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Jul 21, 2016

MarketWatch | Gold Futures - July 21, 2016: Gold Futures Settle Higher After Touching a 1 Month Low By Myra P. Saefong and Rachel Koning Beals





Gold futures managed to settle with a modest gain Thursday, during a rocky trading session that saw prices touch their lowest levels in about a month.
Weakness in the dollar and U.S. equities and expectations of accommodative central-bank policies combined to nudge gold prices higher.
August gold GCQ6, +0.09%  tacked on $11.70, or 0.9%, to settle at $1,331 an ounce. It saw a wide range of trading between a high of $1,332.30 and a low of $1,310.70, the weakest intraday price since June 23, according to FactSet data. It had settled Wednesday with a loss of 1% at $1,319.30. That close came just a day after gold marked its highest finish in nearly a week.
Gold held its early gains after the European Central Bank took expected inaction on interest rates but said it would keep up its bond-buying stimulus. The metal then took a dip lower and climbed again.
“The precious metal is volatile due to the quantitative-easing hopes,” said Naeem Aslam, chief market analyst at ThinkMarkets. Both the Bank of England and the European Central Bank have delayed further easing measures, and speculation that the Bank of Japan may not offer any “helicopter money has also brought immense volatility,” he said.
For now, weakness in the U.S. dollar DXY, -0.10%  supported gold, as did declines in the U.S. stock market Thursday. Dollar and stock weakness can boost demand for relatively lower-risk precious metals including gold and silver.
U.S. economic data Thursday were mixed, offering few hints on investment demand for gold. A regional Philadelphia business index softened, while a separate national snapshot on jobless benefits claims improved. See full coverage on the Economy and Politics page.
Gold and silver futures remain relatively volatile and pinned to broader market moves. Precious metals fell Wednesday as U.S. stocks gained on the back of mostly upbeat earnings results. Yet prospects for global growth hiccups and stock market vulnerability, even with U.S. averages at record highs, have underpinned “haven” precious-metals prices, said analysts.
That is especially true in the wake of continued accommodative global interest rates, said Aslam.
“{The] market is addicted to this medicine and most of the boom which we have experienced in the equity market is based on the basis of this cheap funding,” said Aslam. “If these liquidity tanks start to run dry, we may start to see heavy [stock] selloff, which many have been waiting for.”
Chintan Karnani, chief market analyst at Insignia Consultants, said there’s speculation that the ECB and BOE will announce more monetary-easing measures in August. This is supporting gold prices, he said.
Separately, reports that the Tokyo Commodity Exchange will launch a gold futures contract backed by physical gold, has given gold futures a lift. “This will support the long-term cause for gold,” said Karnani.
Meanwhile, September silver SIU6, +0.33% tacked on 20.2 cents, or 1%, to $19.815 an ounce to recoup about half of what it lost on Wednesday, when it ended at $19.613—the lowest settlement since July 1, according to FactSet.
Among the exchange-traded funds, the SPDR Gold Trust GLD, +1.52%  was up 1.3% as of gold’s settlement, while the VanEck Vectors Gold Miners ETF GDX, +3.14% gained 3.5%.
September copper HGU6, -0.04%  added a half a cent to $2.259 a pound, October platinum PLV6, -0.10%  climbed $16.50, or 1.5%, to $1,108 an ounce and September palladium PAU6, +0.18%  finished at $685.45 an ounce, up $9.45, or 1.4%.

WSJ | Forex Closing on July 21, 2016

Major Currencies
Thursday, July 21, 2016

WSJ | Major Indexes Closing on July 21, 2016

Major Indexes5:39 p.m. EDT 07/21/16

CMI Spot Prices at Close on July 21, 2016

Spot Prices as of traditional New York closing times

Thursday, July 21, 2016

WSJ | Most Actives Closing on July 21, 2016

Most Active Stocks by Volume
4:31 pm ET 07/21/2016

WSJ | Biggest Decliners Closing on July 21, 2016

THE WALL STREET JOURNALBiggest Decliners Closing
Biggest Decliners
4:31 pm ET 07/21/2016

