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 Priced Like Covid Never Happened as Powell 'Fails to Rescue' Stocks from Bond Slump

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

  • March 2021 (5)
  • February 2021 (23)
  • January 2021 (25)
  • December 2020 (24)
  • November 2020 (23)
More...

List of authors

Gold Price Steadies Near 1-Year Low as Trump Turns On Iran After the Dollar, Comex Specs Turn Bearish

Monday, 7/23/2018 14:20
GOLD PRICES held stable on Monday morning in London as the Dollar fell to a near 2-week low after President Trump lamented the US currency's recent strength, writes Steffen Grosshauser at BullionVault.
 
With Trump tweeting a blunt warning to the theocratic government of Iran, gold rallied to touch $1234 in the early session before falling back to Friday's close at $1229 per ounce, some 1.5% above the prior day's 1-year low.

To Iranian President Rouhani: NEVER, EVER THREATEN THE UNITED STATES AGAIN OR YOU WILL SUFFER CONSEQUENCES THE LIKES OF WHICH FEW THROUGHOUT HISTORY HAVE EVER SUFFERED BEFORE. WE ARE NO LONGER A COUNTRY THAT WILL STAND FOR YOUR DEMENTED WORDS OF VIOLENCE & DEATH. BE CAUTIOUS!

— Donald J. Trump (@realDonaldTrump) July 23, 2018

Gold priced in US Dollars has now dropped around 10% since it hit this year's high at $1365 in April.
 
"Comments over the weekend from Trump changed the environment somewhat, with the apparent push now to really weaken the US Dollar," said Australian bank ANZ's analyst Daniel Hynes.
 
"The current US administration has a clear preference for lower US Dollar rates and a weaker currency," agrees Australia & New Zealand Banking Group strategist Daniel Been.
 
"This will keep markets wary of further strength in the US Dollar."
 
Ahead of Trump's 'weak Dollar' comments last week however, hedge funds and other large speculative investors trading Comex gold futures and options flipped to holding more bearish than bullish contracts for the first time since January 2016, according to the latest data from US regulator the Commodity Futures Trading Commission (CFTC).
 
Last time the 'Managed Money' was net short Comex gold, the metal's price finally bottomed from the 2011-2015 bear market and began turning higher.
 
Chart of Managed Money and Non-Reportables' net speculative long position in Comex gold futures and options. Source: BullionVault  via CFTC
 
Speculative positions on Comex silver were also net short in the week ending last Tuesday, with bullish betting among the Managed Money category declining for five consecutive weeks.
 
Platinum positioning was net negative for the 15th week running, leaving only palladium to show a net bullish position among speculators on the CFTC data.
 
Silver today steadied with gold prices around last week's finish, slipping 8 cents to $15.43 per ounce.
 
Platinum prices meantime popped and retreated 0.8% to touch $835 per ounce, unchanged from last Monday's start after plunging $20 mid-week to set fresh 14-year lows.
 
"USD optimism, trade and EM [emerging markets] angst have prompted investors to shun gold," says a note from Canadian brokerage TD Securities, "dragging net positioning...lower...as money managers hold excessive shorts and are significantly underweight.
 
"A weaker USD and reversal in positioning should buoy the yellow metal."
 
Whereas Asian stock markets closed mixed on Monday, all European markets were down, led by car stocks that were most affected by trade concerns. 
 
After the finance ministers and central bankers of the world's 20 biggest economies failed to reach a trade agreement in Buenos Aires over the weekend, EU President Jean-Claude Juncker is set to travel to Washington this week in an attempt to persuade the US government to refrain from tariffs on European carmakers.
  • Reddit logo
  • Facebook logo
  • Twitter logo
  • Google logo
  • Yahoo logo
  • LinkedIn logo
  • Digg logo
  • StumbleUpon logo
  • Technorati logo

Steffen Grosshauser is Senior Operations Executive and Head of German-speaking Market at BullionVault, the worldwide biggest physical gold and silver market for private investors.

See all articles by Steffen 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
2 March 2021

Silver Investor Index

Silver beats gold again

 

 

 

LBMA webinar
21 January 2021

LBMA

London gold trading

 

 

 

Bloomberg TV
1 February 2021

Bloomberg TV

r/silver-surge

 

 

 

ET Now
3 March 2021

Gold drop

Gold's big drop

 

 

 

  •  Email us

Market Fundamentals

  • Green Energy: Platinum Key to New 'Hydrogen Catapult'
  • 2021 Gold Price to Rise 11.5%: LBMA Forecast
  • 'Cut Bullion Duty to Cut Smuggling': India's Gold Industry
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.