Category: Gold

Gold prices seesawed in a narrow range on Wednesday with concerns over high inflation amid mounting sanctions on Russia buoying prices, though its gains are countered by expectations of an aggressive interest rate hike by the US Federal Reserve. Spot gold lowered by 0.1% to $1,920.87 per ounce by 1:50 p.m. ET. US gold futures were down the same percentage point, trading at $1,925.20 an ounce. “Inflation fears and the inflation data we’ve been seeing is what’s keeping gold up,” said RJO Futures senior market strategist Bob Haberkorn,  in a… Read More Here

Gold rose on Monday as the prospect of further sanctions on Russia over its invasion of Ukraine bolstered the metal’s safe-haven appeal, though a stronger dollar and rising US bond yields capped bullion’s gains. Spot gold was up 1.2% to $1,933.33 per ounce by 12:15 p.m. ET, while US gold futures advanced 0.7% to $1,936.90 in New York. Global outrage spread on Monday over the killings of civilians in northern Ukraine and looked set to galvanize the West into leveling additional sanctions against Moscow, which could possibly include Russia’s energy… Read More Here

Gold prices rebounded on Wednesday amid doubts over the possibility of a ceasefire between Russia and Ukraine. A retreat in dollar also helped to bolster the precious metal’s appeal. Spot gold rose 0.7% to $1,933.31 per ounce by 12:40 p.m. ET, returning to levels seen earlier in the week. US gold futures gained 1.0% to trade at $1,937.80 per ounce. Meanwhile, the US dollar fell 0.5% to nearly a two-week low, making gold less expensive for other currency holders. “Also helping gold is this Russian situation, which seemed to be… Read More Here

Gold prices slumped on Monday as both the US dollar and Treasury yields strengthened, sapping demand for the safe haven asset after last week’s gain. Spot gold fell 1.1% to $1,935.48 an ounce by 11:45 a.m. ET, erasing most of its gains from the last two sessions. US gold futures were down 1.0% to $1,935.00 per ounce in New York. Meanwhile, both the dollar index and US bond yields rose, driven by expectations that the US Federal Reserve will lead an aggressive wave of global central bank tightening. The 10-year Treasury… Read More Here

The World Gold Council (WGC) called for greater cooperation between large mining companies and artisanal miners and set out recommendations on Thursday to help bring small-scale miners into the market. Mainstream miners and refiners have typically avoided dealing with artisanal miners who use basic equipment, often work outside legal frameworks and can employ children and toxic materials such as mercury. But artisanal mining provides a livelihood to millions of people in Africa, South America and elsewhere, and pressure has grown from governments and non-governmental organisations for more to be done to bring them into… Read More Here