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Showing posts with the label Gold Price Report

Gold Price Report ( Morning Edition): Gold Halts a rebound of a 9 months for an elevated U.S. Yields

  cnbc.com Gold retreats on elevated U.S. yields, strong dollar Reuters 2-3 minutes Gold prices retreated on Monday, halting a rebound from a nine-month low touched last week, as the dollar firmed, while U.S. treasury yields remained elevated, denting bullion's appeal. Spot gold was down 0.6% to $1,691.27 per ounce, after hitting its lowest since June 8 at $1,686.40 on Friday. U.S. gold futures declined 0.7% to $1,686.10. The dollar climbed to a three-month peak, while U.S. 10-year Treasury yields held close to a more than one-year high, increasing the opportunity cost of holding gold, which pays no interest. While gold is being kept in check by the high yields and the dollar, "we see gold behaving like a tsunami, the water is going away at the moment due to severe pressure, but prices will come back with even more strength once these factors are gone", said Commerzbank analyst Daniel

Gold Price Report (Morning Edition): Gold Slips due to bond yields and equities resuming its appeal on Wednesday 3, March 2021.

  cnbc.com Gold slips as U.S. bond yields and equities dull its appeal Reuters 2-3 minutes Gold prices fell on Wednesday as U.S. Treasury yields resumed their advance and global equities also firmed, reducing the appeal of safe-haven bullion. Spot gold fell 0.8% to $1,725.00 per ounce, having dropped to its lowest since June 15 at $1,706.70 on Tuesday. U.S. gold futures were down 0.6% to $1,724.00. The main driver for gold remains U.S. 10 year Treasury yields, said analyst Xiao Fu at Bank of China International. "It seems like the broad equity market is stable, with a moderate risk-on sentiment, so that (also) diminishes safe-haven demand for gold," she added. Benchmark U.S. 10-year Treasury yields edged higher but remained short of a one-year peak reached last week, while global equities and U.S. dollar gained. Though gold is seen as an hedge against rising inflation, higher yields have threatened that

Gold Price Report (Morning Edition): Gold is Set for a Second Monthly Dip on Friday 26, November 2021.

  cnbc.com Gold set for second monthly dip as high U.S. yields erode appeal Reuters 2-3 minutes A worker tends to gold bars at a precious metals plant. Gold slipped on Friday and was headed for its second straight monthly decline, as U.S. Treasury yields held near a more than one-year high, eroding bullion's safe haven status. Spot gold fell 0.3% to $1,765.06 per ounce. U.S. gold futures dropped 0.7% to $1,762.50. "The main factor weighing on gold is the surge in bond yields, which makes gold less attractive because it doesn't pay any interest," said Commerzbank analyst Carsten Fritsch. Bullion had dropped 1.9% on Thursday and was down 4.4% for the month so far. The benchmark U.S. 10-year Treasury yields on Friday were hovering near an over one-year high scaled in the previous session. While gold often benefits from expectations for more stimulus measures, given its status as an inflati

Commodities | Gold | Gold Price Report: Gold erases losses as US-China trade hopes ebb

2-3 minutos - Source: CNBC Canadian maple leafs sit on the faces of one ounce gold coins in London, the United Kingdom, on July 15, 2014. Chris Ratcliffe | Bloomberg | Getty Images Gold firmed on Monday, erasing losses from earlier in the session as fresh doubts over a U.S.-China trade deal pushed Wall Street into the red. Spot gold  was up 0.29% at $1,471.4 per ounce as of, reversing course from earlier when prices fell to as low as $1,455.82 on optimism that constructive trade talks had taken place between the world’s two largest economies over the weekend. U.S. gold futures  settled up 0.22% to $1471.9 per ounce. However, a report that Beijing was not as optimistic, owing to U.S. President Donald Trump’s reluctance to roll back tariffs, threw cold water over market cheer and on world shares that were near record levels. “I am surprised how robustly the market reacts (to news on the trade talks). This isn’t the first time we have h

