Dollar

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Gold Slips 1.5% as Dollar Strengthens Post Robust Employment Data

On Friday (Dec. 8), gold futures faced a downward trend, experiencing a 1.56% decline and closing at $2,014.50 per ounce, reflecting pressure from a strengthening dollar and rising US bond yields. The surge in the dollar’s value emerged as traders adjusted their expectations, scaling back anticipations of a US interest rate cut in March next …

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Chinese Banks Actively Sell Dollars for Second Consecutive Day to Bolster Yuan’s Value

As per information from three credible sources, major Chinese state-owned commercial banks engaged in the sale of US dollars within the domestic spot foreign exchange market for a second consecutive day today (Dec. 6). This concerted effort aims to prop up the value of the Chinese Yuan amid mounting pressure on its stability. The Yuan …

Chinese Banks Actively Sell Dollars for Second Consecutive Day to Bolster Yuan’s Value Read More »

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Gold Slips by $5.90 Amid Dollar’s Strength, Investors Await Jobs Data

Gold futures sustained a second consecutive day of losses on Tuesday (Dec. 5) as the market grappled with the impact of a bolstered dollar. Simultaneously, investor focus remained fixed on the imminent release of the United States’ non-agricultural employment figures, pivotal in shaping both labor market trends and the Federal Reserve’s (Fed) potential interest rate …

Gold Slips by $5.90 Amid Dollar’s Strength, Investors Await Jobs Data Read More »

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Gold Closes Higher at $2,089.70 on Weakening Dollar Following Powell’s Comments

Gold futures surged on Friday (Dec. 1) as the dollar’s decline bolstered the appeal of the precious metal. The pricing of gold contracts in dollars made it an attractive investment for holders of other currencies amid the greenback’s depreciation. The climb was attributed to statements from Mr. Jerome Powell, Chairman of the Federal Reserve (Fed), …

Gold Closes Higher at $2,089.70 on Weakening Dollar Following Powell’s Comments Read More »

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Gold Slips to $2,057.20/Ounce as Strengthening Dollar Deters Buying Pressure

Gold futures experienced a downturn on Thursday, culminating in a lower closure at $2,057.20 per ounce, a dip of $9.90 or 0.48%. The prevailing strength of the dollar was identified as the primary factor impacting the market sentiment. The day saw fluctuations across various precious metals: The mounting value of the dollar, exemplified by a …

Gold Slips to $2,057.20/Ounce as Strengthening Dollar Deters Buying Pressure Read More »

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New Zealand Dollar Surges 1% as Reserve Bank Holds Rates, Hints at Future Hike

The New Zealand dollar experienced a significant surge of 1%, nearly reaching the $0.62 mark, following the Reserve Bank of New Zealand’s (RBNZ) decision to maintain its policy interest rate at 5.5%. The central bank also issued warnings of potential upcoming rate hikes aimed at curbing inflationary pressures. This announcement prompted a robust upswing in …

New Zealand Dollar Surges 1% as Reserve Bank Holds Rates, Hints at Future Hike Read More »

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Gold Surges to $2,060.20 as Dollar Weakens; Fed Hints at Halting Interest Rate Hikes

In a robust Tuesday session (Nov. 28), gold futures soared, buoyed by a softening dollar and mounting anticipation that the Federal Reserve (Fed) could halt its ongoing spree of interest rate hikes. Closing the day’s trading, gold futures surged by $27.20, marking a 1.34% increase to settle at $2,060.20 per ounce. Simultaneously, silver futures observed …

Gold Surges to $2,060.20 as Dollar Weakens; Fed Hints at Halting Interest Rate Hikes Read More »