Gold prices moved marginally, as investors appeared to await the Federal Reserve’s interest rate decisions before deciding on their position on the precious metal. Specifically, the August gold contract ended trading at $1,719.1 an ounce, showing a marginal increase of less than 0.1%, having strengthened by just $1.4. The US central bank is expected to […]
Tag: Metals – Gold
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: Losses for 5th straight week down 2.2%
Gold failed to take advantage of the dollar and bond weakness, posting small losses on Friday and closing in on its fifth straight week of losses as fears of a potential recession continue to weigh on metal prices. In particular, the gold U.S. crude for August delivery fell $2.20, or 0.1%, to settle at $1,703.60 […]
Gold is at a 15-month low and silver is at a 2-year low under pressure from the dollar
Gold suffered major losses on Thursday, with the precious metal under heavy pressure from a stronger dollar, which pushed its price to its lowest level in more than a year, while silver and platinum hit two-year lows. According to the analysts rise of the dollar has weighed on metal prices. Today, the US currency climbed […]
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 […]
Gold is at a 9-month low
With fresh losses taking its price to a nine-month low, gold moved today as further strengthening of the dollar and bets on aggressive Fed rate hikes curbed investor interest in the precious metal. Specifically, the August gold contract ended trading at $1,731 an ounce, down 0.6% or $10.6. In the same sentiment, silver also saw […]
Gold: Extends weekly negative streak with ‘plunge’ 3.3%
Gold closed with gains on Friday, however these were not enough to reverse a negative week, the fourth consecutive one with losses for the precious metal, which was pressured by the strengthened -by about 1.8% in the 5-day- dollar. The movements of the dollar will continue to be a driver for the gold market next […]
Gold: Snaps streak of 7 negative sessions with gains of 0.2%
Gold closed with gains on Thursday, snapping a streak of seven negative sessions, the longest in more than three years. The precious metal bounced back from a near 9-month low it hit yesterday, finding support in the weaker dollar which fell 0.1% “Gold’s plunge over the past two days was largely due to a stronger […]
Losses of 2.1% brought gold to a year low
Gold was also lower today, failing to take advantage of strong jitters in global equity markets as the rising dollar weighed on demand for the precious metal. In particular, the gold contract for August delivery ended trading at the lowest level seen within 2022 in $1,763.9 the ounce with losses 2.1% or $37.6. Silver also […]
Gold losses 1.6% in the week, silver at a 2-year low
Gold pared its losses on Friday after falling below $1,800 during the session, closing the week in the negative. Silver closed at its lowest level since July 2020. Today’s losses for gold came after a 2% plunge for June, with the metals continuing their downward trend and analysts expecting the precious metal to continue to […]