Commodities | Gold | Gold Price Report on October 31, 2019: Gold gains as dollar weakens after Fed's interest rate cut

3minutos - Source: CNBC Gold bars on display in Tokyo on September 27, 2010. Yoshikazu Tsuno | AFP | Getty Images Gold prices climbed on Thursday as the U.S. dollar weakened after the Federal Reserve cut interest rates for the third time this year, but signaled the monetary-easing cycle would be paused. Hopes that the United States and China will sign a preliminary agreement and call a truce to their 16-month trade war was also a factor behind the Fed’s decision to signal that further rate cuts are on hold. Spot gold was up 0.77% at $1,506.2 per ounce. Prices have risen nearly 2% this month.  U.S. gold futures rose 0.82% to $1,508.9 per ounce. “We took this step to help keep the economy strong in the face of global developments and to provide some insurance against ongoing risks,” Fed Chair Jerome Powell said. Powell ticked off an extensive list of reasons why he feels the economy is doing well, and likely to continue to do so unde

Commodities | Gold | Gold Price Report: Gold firms, eyes US-China ties; palladium bolts to record

3minutos - Source: CNBC One kilogram gold bars are displayed for a photograph at the YLG Bullion International headquarters in Thailand on January 13, 2016. Dario Pignatelli | Bloomberg | Getty Images Gold rose on Wednesday on concerns that Washington’s stance on Hong Kong could hamper trade negotiations with Beijing and as investors awaited a key Brexit summit, but bullion’s gains were dwarfed by deficit-hit palladium as it smashed new records. Spot gold rose 0.2% to $1,483.53 per ounce. U.S. gold futures were up 0.3% at $1,487.20. In a move that soured ties between the United States and China on Tuesday, the U.S. House of Representatives passed four pieces of legislation taking a hard line on Beijing, three related to pro-democracy protests in Hong Kong, drawing opposition from China. “A lot of people think this (U.S. legislation on Hong Kong) is going to hinder the negotiations with the tariffs (between U.S.-China), so again, wh

Futures & Commodities | Gold | Gold Price Report: Gold dips 1% as investors opt for dollar amid Trump probe

3 minutes - Source: CNBC One kilogram gold bars are displayed for a photograph at the YLG Bullion International headquarters in Thailand on January 13, 2016. Dario Pignatelli | Bloomberg | Getty Images Gold slid 1% on Wednesday, retreating from a multi-week peak, as political uncertainties in the United States stemming from an impeachment inquiry into President Donald Trump drove investors to the safety of the dollar, limiting bullion’s appeal. Spot gold fell 1.2% to $1,513.75 per ounce. On Tuesday, prices hit their highest since Sept. 5 at $1,535.60. U.S. gold futures were down 1.3% at $1,520.70. The dollar index hit a two-week high on safe haven interest amongst investors looking to hedge against risks emanating from the inquiry into Trump accusing him of seeking foreign help to smear Democratic rival Joe Biden ahead of next year’s election, in turn limiting the appeal of the traditional haven, gold. “It (gold’s pullback) started

Futures & Commodities I Gold I I Gold Price Report Gold, silver eye best month in over 3 years

3 minutes - Source: CNBC Gold and silver were poised for their best month in more than three years as fears of a global recession and uncertainty on U.S.-China trade relations drove investors to safe havens, although a slight recovery in equities curbed gains on Friday. Spot gold rose 0.1% to $1,529.17 per ounce, but has gained nearly 8% so far this month, which would be its biggest monthly gain since June 2016. U.S. gold futures rose 0.1% to $1,538.30. The market is awaiting news on the trade front, said Suki Cooper, precious metals analyst at Standard Chartered Bank. “At the moment, the gold market is focused on impact in terms of global growth and whether we’ll continue to see central banks around the world easing monetary policy,” Cooper added. Chinese and U.S. trade negotiating teams are maintaining effective communication, a day after both sides discussed the next round of in-person negotiations in September, China’s foreign min

