Gold closed at its highest level since late June on Tuesday, a day ahead of the much-anticipated release of July US consumer price data, which is expected to provide insight into the Federal Reserve’s next steps on the battlefield. against inflation. Today’s rise in the yellow metal was fueled by falling stocks and a sliding […]
Tag: Metals – Gold
Recovery above $1,800 for gold
A weaker dollar and a drop in US bond yields revived investor interest in gold, which ended today’s trade regaining the psychological level of $1,800. Specifically, the December gold contract closed at $1,805.2 an ounce, up 0.8% or about $14. The intense uncertainties at the time have not highlighted the character of gold as a […]
The ‘ghost’ of the Fed cut off gold’s supply
The jitters caused by extremely strong US labor market data also derailed gold, which ended its third straight week of gains but pared gains after today’s decline. In particular, the gold contract for December delivery ended trading at $1,791.20 an ounce, down $15.50, or 0.9%. For the week, however, the precious metal gained 0.5%, according […]
Gold regained $1,800 with new gains of 1.7%
Gold regained the psychological level of $1,800 today as investors appeared to refocus on signs of an impending recession. In particular, the contract of December of gold ended trading at $1,806.9, up 1.7%, marking its highest close since June 30. The decline in US government bond yields combined with the weakening of the dollar gave […]
It broke gold’s five-day bull run
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 […]
Thursday bullish session for gold albeit with marginal gains
Geopolitical uncertainty appeared to work in favor of gold, which although with marginal gains extended its bullish streak to five consecutive sessions. In particular, the December gold contract ended trading at $1,789.70 an ounce, having imperceptibly strengthened by 0.1%. The recent retreat in US bond yields had provided support for the precious metal, but after […]
Mild rise for gold assessing uncertainty
The price of gold moved marginally higher today as investors evaluate the new economic data in an attempt to decipher the course of the Fed’s interest rates. Specifically, the most active gold contract for December delivery ended trading up $5.9, or 0.3%, to close at $1,787.7 an ounce. The dollar moved lower today, making gold […]
Mildly higher for gold assessing uncertainty
The price of gold moved marginally higher today as investors evaluate the new economic data in an attempt to decipher the course of the Fed’s interest rates. Specifically, the most active gold contract for December delivery ended trading up $5.9, or 0.3%, to close at $1,787.7 an ounce. The dollar moved lower today, making gold […]
Gold gains 3.2% weekly on Fed backdrop
Gold extended its bull run to end a positive week, as a weaker dollar following inflation data turned investor interest towards the precious metal. In this climate, his contract of gold August delivery completed transactions at $1,781.8 the ounce, rising 0.7% or $12.6. In the week the contract strengthened by 3.2%but even so for the […]
Gold jumps 1.8%, silver rallies nearly 7% in shadow of recession
Gold rebounded with gains that led to a more than three-week high today, as an unexpected drop in US GDP combined with a more dovish tone from the Fed yesterday appeared to underline the precious metal’s safe-haven status. Specifically, the gold contract for August delivery ended trading at $1,750.3 an ounce, up $31.2, or 1.8%. […]