{"id":75369,"date":"2020-09-25T21:11:58","date_gmt":"2020-09-25T18:11:58","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/gold-ends-lower-to-suffer-worst-weekly-slump-since-march\/"},"modified":"2020-09-25T21:11:58","modified_gmt":"2020-09-25T18:11:58","slug":"gold-ends-lower-to-suffer-worst-weekly-slump-since-march","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/gold-ends-lower-to-suffer-worst-weekly-slump-since-march\/","title":{"rendered":"#\n  Gold ends lower to suffer worst weekly slump since March"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a40e4ba13b3e\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a40e4ba13b3e\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/gold-ends-lower-to-suffer-worst-weekly-slump-since-march\/#Silver_futures_log_a_weekly_drop_of_nearly_15\" >Silver futures log a weekly drop of nearly 15%<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/gold-ends-lower-to-suffer-worst-weekly-slump-since-march\/#Myra_P_Saefong_and\" >Myra P. Saefong and<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/gold-ends-lower-to-suffer-worst-weekly-slump-since-march\/#Mark_DeCambre\" >Mark DeCambre<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#<br \/>\n  Gold ends lower to suffer worst weekly slump since March<br \/>\n<\/strong>&#8221;<\/p>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\"><span class=\"ez-toc-section\" id=\"Silver_futures_log_a_weekly_drop_of_nearly_15\"><\/span>\n  Silver futures log a weekly drop of nearly 15%<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"A53BFE66-FF23-11EA-B7BF-DAFAEAEFB471\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       Gold futures ended with a loss on Friday, with bullion booking its fourth decline in five sessions, prompting the asset to suffer its worst weekly slide in about six months. <\/p>\n<p> \u201cMost of the sell-off in the gold price is primarily down to the strength in the dollar index that we have seen this week,\u201d said Naeem Aslam, chief market analyst, at AvaTrade, in a note. The recent resurgence of the buck has made dollar-backed gold relatively more expensive to overseas buyers using other monetary units. <\/p>\n<div class=\"paywall\">\n       The dollar on Friday was climbing 0.3%, bringing its weekly rise to about 1.8% and on track for the sharpest such gain since April, as measured by the ICE U.S. Dollar Index<br \/>\n        DXY,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210598269\/delayed\" class=\"positive\">+0.28%<\/bg-quote><span>,<\/span><br \/>\n       FactSet data show. <\/p>\n<p>The Federal Reserve\u2019s \u201cmonetary policy confusion has boosted the dollar index, and this increase in the dollar index has brought more weakness for the gold price,\u201d said Aslam. <\/p>\n<p>\u201cInvestors aren\u2019t fully satisfied with the notion that the Fed is going to keep the interest rate lower for three years, as some of the Fed\u2019s committee members believe that the interest rate can go higher\u201d before the Fed reaches its inflation target, he said. <\/p>\n<p>Against that backdrop, December gold<br \/>\n        GCZ20,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210039572\/delayed\" class=\"negative\">-0.46%<\/bg-quote><\/p>\n<p>        GC00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210034565\/delayed\" class=\"negative\">-0.46%<\/bg-quote><br \/>\n       fell $10.60, or 0.6%, to settle at $1,866.30 an ounce, sending the metal to its lowest finish in two months. It saw a 4.9% weekly drop\u2014the steepest for a most-active contract since the period ended March 13, according to FactSet data.<\/p>\n<p>\u201cThere may well be another bull run heading towards the gold price,\u201d Aslam. \u201cThere is little to no chance that the Fed will become hawkish in the short to medium term when it comes to their monetary policy. This should be positive for the gold price.\u201d<\/p>\n<p>The coronavirus spread also has worsened in Europe, and if there\u2019s a similar scenario in the U.S., that would \u201cadversely impact the U.S. stock market\u201d and may \u201cincrease the odds further of the gold price moving higher,\u201d he said.<\/p>\n<p>Meanwhile, the everyday economic numbers that we see for the U.S. economy have started to show a lot more weakness, said Aslam. Gold prices had briefly pared losses to trade off the session\u2019s lows in the wake of data Friday on August U.S. durable goods orders, which showed a rise of 0.4%. That was the fourth straight gain, but a more modest rise following three straight strong gains. <\/p>\n<p>Next, the chance for a second Congressional stimulus package, which the stock market has been craving, remains slim. This should also support the gold price.<\/p>\n<div id=\"cx-membership-tile\"><\/div>\n<p><strong>See<\/strong>: House Democrats prep new bill as gambit to get stimulus efforts unstuck<\/p>\n<p>Concerns about the 2020 presidential election in the U.S. between former Vice President Joe Biden and President Donald Trump also have climbed, potentially setting a floor for gold prices, wrote analysts at UBS, in a research note. <\/p>\n<p><strong>Read:<\/strong>Trump says Supreme Court will need 9th justice to decide election outcome<\/p>\n<p>\u201cFurther gold price weakness is possible, but U.S. election uncertainties will likely intensify and the Fed will ultimately need to expand policy. Hence, we maintain our positive view on gold,\u201d the UBS analysts wrote.<\/p>\n<p>Meanwhile, December silver<br \/>\n        SIZ20,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210319381\/delayed\" class=\"positive\">+0.01%<\/bg-quote><\/p>\n<p>        SI00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210315219\/delayed\" class=\"positive\">+0.01%<\/bg-quote><br \/>\n       settled 10 cents, or 0.4%, lower at $23.093 an ounce, pushing it to its lowest settlement since late July. Gold\u2019s sister metal marked weekly decline of a 14.9%, its sharpest weekly drop since the week ended March 13. <\/p>\n<p>Among other metals traded on Comex, December copper<br \/>\n        HGZ20,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210059538\/delayed\" class=\"positive\">+0.23%<\/bg-quote><br \/>\n      \u00a0edged up by 0.1% to $2.971 a pound, with prices nearly 4.7% lower on the week. October platinum<br \/>\n        PLV20,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/213501024\/delayed\" class=\"positive\">+0.94%<\/bg-quote><br \/>\n      \u00a0added 0.5% to $942 an ounce, losing over 10% for the week, while December palladium<br \/>\n        PAZ20,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/214428583\/delayed\" class=\"negative\">-0.11%<\/bg-quote><br \/>\n      \u00a0fell 0.2% to $2,222.20 an ounce, for a weekly loss of around 6.7%.<\/p>\n<div data-layout=\"\n              inline\" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetCommentingPromo\n            \n            inline\n  article__inset\n        article__inset--type-InsetCommentingPromo\n            article__inset--inline\n  \"><\/p><\/div>\n<\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>      <span>By<\/span><\/p>\n<div class=\"author  hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Myra P. Saefong\",\"subhead\":\"The Wall Street Journal\",\"list\":[]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Myra_P_Saefong_and\"><\/span>Myra P. Saefong and<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<div class=\"author  hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Mark DeCambre\",\"subhead\":\"The Wall Street Journal\",\"list\":[]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Mark_DeCambre\"><\/span>Mark DeCambre<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<\/div>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener noreferrer\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7BA53BFE66-FF23-11EA-B7BF-DAFAEAEFB471%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener noreferrer\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Gold ends lower to suffer worst weekly slump since March &#8221; Silver futures log a weekly drop of nearly 15% Gold futures ended with a loss on Friday, with bullion booking its fourth decline in five sessions, prompting the asset to suffer its worst weekly slide in about six months. \u201cMost of the sell-off&#8230;<\/p>\n","protected":false},"author":1,"featured_media":75370,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-75369","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/75369","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=75369"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/75369\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/75370"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=75369"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=75369"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=75369"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}