Gold prices down 4.4% as investors fear Fed cuts assets

Gold prices fell as much as 4.4% to their lowest level in four months earlier. Gold futures fell 1.19% to $1,742.10, fitting $1,684.37.

A strong U.S. jobs report has led investors to fear the Fed will raise interest rates and begin cutting assets faster than expected, with investors awaiting more data, including the core consumer price index (Core CPI).

In Asia, China released its consumer price index, up 1% year-on-year and 0.3% month-on-month, while the Producer Price Index (PPI) rose 9% in July.

At the same time, gold prices in India are starting to improve. It reversed last week for the first time in a month, but trading was still sluggish.

Other precious metals:

Silver fell 2.6% at $23.70 after falling 7.5 % an eight-month low of $22.50 an ounce

Platnum fell 1.5%.

Palladium increased by 0.2%.

Source: https://www.investing.com/news/

The Spot Market is Open

Tue 10 Aug- 2021

Metals

Updated at
USD

Bid/Ask
Ounce

Change


Low/High
Gold
07.00
1,732.00
1,733.00
+2,40
0.14%
1,728.60
1,733.90
Silver
07.00
23.45
23.56
+0.03
0.13%
23.42
23.59
Platinum
07.00
977.00
987.00
+2.00
0.21%
972.00
986.00
Palladium
07.00
2,538.00
2,688.00
+1.00
0.04%
2,534.00
2,692.00
Rhodium
05.00
18,200.00
20,200.00
0.00
0.00%
18,200.00
20,200.00
Energy

Updated at


Price


Change


%Change
Crude oil
07.00
66.86
+0.38
0.57%
Source: https://www.kitco.com/

Leave a Reply

Change Language
%d bloggers like this: