position overall.
 
That was the first weekly drop in 5 for the world's largest gold-backed ETF trust fund.
 
"The Dollar is gaining strength after last week's Fed meeting and positive US economic data, which is weighing on non-yielding assets like gold," says a note from Geojit Financial Services in Kochi, south-west India.
 
In the UK, Prime Minister Theresa May was reportedly forced on Monday to drop plans for a cabinet meeting to agree her final Brexit deal with the European Union due to growing resistance within her own government following the high-profile resignation of 'EU Remainer' Jo Johnson, brother of arch-Brexiteer and former Foreign Secretary Boris.
 
Gold prices for UK investors jumped 0.9% from Friday's close to regain the £940 per ounce level Monday morning as Sterling fell.
 
The single Euro currency meantime hovered around 17-month lows against the US Dollar, slipping below $1.13 as the European Commission looked ready to escalate its budget battle with Italy.
 
Tuesday marks the deadline set by the EU for Rome's left-right coalition to revise its 2019 spending plans as Giovanni Tria, Italy's economy minister, works to reach a deal, a government source said on Sunday.
 
Gold prices for European investors climbed to reach €1073 Euro per ounce before halving that small 0.6% rally in afternoon trade.
 
Italy's borrowing costs meantime ticked higher on the bond market while other Eurozone government yields eased back.
 
US bond markets stayed closed Monday in observance of Veterans' Day. 
  • Reddit logo
  • Facebook logo
  • Twitter logo
  • Google logo
  • Yahoo logo
  • LinkedIn logo
  • Digg logo
  • StumbleUpon logo
  • Technorati logo

Atsuko Whitehouse is the Head of the Japanese Market at BullionVault and the Editor of Japanese GoldNews.

See all articles by Atsuko Whitehouse here.

Please Note: All articles published here are to inform your thinking, not lead it. Only you can decide the best place for your money, and any decision you make will put your money at risk. Information or data included here may have already been overtaken by events – and must be verified elsewhere – should you choose to act on it. Please review our Terms & Conditions for accessing Gold News.

Follow Us

Facebook Youtube Twitter LinkedIn

 

Mobile apps

 - live trading 24/7

 - buy & sell instantly

 - up-to-the-second charts

 

 

 

Daily news email
Go to 'communications settings' 

Get the latest daily gold price news free by email

Latest gold news by email

 

 

 

Gold Investor Index
5 January 2020

Gold Investor Index

Gold investing +58% in NY21

 

 

 

LBMA webinar
21 January 2021

LBMA

London gold trading

 

 

 

International
Investment

16 December 2020

Gold 2021

Gold in 2021

 

 

 

LBMA Alchemist
1 December 2020

Newton

True Gold/Silver Ratio

 

 

 

  •  Email us

Market Fundamentals

  • 'Cut Bullion Duty to Cut Smuggling': India's Gold Industry
  • Platinum Price Hits 4-Year High Even as Electric Beats Diesel Cars in Europe
  • Record Investing Pushes 'Industrial' Silver and Platinum into Deep Deficits
More...
  • Cost calculator
  • Cookies
  • Terms & conditions

©BullionVault Ltd 2005-

  • Twitter
  • Facebook
  • LinkedIn
  • YouTube

Save your cookie preferences

We use cookies to remember your site preferences, record your referrer and improve the performance of our site. For more information, see our cookie policy.

Please select an option below and 'Save' your preferences.

Save

You can update your cookie preferences at any time from the 'Cookies' link in the footer.

Secure auto-logout warning

You have not been active for some time.

For your security you will be logged out in   minutes unless you take action.