Category: Gold

Amid the frenzied analyses of supply, demand and spiking prices for green metals and critical minerals, another metal may be preparing to steal the spotlight: gold.  While the price of gold spiked earlier this year to $2,068 per oz. (just shy of its August 2020 all-time high) on Russia’s invasion of Ukraine, it hasn’t stayed at those elevated levels. At press time Wednesday, the yellow metal was at a relatively modest $1,850 per oz., just a touch above where it began the year at $1,827.50 per oz.  However, persistent inflation,… Read More Here

Gold could be heading for another rally, with warnings over a global economic slowdown paving the way for a fresh push toward $2,000 an ounce. A potent mix of decades-high inflation, geopolitical turmoil and growing talk of recession should be bullish for the traditional haven, according to speakers interviewed ahead of a precious metals conference in Singapore this week. Bullion is down about 10% from a peak in mid-March, after the concerns that Russia’s invasion of Ukraine might sprawl into a broader conflict dissipated. But with top banking executives now warning about fresh economic… Read More Here

Gold prices rose over 1% on Thursday, coinciding with a dip in the US dollar and discouraging private payroll data for the month of May. Spot gold was up 1.3% to $1,869.67 per ounce by 12:20 p.m. ET, its highest in nearly a month. US gold futures also gained 1.3%, trading at $1,873.30 per ounce in New York. Meanwhile, the US dollar index fell by 0.5%, slipping off a one-week high reached during Wednesday’s session. The latest data from payroll processing firm ADP showed that job creation at companies decelerated… Read More Here

Gold prices fell 1% on Wednesday as the precious metal was weighed by a rebound in the dollar ahead of the release of US central bank’s minutes from its May meeting. Spot gold dropped to $1,847.55 per ounce by 1:40 p.m. ET, on its way to snapping a five-session winning streak. US gold futures traded at $1,846.50 per ounce in New York. Meanwhile, the US dollar gained 0.4%, after hitting its lowest level in a month on Tuesday, making gold more expensive for overseas buyers. “The market is fixated on… Read More Here

Gold prices fell more than 1% to their lowest in 3-1/2 months on Monday as elevated bond yields and a firmer U.S. dollar dampened bullion demand, even as riskier assets dropped after grim China economic data. A stronger dollar makes gold expensive for overseas buyers, while higher Treasury yields raise the opportunity cost of holding zero-yield bullion. Spot gold was down 0.4% to $1,804.01 per ounce as of 1124 GMT, after hitting its lowest since Jan. 31 at $1,786.60 earlier in the session. U.S. gold futures fell 0.3% to $1,802.20.… Read More Here

Gold, along with other precious metals, retreated on Thursday as investors’ attention turned to the accelerating dollar, driven by bets that the US Federal Reserve will stick to aggressive rate hikes. Spot gold fell 1.0% to $1,834.30 per ounce by noon EDT, erasing its gains from the previous session. US gold futures were also down 1.0% to $1,833.90 per ounce in New York. Chipping away gold’s value was the US dollar, which climbed to fresh 20-year highs Thursday, reducing the safe-haven metal’s appeal for other currency holders. “Dollar is rallying… Read More Here

Gold climbed higher on Wednesday after hotter-than-expected US inflation fueled expectations that the Federal Reserve will maintain a path of aggressive interest-rate hikes. Spot gold gained 0.8% to $1,853.84 per ounce by 12:20 p.m. ET, but is still tracking lower on a weekly basis. US gold futures were 0.6% higher at $1,851.60 per ounce. According to Labor Department data released Wednesday, the core consumer price index, which excludes food and energy, increased 0.6% from a month earlier and 6.2% from April 2021, exceeding the median forecasts of economists. The broader CPI rose… Read More Here