Futures & Commodities | Gold Price Report: Gold eases as investors book profits, dollar firms

3 minutes A worker holds a gold bar in the Austrian Mint (Muenze Oesterreich) headquarters in Vienna. Leonhard Foeger | Reuters Gold eased on Wednesday on a stronger dollar and as investors locked profits following the more than 1% jump in the last session, but uncertainty over U.S.-China trade and the global economy kept safe-haven bullion near a multi-year peak. Spot gold fell 0.4% to $1,536.83 per ounce. On Monday it touched $1,554.56, its highest since April 2013. U.S. gold futures fell $2.70 to settle at $1,549.10 per ounce. “We aren’t seeing any additional tensions. A lot of the news - the trade war and economic concerns - has been factored in by the market over the last few days,” said David Meger, director of metals trading at High Ridge Futures, adding profit-taking following the rally in response to a firmer dollar was weighing on gold. The dollar rose 0.2%, making gold more expensive for holders of other currencies, while U.S. stock markets

Futures & Commodities I Gold I Gold Price Report: Gold gains on trade concerns, silver breaches $18/oz mark

3-4 minutes - Source: CNBC A woman checks products in a gold and jewelery store in Corum, Turkey. Umit Bektas | Reuters Gold rose on Tuesday as investors sought cover from global uncertainties including the U.S.-China trade dispute, while silver latched on to bullion’s rally to breach the $18 an ounce mark for the first time in nearly two years. Spot gold rose 1.1% to $1,542.7 per ounce. However, gold prices shed nearly $30 from a high of $1,554.56 it hit on Monday, a level last seen in April 2013, after U.S. President Donald Trump said negotiations with China on the long-drawn tariff war have resumed. U.S. gold futures for December delivery rose 1% to $1,552.7. While Trump’s comments that China had offered to resume trade talks assuaged some concerns in the wider financial markets, uncertainty prevailed as Beijing declined to confirm the assertion. “We continue to have concerns about the global economy. The U.S. President’s deal

Futures & Commodities | Golds | Gold Price Report: Gold scales over 6-year peak on heightened trade, economic risks

3-4 minutes - Source: CNBC Gold surged to a more than six-year peak on Monday, surpassing $1,550 in early trade, as investors sought safety from a host of uncertainties including heightened U.S.-China trade tensions and a fragile global economy. Spot gold rose 0.6% to $1,534.44 per ounce, paring gains to shed more than $20 from earlier in the session when the metal had jumped to its highest since April 2013 at $1,554.56.  U.S. gold futures for December delivery gained 0.5% to $1,544.50. Meanwhile, gold in euro and Australian dollar hit record levels. “There’s a great deal of uncertainty and instability in the global financial markets and economies. And in that kind of environment, investors are bouncing around so they are buying into gold and buying out of gold,” said Jeffrey Christian, managing partner of CPM Group. Washington announced last week an 5% additional duty on $550 billion in targeted Chinese goods, hours after China unve

Futures & Commodities | Gold | Gold Price Report: Gold slips as equities gain; investors eye Fed minutes

3 minutes - Source: CNBC Gold edged lower on Wednesday as equities gained and investors awaited minutes from the U.S. Federal Reserve’s July meeting for clues on future interest rate cuts. Spot gold was down 0.3% at $1,502.96 per ounce, while U.S. gold futures fell 0.2% to $1,513. ”(Market participants) are just being cautious ahead of the FOMC minutes; they’re just taking gold off,” said Phillip Streible, senior commodities strategist at RJO Futures. “There seem to be spouts of optimism as far as the trade deal and the economy go, and these glimmers of hope are driving a rally in equities and people are jumping out of safety to take on risk through equities.” President Donald Trump on Wednesday said the United States is “doing great with China and other trade deals,” while pressuring the Fed to lower interest rates, saying its policies were hampering U.S. growth and reducing the country’s ability to compete economically. Minutes fr

