Commerzbank: Low Prices, Festival Season Boost India's Gold Imports
Indian gold imports were strong in September, helped bypreviously low prices and the ongoing festival season, says Commerzbank.Analysts cite preliminary data from the Finance Ministry showing that importsmore than doubled year-on-year to 93.8 tonnes after India had imported morethan 90 tonnes of gold in August. “The import dynamism may abate again soon,however, as gold in Indian rupees has become considerably more expensive sincemid-August,” Commerzbank adds.
By Allen Sykoraof Kitco News; asykora@kitco.com
RBC’s Gero: Gold Futures Softer With Oil Down, Dollar Strong
Monday October 8, 2018 08:45
Goldfutures are starting the week softer on a day when “cash is king”as margin calls, lower crude oil and China-inspired selling hurts gold fornow, says George Gero, managing directorwith RBC Wealth Management. “Further erosion of emergingmarkets may bring some retail gold sellers,” Gero says. “For now gold slideswith stocks, as closed bond market on holiday today and strong dollar continueto keep buyers on sidelines.”As of 8:29 a.m. EDT, Comex December gold was $14.80 lower to $1,190.80 anounce. The spot dollar index was up 0.323 point to 95.947.
By Allen Sykoraof Kitco News; asykora@kitco.com
BBH: Rising Yields Driving Global Markets
Monday October 8, 2018 08:45
Rising Treasury yields in the U.S. continue to be the main driver forglobal markets, says Brown Brothers Harriman. “Indeed, the impact has spread from therates markets to the equity markets,” analysts say. “This makes sense forseveral reasons. First, markets are coming to grips with a Fed that’s soundingmore confident than ever in hiking rates. Those assumptions are now beingchallenged.” Stock futuresare signaling a lower open on Wall Street Monday after losses last week, whenthe S&P 500 fell 1% and the Nasdaq by over 3%. The U.S. 10-year yield traded near 3.25% Friday, while the two-yeartraded near 2.90%, both cycle highs. The U.S. bond market is closed Mondaydue to the Columbus Day holiday. BBH adds that markets will be sensitive toU.S. readings on the Producer Price Index Wednesday and Consumer Price IndexThursday.
By Allen SykoraFor Kitco News
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