Category: Gold

Gold held steady as traders weighed monetary tightening path by the US Federal Reserve after economic data pointed to elevated inflation in consumer and producer prices. A measure of producer-prices fell for a second month in August, although it increased 8.7% from a year ago, Labor Department data showed Wednesday. The print come after hotter-than-expected consumer price data released the previous day and feed into mounting concerns about the breadth and pace of US inflation. Stubbornly-high inflation will likely keep the Fed’s aggressive interest-rate hikes on track for the coming… Read More Here

Gold prices rose on Monday as the dollar fell to a more than two-week low, prompting investors to buy bullion, while markets eyed US inflation data for further clues on Federal Reserve rate hikes. Spot gold was up 0.4% at $1 722.79 per ounce  as of 08:26 GMT. US gold futures rose 0.3% to $1 733.20. The dollar index hovered close to its lowest level since August 26, making gold less expensive for holders of other currencies.  “Gold’s gains at the onset of this week should prove temporary if the incoming US CPI… Read More Here

Gold advanced to the highest since late August on Friday as expectations firmed for a super-sized interest rate increase from the US Federal Reserve later this month. Spot gold rose 0.5% to $1,716.27 per ounce by 12:05 p.m. ET, on pace for its first weekly gain in a month. US gold futures bounced 0.4% to $1,727.40 per ounce in New York. Meanwhile, the dollar dropped to a more than one-week low against its rivals, making greenback-priced bullion less expensive for overseas buyers. “The US dollar index really dropped sharply overnight… Read More Here

Gold stabilized after a two-day decline as traders watched a surging dollar and a surge in Treasury yields amid expectations of further monetary tightening by the Federal Reserve. Spot gold was little changed at $1,701.59 an ounce at 12:57 p.m. London, after falling 0.6% in the previous two days. The Bloomberg Dollar Spot Index hit a record high. Silver and palladium rose, while platinum was stable. Bullion had fallen below $1,700 an ounce as central banks broadly raised interest rates to fight inflation, dampening the appeal of the non-interest-bearing asset. “Gold is… Read More Here

Gold prices fell to a one-month low on Monday, as US Federal Reserve Chair Jerome Powell’s stance to continue with aggressive monetary policy to bring down inflation dented the zero-yielding metal’s appeal and boosted the dollar. Spot gold had shed 0.7% to $1 724.88 per ounce by 05:50 GMT. Prices earlier fell to $1 720.55, their lowest since July 27. US gold futures dropped 0.8% to $1 736.40/oz. The dollar index scaled a 20-year high, making greenback-priced bullion more expensive for buyers holding other currencies.  Gold’s momentum has turned lower and while at some point there will be a safe-haven flow,… Read More Here

Gold declined again on Friday in the wake of Federal Reserve Chair Jerome Powell’s remarks at the Jackson Hole economic symposium in Wyoming, where he warned against any idea that the US central bank would start loosening monetary policy soon. Spot gold fell 1.2% to $1,736.93 per ounce by noon ET, erasing its gains for the week. US gold futures were down 1.3% to $1,749.10 per ounce in New York. Gold’s decline comes after Powell signalled that the US central bank will likely keep raising interest rates and leave them elevated for… Read More Here

Gold traded at the lowest level in more than three weeks as Federal Reserve officials reiterated their commitment to tighter monetary settings to curb inflation. Bullion capped its first weekly decline in five as traders weighed hawkish comments by policy makers which portended higher interest rates. Fed Bank of Richmond President Thomas Barkin said Friday the central bank was resolved to returning inflation to its 2% target, even if that meant risking a US recession. All eyes will be on Chair Jerome Powell when he speaks this Friday at the annual gathering of central bankers at Jackson… Read More Here