Category: Gold

Gold prices traded within in a tight range on Wednesday as investors held off from making large bets as they prepared for key US jobs data that could influence the Federal Reserve’s stimulus tapering strategy. Spot gold slipped 0.2% to $1,811.18 per ounce by 11:15 a.m. EDT, holding above the key $1,800 level. The most active gold futures contract fell 0.4% to $1,811.00 per ounce in New York. Meanwhile, the dollar index edged up from a one-month low, making bullion more expensive for holders of other currencies. The US non-farm… Read More Here

Gold climbed higher on Friday as Federal Reserve chairman Jerome Powell stopped short of signaling when the central bank would dial back its economic support, while reiterating his view that the current price spikes are transitory. Spot gold rose 1.1% to $1,811.51 per ounce by 11:50 a.m. EDT, breaking past the $1,800 level for the second time this week. US gold futures were up 0.9%, trading at $1,811.60 per ounce in New York. In a virtual speech at the Jackson Hole symposium earlier, Powell stated that the central bank could begin reducing… Read More Here

Gold prices retreated below $1,800 on Wednesday as the US dollar halted its slide, while investors sought cues on the timeline of monetary tapering from the US Federal Reserve’s symposium later this week. Spot gold declined 0.9% to $1,786.96 per ounce by 11:45 a.m. EDT. US gold futures were down 1.1% at $1,788.90 per ounce in New York. Earlier this week, gold surged to its highest in nearly three weeks, driven by a broad retreat in the dollar. “We’re seeing a slight recovery in the dollar and also some investors taking out… Read More Here

Gold prices rose above $1,800 per ounce on Monday after the US dollar retreated from multi-month highs, while investor concerns that the Delta coronavirus variant could dampen the pace of global economic recovery also lifted bullion’s safe-haven appeal. Spot gold rose 0.5% to $1,801.63 per ounce by 11:30 a.m. EDT, the highest in over two weeks. US gold futures jumped 1.2%, trading at $1,805.30 per ounce in New York. Meanwhile, the dollar index was down 0.4%, easing off the 9-1/2-month high hit last week, bolstering gold’s allure for holders of… Read More Here

Gold prices held steady on Wednesday as investors stayed on the sidelines before the release of minutes from the Federal Reserve’s latest policy meeting. Spot gold declined slightly by 0.2% to $1,781.69 per ounce as of 1:40 p.m. EDT. US gold futures also dropped 0.2%, trading at $1,783.90 per ounce in New York. Traders are turning their focus to the Fed minutes due Wednesday afternoon and next week’s Jackson Hole symposium, which may offer clues on the timing of the central bank’s tapering. In a town hall meeting Tuesday, Fed… Read More Here

Gold is heading for its fourth straight gain as investors turned to the safe haven asset amid concerns over the delta coronavirus variant and weaker economic data. Spot gold rose 0.4% to $1,786.45 per ounce by 11 a.m. EDT, its highest in over a week. US gold futures also advanced 0.7% to trade at $1,790.70 per ounce in New York. A report published by the Federal Reserve Bank of New York on Monday showed the state’s manufacturing activity moderated in August after expanding at an unprecedented pace a month earlier. Meanwhile,… Read More Here