Gold closed lower on Wednesday after a five-day rally, the most the precious metal had seen since April, as analysts’ hopes for a U-turn from the Fed’s aggressive rate-hiking policy appeared to be dimming. in recent months the US central bank. And that’s because, despite expectations to the contrary, in recent days several Federal Reserve […]
Tag: Gold market
Germany: Warning for ‘flying blind’ of the aluminum industry
The president of the Aluminum Industry Association describes the situation in Germany’s aluminum industry as “flying blind” and rules out the possibility of saving natural gas without reducing production and therefore deliveries. A reduction in fuel tax, but also an increase in the retirement age to 70 is requested by the head of the sector’s […]
Gold snapped a five-week losing streak
Gold completed its first week of gains in the last six, capitalizing on the decline in the value of the dollar, but without any significant rise to indicate a change in trend. In particular, in today’s session the August delivery contract of gold was strengthened by 14 dollars or 0.8% and ended at 1,727.4 dollars […]
Gold ‘escaped’ from the 15-month low
Gold closed at a more than one-week high on Thursday, boosted by a rise in the euro after the European Central Bank’s decision to raise its key interest rate by 50 basis points, which led to a halt in the dollar’s wild run and a drop in US Treasury yields. The precious metal recovered all […]
Gold at a low of more than 15 months with new losses of 0.6%
A breather from the psychological $1,700 mark has been found for gold, after a second consecutive day of lower trading that sent the precious metal to its lowest close since May 15, 2021. In particular, the contract for August delivery ended trading at $1,700.2 an ounce, down 0.6% or $10.5. “The dollar’s retreat at the […]
Gold gains after fifth straight week of losses
Gold prices rallied on Monday as a weaker dollar helped gold recover some of its recent losses as easing fears of a 100 basis point rate hike by the US Federal Reserve also provided support. Gold for August delivery gained 0.4% to settle at $1,710.20 an ounce. September silver gained 1.3% to close at $18.84 […]
Gold closed with gains, despite the temporary pressures due to inflation
Gold finished higher on Wednesday after two days of losses, as the precious metal pared losses after the release of US inflation data, which climbed to a new near 41-year high in June, drawing also boosted by the decline of the dollar. As reported earlier today, US inflation climbed to 9.1% in June on an […]
Second day in a row of losses for the gold bullion dollar
Gold prices fell for a second straight session on Tuesday, remaining at a more than nine-month low, as a strengthening dollar kept the precious metal under pressure, which climbed to a 20-year high earlier today. After all, gold has been under pressure for days on expectations that the Federal Reserve will continue its aggressive interest […]
Gold at 21-month low after 7-day losing streak
Gold posted a seventh straight session of losses on Wednesday, with fresh dollar gains pushing the price of the precious metal to a 21-month low. On Wednesday, the ICE US Dollar Index rose 0.5% to 107.03. The most obvious reason for gold’s decline is the dollar’s sharp rise, “as the ICE US Dollar index (which […]
Copper below $8,000 in a gloomy sign for the global economy
Copper fell below $8,000 a ton today, hitting its lowest level since early 2021, as growing fears of a global economic slowdown roiled industrial metals markets, Bloomberg reported. The metal – widely seen as a barometer of the global economy – fell as much as 3.5% to $7,970.50 a tonne on the London Metal Exchange, […]