Futures & Commodities | Gold | Gold Price Report: Gold firms above $1,500 as bond yields dip on stimulus hopes

3 minutes - Source: CNBC Gold rose on Tuesday to above $1,500, recovering from a more than 1% slide in the previous session, as U.S. yields fell on increasing expectations for looser monetary policy to address fears of a global downturn. Spot gold was up 0.5% at $1,502.41 per ounce, after falling to a near one-week low of $1,492.10 on Monday. U.S. gold futures rose 0.1% to $1,512.50. Monday’s correction followed a sharp price rally earlier this month that took gold to six-year highs, largely on the back of U.S.-China trade war concerns, expectations for further cuts in U.S. interest rates and as the U.S. yield curve inverted for the first time since 2007. “The yield curve inverting has spooked investors in the U.S.,” said Bob Haberkorn, senior market strategist at RJO Futures, adding “People are kind of looking to buy dips ahead of the Federal Reserve’s minutes coming out and what news will come out at Jackson Hole.” Investors will cl

Gold | Gold Price Report | Gold sheds 2% on signs of US-China trade thaw

2-3 minutes - Source CNBC Gold bullion bars and coins. Getty Images Gold fell 2% on Tuesday, reversing course from earlier in the session when it scaled a six-year peak, after the United States said it would delay tariffs on some Chinese products and on news that both sides agreed to continue trade talks. Spot gold was down 0.7% at $1,501.36 per ounce, having earlier hit its highest level since April 2013 at $1,534.31.  U.S. gold futures were down 0.3% to $1,512.6 an ounce. The Office of the U.S. Trade Representative said the Trump administration will delay 10% tariffs on certain Chinese products, including laptops and cell phones, that had been scheduled to start next month. “A thawing, perhaps reconsideration of the new proposed tariffs has drained the heat from the (gold) rally for now,” said Tai Wong, head of base and precious metals derivatives trading at BMO. “While this does not dramatically dim the overall positive outlook for gold, it will

Gold Price Report on Wednesday 31, 2019 I Gold heads for third monthly gain but dips after Fed cuts interest rates

2-3 minutes Gold bars at the Austrian Gold and Silver Separating Plant in Vienna, Austria. Leonhard Foeger | Reuters Gold prices fell on Wednesday but were still heading for a third straight monthly gain. The precious metal extended the day's losses slightly after the Federal Reserve voted to cut interest rates by a quarter point for the first time in over a decade, a highly-anticipated but widely-expected move. Spot gold fell as much as 1% following the Fed's decision but quickly recovered most of the loss, down just 0.3% at $1,426.31 an ounce. U.S. gold futures were down 0.4% at $1431.30 an ounce. Investors were expecting an interest rate cut by the Fed, as well as by other leading central banks, which would cut the opportunity cost of holding non-yielding gold. The expectation has the precious metal on track for a 1.5% gain for July. "The metal looks strong for now. In the recent time it has been supported by falling governme

Metals I Gold I Gold Price Report I Gold prices surge to more than five-year high after dovish Fed opens door for rate cut.

Eustance Huang, Maggie Fitzgerald 4 minutes An employee arranges one kilogram gold bars at the Perth Mint Refinery in Perth, Australia, on Aug. 9, 2018. Carla Gottgens | Bloomberg | Getty Images Gold hit a five-year high on Thursday after a dovish U.S Federal Reserve opened the door to further rate cuts, pressuring U.S. Treasury yields and the dollar . Spot gold prices surged to levels not seen in more than 5 years. The commodity is currently trading 2.2% higher at around $1,389.8 per ounce. Gold futures also saw strong gains, rising 3.3% to $1,394.2 per ounce. Following the Fed meeting on Wednesday, where the U.S. central bank left interest rates unchanged but opened the door for a possible rate cut in the future , the 10-year Treasury yield fell below 2% for the first time since November 2016, breaching an important psychological level. One economist told CNBC that the surge in gold prices were likely driven by the declin