WSJ | Biggest Gainers Closing on July 21, 2016

THE WALL STREET JOURNALBiggest Gainers Closing
Biggest Gainers
4:31 pm ET 07/21/2016

Federal Reserve Bank of New York Org.: Agency MBS Transaction Summary - July 21, 2016

Agency MBS Transaction Summary
Gross purchases from July 14 through July 20, 2016: $10,201 million
Sales (dollar rolls) from July 14 through July 20, 2016: $125 million
Net purchases from July 14 through July 20, 2016: $10,076 million

FRB Press Release - July 21, 2016: Federal Reserve Board Announces Adoption of Changes to Part II of the Federal Reserve Policy on Payment System Risk

DealBook P.M. Edition - July 21, 2016

Thursday, July 21, 2016

The New York Times

The New York Times

Top Story
U.S. Sues to Block Anthem-Cigna and Aetna-Humana Mergers
The Justice Department contends that allowing the mergers would quash competition, leading to higher prices for consumers and reducing their benefits.

Wall Street at Close Report, by CNBC on July 21, 2016

US stocks close lower, Dow snaps 9-day winning streak

Kate Rooney

U.S. stocks closed lower Thursday, snapping the Dow's nine-day winning streak, as oil prices weighed and the market consolidated ahead of next week's Fed meeting.

European Markets at Close Report, by CNBC on July 21, 2016

Stocks end mixed after ECB holds fire on rates

Arjun Kharpal, Alexandra Gibbs, Holly Ellyatt

European stocks finished mostly around the flatline on Thursday after the European Central Bank (ECB) left its key interest rate unchanged and as investors digest a slew of earnings from major companies.

Washington Post | Politics - July 21, 2016.

Sen. Cory Booker of N.J. remains under VP consideration for Clinton

NYT First Draft on Politics - July 21, 2016

Thursday, July 21, 2016

The New York Times

The New York Times

Thursday, July 21, 2016

Donald J. Trump with Gov. Mike Pence of Indiana.
Donald J. Trump with Gov. Mike Pence of Indiana. Doug Mills/The New York Times
The Republican Convention, Day 4: What to Watch For

BEA News: Release - July 21, 2016: Gross Domestic Product by Industry, 1st quarter 2016.

The U.S. Bureau of Economic Analysis (BEA) has issued the following news release today:
Construction; health care and social assistance; and retail trade were the leading contributors to the increase in U.S. economic growth in the first quarter of 2016. According to statistics on the breakout of gross domestic product (GDP) by industry released by the Bureau of Economic Analysis, 11 of 22 industry groups contributed to the overall 1.1 percent increase in real GDP in the first quarter.

The full text of the release on BEA's Web site can be found at 

DealBook Today's Top Headlines - July 21, 2016: Tesla's New Grand Plan

TESLA'S NEW GRAND PLAN The chief of Tesla, Elon Musk, has published a new "master plan," which involves installing a solar panel system into cars, building heavier vehicles and introducing a ride-hailing business. 

Asian Markets,, by MarketWatch

Hong Kong stocks continue rally, near bull market territory

Chao Deng

Hong Kong stocks were close to entering a bull market Thursday, in yet another sign of the building confidence among global investors that central banks will soon roll out measures to boost economies.
The Hang Seng Index HSI, +0.54%   was last up 0.6% at 22003.65, having risen in six of the past seven trading sessions. Property and financial stocks propelled the benchmark’s recent gains, with those sectors up 2.5% and 1.5%, respectively, this week.

U.S. Stock Market Future Indications, by MarketWatch - July 21, 2016

Dow on track to snap its 9-session win streak as flood of earnings, data hits

Anora Mahmudova, Victor Reklaitis

U.S. stock futures on Thursday pointed to a small drop at the open, putting the Dow industrials on track to halt a nine-session winning streak.

The Guardian | UK | Media | Media Briefing- July 21, 2016: Today's Media Stories From The Papers

Daily Mail ad revenue shows signs of recovery in second quarter
Slowing of print advertising decline – with significant improvement since Brexit vote – prompts hopes that downturn is ending