Category: Gold

Gold prices opened in the red on Thursday after the US Federal Reserve kept its monetary policy unchanged without promising any more aid, supporting the dollar as the preferred safe haven asset. Investor sentiment reversed later in the session as bullion recovered from earlier losses. Spot gold was up 0.5% to $1,853.65 an ounce by 11:40 a.m. EST, while US gold futures gained 0.3% and traded at $1,851.10 an ounce. Nevertheless, the precious metal has lost about 2.8% so far this month, on course for its worst January performance since… Read More Here

Gold prices eased on Tuesday as a slightly firmer dollar and uncertainty over a US stimulus package kept bullion in check, with investors awaiting cues on future monetary policy decisions from the US Federal Reserve. Spot gold fell slightly by 0.1% to $1,853.21 an ounce as of 11:30 a.m. EST but held above the $1,850 an ounce level. US gold futures also dipped 0.1% to $1,852.80 per ounce. ″(Gold) is waiting for the Fed, it is waiting for a solid thing to emerge and as long as we continue to… Read More Here

Gold prices surged on Wednesday amid signs that interest rates may remain weak, boosting inflation expectations as Joe Biden begins the first day of his US presidency. Spot gold advanced 1.5% to $1,868.68 per ounce by 11:50 a.m. EST, near a one-week high. US gold futures were also up by 1.4% to $1,867.00 per ounce. The precious metal extended its gains following Tuesday’s comments from Biden’s Treasury Secretary nominee Janet Yellen that weakened the dollar. Specifically, Yellen told the Senate Finance Committee that a slew of state spending was needed… Read More Here

Gold prices edged higher on Monday, recovering from a near seven-week low, as prospects of a massive US coronavirus relief aid outweighed a stronger dollar and lifted bullion’s appeal as an inflation hedge. Spot gold advanced 0.6% to $1,838.30 per ounce by 11:30 a.m. EST, rebounding from an intraday low of $1,810.90 earlier. US gold futures were also 0.4% higher at $1,837.40 per ounce. Meanwhile, European equities and US futures remain under pressure. Global shares slipped over the past week on optimism surrounding a historic $1.9 trillion US aid package.… Read More Here

The covid-19 pandemic has raised uncertainty by compounding existing risks and creating new ones, but by the end of last year, investors were optimistic that the worst was over. Looking ahead, investors will likely see the low interest rate environment as an opportunity to add risk assets in the hope that economic recovery is on the immediate horizon. That said, investors will likely also be navigating potential portfolio risks including ballooning budget deficits, inflationary pressures and market corrections amid already high equity valuations. In its 2021 outlook report, the World Gold Council… Read More Here