Ernest Hoffman is a Crypto and Market Reporter for Kitco News. He has over 15 years of experience as a writer, editor, broadcaster and producer for media, educational and cultural organizations.
Jim Wyckoff has spent over 25 years involved with the stock, financial and commodity markets. He was a financial journalist with the FWN newswire service for many years, including stints as a reporter on the rough-and-tumble commodity futures trading floors in Chicago and New York.
Jim Wyckoff has spent over 25 years involved with the stock, financial and commodity markets. He was a financial journalist with the FWN newswire service for many years, including stints as a reporter on the rough-and-tumble commodity futures trading floors in Chicago and New York.
Gold has retreated from record highs since 21 October, while oil has gained strongly as there has been some de-escalation of the American-Chinese trade war and the USA introduced new sanctions on major Russian oil companies.
Gold consolidates near $4,014 while silver tests $49.40 resistance amid slowing India demand and renewed buying from China and Singapore.
Gold is holding steady near the $4,000 mark after the Fed's expected rate cut, but the lack of clear forward guidance has kept traders cautious.
Gold edged higher in early Asian trade amid prospects of continued central-bank demand.
Neils Christensen has a diploma in journalism from Lethbridge College and has more than a decade of reporting experience working for news organizations throughout Canada. His experiences include covering territorial and federal politics in Nunavut, Canada.
Jim Wyckoff has spent over 25 years involved with the stock, financial and commodity markets. He was a financial journalist with the FWN newswire service for many years, including stints as a reporter on the rough-and-tumble commodity futures trading floors in Chicago and New York.
The World Gold Council said global demand for gold accelerated in the third quarter as investors sought safe-haven assets due to growing geopolitical uncertainty and a weaker U.S. dollar.
Gold rose in the early Asian session on possible dip-buying after falling on Fed Chair Powell's indication that a December rate cut isn't a foregone decision.
Gold tested $4,030 before sellers pushed to $3,916, with a close below $3,916 eyeing $3,794.