Gold

The price of gold futures increased by 1% early this morning as investors sought safe-haven assets in light of concerns over the bankruptcy of Silicon Valley Bank (SVB), a US bank that lends to technology startups. The news of SVB’s closure and assignment to the Federal Deposit Insurance Corporation (FDIC) as the bank’s deposit custodian, …

Gold Futures Jump $18.70 as SVB Failure Stimulates Buying Safe-haven Assets Read More »

On Friday (Mar 10), gold futures closed higher, as buying pressure rose due to concerns about problems in the US banking sector following the closure of Silicon Valley Bank (SVB). Additionally, a weak dollar and lower bond yields after the release of slow employment data helped support the purchase of gold. The closure of SVB …

Gold closes $32.60 higher, banking concerns boost gold buying Read More »

Gold prices rose on Thursday (March 9) due to a weaker US dollar, as investors kept a close eye on the release of US nonfarm payrolls data. The decline of the dollar index, which was down 0.34% at 105.3021 overnight, supported the gains in gold futures. The US dollar weakened after the Labor Department reported …

Gold closes up $16, dollar weakens – eyes on US jobs Read More »

Gold futures closed lower on Wednesday (March 8), after Federal Reserve Chairman Jerome Powell addressed Congress on March 2, reiterating that the Fed will accelerate interest rate hikes to curb inflation. The aggressive stance on rate hikes caused concern among investors, leading to a decline in gold futures. Powell delivered his semi-annual monetary policy and …

Gold closes $1.40 lower amid aggressive Fed rate hike concerns Read More »

Gold futures closed at their lowest level in over a week on Tuesday, March 7th, after Federal Reserve Chairman Jerome Powell signaled an aggressive interest rate hike to pull inflation down to the Federal Reserve’s target level. The decline in gold contracts followed Powell’s semi-annual statement on US monetary policy and economic conditions to the …

Gold tumbles $34.60 after Powell signals aggressive interest rate hikes Read More »

Gold closed steady on Monday, March 6, as investors kept a close eye on Federal Reserve Chairman Jerome Powell’s statements ahead of his address to Congress this week. Powell is expected to give a biennial address to Congress on monetary policy and economic conditions this week, with scheduled appearances before the Senate Banking Committee on …

Gold closes steady as investors keep an eye on Powell’s statement Read More »

Gold futures closed higher on Friday (March 3), buoyed by a weak dollar and a decline in US government bond yields. The drop in US government bond yields reduced the opportunity cost of holding gold, which is an asset without interest. Meanwhile, the attractiveness of gold increased due to the weak dollar, making gold contracts …

Gold Closes Higher at $1,854.60 as Dollar Weakens, Bond Yields Slump Read More »

Gold futures closed down on Thursday (Mar. 2) as the strong dollar dragged the market, with gold contracts falling $4.90, or 0.27%, to $1,840.50/ounce. The dollar’s strength against a basket of six major currencies, up 0.52% to 105.0284 overnight, weighed on the gold market, making gold contracts priced in dollars more expensive for investors holding …

Gold closed down $4.90 as the strong dollar dragged the market Read More »