Futures & Commodities I Gold I Gold Price Report on Tuesday 18, 2019 I Gold pares gains on US-China trade war optimism

3 minutes Gold will continue to shine amid a weak dollar, says author and gold pro Jim Rickards. Simon Dawson | Bloomberg | Getty Images Gold prices pared gains on Tuesday after U.S. President Donald Trump confirmed he would meet with Chinese President Xi Jinping at an international summit, fanning hopes that an end to the U.S.-China trade dispute could be nearing. Earlier in the session, gold prices had briefly surged to 1% after central banks in Europe and the United States hinted at monetary easing. Spot gold gained 0.2% to $1,342.15 per ounce by 10:44 a.m. EDT (1444 GMT). Prices had risen to $1,354.20 earlier, before Trump said in a tweet he had a “very good telephone conversation” with China’s Xi. The two leaders will meet at the G20 meet later this month in Japan, where the discussions will focus on trade in the midst of a bitter tariff spat, that has upset global markets since its conception a year ago. U.S. gold futures se

Latest on Futures & Commodities I Gold I Gold prices rise 1% as dollar pulls back from 2-year high

Tom DiChristopher 2-3 minutes Gold bars at the Austrian Gold and Silver Separating Plant in Vienna, Austria. Leonhard Foeger | Reuters Gold prices jumped 1 percent on Thursday as the U.S. dollar pulled back from a two-year peak scaled earlier in the session and as global equities slid on the escalating Sino-U.S. trade tensions. Spot gold climbed 1 percent to $1,285.63 per ounce by 11:21 am EDT (1522 GMT), after falling to its lowest since May 3 on Tuesday at $1,268.97. U.S. gold futures rose 0.9 percent to $1,285.50 an ounce. “We have seen a sharp reversal in the dollar and that has helped buoy gold prices,” said Suki Cooper, precious metals analyst at Standard Chartered Bank. The dollar index, which earlier in the session touched its highest level in two years at 98.371, gave back some gains after the release of U.S. weekly jobless data. “After the U.S. Federal Reserve said it would remain patient the market has ta

Gold | Gold Price Report on Tuesday 30, April 2019 | Gold edges up as weak Chinese data dampens risk sentiment

Sam Meredith 3 minutes Gold prices edged up on Tuesday as disappointing Chinese factory activity data brought back concerns about the health of the global economy, denting risk appetite. Spot gold rose 0.4 percent to $1,285 per ounce. U.S. gold futures were up 0.4 percent at $1,286.20 an ounce. “The weaker Chinese PMI is a supportive element and aiding gold. Also, from a technical point of view, we have seen a rebound from $1,280, which is a good support level,” said Carlo Alberto De Casa, chief analyst with ActivTrades, adding that a weaker dollar was also helping gold. ”(I) don’t see much room for decline in prices from here and only the strength of the U.S. dollar can hurt gold.” European equity markets nudged down on Tuesday, following weaker Asian stock markets as the latest Chinese data pointed to some fragility in the world’s second-largest economy despite Beijing’s attempts to spur growth. Gold is generally used by

Gold Price Report on April 25, 2019 | Gold firms as weak data puts focus back on growth risks

Jeff Daniels 2-3 minutes Gold inched higher on Thursday as weak economic data rekindled fears over global growth, while bullion’s recovery from four-month lows and an improved technical picture prompted some investors to cover their short positions. Spot gold was up 0.1 percent at $1,276.43 per ounce. U.S. gold futures settled $0.30 higher at $1,279.70. World equity markets slipped as a surprise deterioration in German and South Korean economic data brought back to the fore concerns about a global downturn. “The correction in (stock) markets has provided some support for gold. But the (gold) market is still looking for catalysts for a significant move and there is not much momentum in either direction,” Capital Economics analyst Ross Strachan said. “Gold is awaiting bigger developments. We’ve got U.S. GDP and that’s expected to have a significant impact on the dollar.” U.S. gross domestic product data will be released on Fri