According to the latest Gold Demand Trends report from the World Gold Council, the demand for gold from various sources of buyers around the world has lifted overall demand for gold to 1,174 tonnes in Q1/23. This is a slight 1% increase compared to the same period last year, despite global gold demand (excluding over-the-counter …
Global demand for gold in Q1/23 pushes the price closer to the peak Read More »
Gold contracts closed lower on Wednesday due to profit-taking pressure as investors cashed out on gains made earlier in the day. The dip came after gold prices rose in response to the US Consumer Price Index (CPI) for April, which came in lower than expected year-on-year. Gold futures ended down $5.80, or 0.28%, at $2,037.10 …
Gold closed down $5.80 on profit taking pressure Read More »
On Tuesday (9 May), the gold contract closed higher for the second consecutive day, with investors flocking to the safe asset amidst concerns about the economic recession and the crisis in the US banking sector. The price of gold increased by $9.7 or 0.48%, closing at $2,042.90/ounce. Other precious metals also saw gains, with silver …
Gold Closes Higher amid Safe Asset Demand, Investors Keep Watch on US CPI Read More »
On May 8th, gold contracts closed higher as investors responded to the Federal Reserve’s (Fed) expectation to keep interest rates steady at its June payroll policy meeting. Gold futures rose $8.40, or 0.41%, to close at $2,033.20 per ounce, while silver futures were down 9.60 cents, or 0.37%, at $25.834 per ounce. The platinum contract …
Gold Closes $8.40 Higher as Fed Forecasts to Hold Interest Rates Next Month Read More »
On Friday (May 5), gold futures closed down by $30.90, or 1.50%, at $2,024.80 per ounce. The dip was attributed to the release of strong employment data in the US for April, which fueled fears that the Federal Reserve might increase interest rates, making gold investment less attractive. However, gold ended up 1.3% higher for …
Gold closes $30.90, strong employment data pressures prices Read More »
According to the World Gold Council (WGC), global gold demand fell by 13% to 1,081 tonnes in the first quarter of 2023, with jewelry producers accounting for the majority of demand. The WGC report revealed that gold demand in India, the second-largest consumer of the precious metal after China, fell by 17% to 112.5 tonnes, …
Gold futures continued their upward trend for the third consecutive day, closing higher on Thursday (May 4), as investors sought the safe-haven asset amid concerns over the banking crisis in the US banking sector. The price of gold rose by $18.70, or 0.92%, to close at $2,055.70/ounce, while silver futures rose 54.60 cents, or 2.13%, …
Gold prices rise $18.70 amid concerns over banking crisis and safe-haven demand Read More »
On Wednesday, May 3, gold futures closed higher for the second consecutive day, buoyed by concerns over economic conditions and banking issues, which drove safe-haven purchases of the precious metal. Gold futures rose by 0.68%, or $13.70, to close at $2,037 per ounce. Meanwhile, silver futures rose by 0.24%, or 6.20 cents, to close at …
Gold futures closed higher on Tuesday, May 2, reaching above $2,000, as concerns about the US banking crisis bolstered purchases of gold as a safe-haven asset. This marks the highest closing level since April 13, 2023. Silver futures also rose, closing up 1.54% at $25.619/ounce, while platinum futures rose 1.28% to $1,078.30/ounce. Palladium futures, however, …
Gold Closes Up $31.10 as Banking Crisis Drives Purchases of Safe-Haven Assets Read More »
On Monday, May 1, gold futures closed lower as the market was pressured by a strong dollar and expectations of continued interest rate hikes by the Federal Reserve (Fed) at this month’s meeting. Gold futures were down by $6.90, or 0.35%, at $1,992.20/ounce, marking the lowest closing level since April 21, 2023. Meanwhile, silver futures …
Gold Closes Lower on Strong Dollar and Fed Rate Hike Concerns Persist Read More »