Category: Gold

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

Gold extended its recovery from the recent selloff on Friday as a retreat in the US dollar enticed investors to snap up the safe haven metal. Spot gold rose 1.3% to $1,776.83 per ounce by 12:10 p.m. EDT, its highest in more than a week, representing a quick turnaround from the four-month lows touched on Monday. US gold futures jumped 1.5% to $1,779.20 per ounce in New York. Meanwhile, the dollar index fell 0.4% and US benchmark 10-year treasury yields also weakened, bolstering the appeal of gold, a non-yielding asset.… Read More Here

Barrick Gold Corporation has completed or progressed major capital projects in the second quarter of the year while its globally broadened exploration programmes delivered substantial reserve gains and stepped up the search for new world-class discoveries. The new Phase 6 heap leach facility at Veladero has been commissioned on time while the third shaft at Turquoise Ridge in Nevada has been sunk to its final depth. Also in Nevada, the updated Goldrush feasibility study has confirmed that this is a world-class asset which meets Barrick’s investment criteria. In the Dominican… Read More Here

Gold continued its slump after a stronger-than-expected US jobs report  last week  fueled bets that the Federal Reserve may soon start cutting its massive monetary stimulus. Spot gold fell as low as 4.4% in the first few hours of trading in Asia, but recovered to recoup about half of those losses once markets opened in New York. At 11:15 am ET, gold was down 2.0% to $ 1,728.04 an ounce, the lowest since early April. US gold futures also fell 1.9% to $ 1,729.30 an ounce. Silver also fell 7.5%, hitting a more… Read More Here