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Gold May '16 (GCK16)

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Gold Futures Market News and Commentary

Dollar Gains on Euro Ahead of Thursday’s Expected ECB Rate Cut

The dollar index (DXY00) Wednesday rose by +0.15%.  The dollar raced to its high Wednesday after the May ISM services index rose more than expected, a hawkish factor for Fed policy.  The euro is being undercut by expectations for the ECB to cut interest rates on Thursday.  Also, Wednesday’s mixed news on Japanese wages weighed on the yen to the dollar’s benefit. 

On the bearish side for the dollar, the US May ADP employment change rose less than expected, a dovish factor for Fed policy.  Also, T-note yields moved lower, which weakened the dollar’s interest rate differentials.

The US May ISM services index rose +4.4 to 53.8, stronger than expectations of 51.0 and the highest level in 9 months. 

The US May ADP employment change rose +152,000, weaker than expectations of +175,000.

The markets are discounting the chances for a -25 bp rate cut at 1% for the June 11-12 FOMC meeting, 19% for the following meeting on July 30-31, and 65% for the meeting after that on... Read more

Contract Specifications

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Contract
Gold 100-oz
Contract Size
100 fine troy ounces
Tick Size
0.10 (10 cents) per troy ounce ($10.00 per contract)
Trading Hours
5:00p.m. - 4:00p.m. (Sun-Fri) (RTH 7:20a.m. - 12:30p.m.) (Settles 12:30p.m.) CST
Exchange
COMEX
Point Value
$100
Margin/Maintenance
$11,000/10,000
First Notice Date
04/29/16
Expiration Date
05/26/16 (expired)

Seasonal Chart

Gold May '16
Average Price Chart for 5 Prior May Contracts

Commitment of Traders Positions as of May 28, 2024

View Chart Details
Commercials - Long / Short
109,181 (-9,333)
370,131 (-7,046)
Non-Commercials - Long / Short
286,737 (-13,992)
50,152 (-20,771)
Producers - Long / Short
18,542 (-1,948)
59,186 (+1,726)
Swap Dealers - Long / Short
69,148 (-7,023)
289,454 (-8,410)
Managed Money - Long / Short
174,444 (-16,161)
25,616 (-16,466)
Other Reportables - Long / Short
112,293 (+2,169)
24,536 (-4,305)
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
1,218.6 +0.12%
on 05/25/16
1,304.4 -6.46%
on 05/02/16
-22.5 (-1.81%)
since 04/26/16
3-Month
1,207.2 +1.07%
on 03/28/16
1,304.4 -6.46%
on 05/02/16
-0.6 (-0.05%)
since 02/26/16

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Dollar Gains on Euro Ahead of Thursday’s Expected ECB Rate Cut

The dollar index (DXY00 ) Wednesday rose by +0.15%. The dollar raced to its high Wednesday after the May ISM services index rose more than expected, a hawkish factor for Fed policy. The euro is being...

DXY00 : 104.137 (-0.13%)
^EURUSD : 1.08880 (+0.18%)
^USDJPY : 155.761 (-0.22%)
GCQ24 : 2,389.4 (+0.59%)
SIN24 : 30.590 (+1.72%)
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DXY00 : 104.137 (-0.13%)
^EURUSD : 1.08880 (+0.18%)
^USDJPY : 155.761 (-0.22%)
GCQ24 : 2,389.4 (+0.59%)
SIN24 : 30.590 (+1.72%)
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DXY00 : 104.137 (-0.13%)
^EURUSD : 1.08880 (+0.18%)
^USDJPY : 155.761 (-0.22%)
GCQ24 : 2,389.4 (+0.59%)
SIN24 : 30.590 (+1.72%)
1 Outperforming Gold Mining Stock to Grab Now

With gold prices projected to rally by this year's end, this gold mining stock could be a wise pick now.

GCQ24 : 2,389.4 (+0.59%)
GS : 461.68 (+1.40%)
EGO : 15.72 (-0.13%)
$SPX : 5,354.03 (+1.18%)
HGN24 : 4.6515 (+0.99%)

Key Turning Points

3rd Resistance Point N/A
2nd Resistance Point 1,236.8
1st Resistance Point 1,228.4
Last Price 1,220.1s
1st Support Level 1,215.9
2nd Support Level 1,211.8
3rd Support Level N/A

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52-Week High 1,304.4
Fibonacci 61.8% 1,267.3
Fibonacci 50% 1,255.8
Fibonacci 38.2% 1,244.3
Last Price 1,220.1s
52-Week Low 1,207.2

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