Gold futures traded lower on Wednesday (Dec. 14) before investors knew the outcome of the Federal Reserve’s (Fed) monetary policy meeting, with the New York gold market closed ahead of the Fed’s decision. Shortly after the gold market closed, the Federal Reserve unanimously raised short-term interest rates by 0.50% to a range of 4.25-4.50%, the […]
Gold fell $6.8 ahead of Fed rate announcement Read More »
Gold futures closed higher on Tuesday (Dec. 13) after lower-than-expected inflation in the U.S., leading investors to expect the Federal Reserve (Fed) to raise interest rates at a slower pace. The weakening of the dollar index is another factor supporting the gold market. The U.S. Bureau of Labor Statistics reported that the Consumer Price Index
Gold closes up $33.2 on weak dollar and lower-than-expected U.S. inflation numbers Read More »
Gold futures closed lower on Monday (Dec. 12) as dollar strength pressured the gold market. Investors today will keep an eye on the release of U.S. inflation data and the outcome of the Federal Reserve’s monetary policy meeting on Wednesday. Gold futures are being pressured by the strength of the dollar. The dollar index against
Gold futures closed higher on Friday (Dec. 9) despite a stronger dollar and rising U.S. Treasury yields. Investors will keep an eye on the Federal Reserve’s monetary policy meeting and the release of the Consumer Price Index (CPI) next week. The Fed will hold its monetary policy meeting on December 13-14, the last meeting of
The People’s Bank of China announced Wednesday (Dec. 7) that it has purchased an additional 32 tons of gold reserves for the first time since September 2019, at a cost of $1.8 billion. With this latest gold purchase, the Chinese central bank’s gold reserves rose to 1,980 tons worth $112 billion. China officially has the
China’s central bank buys 32 tons of gold driving up gold price Read More »
Gold futures closed higher on Thursday (Dec. 8), supported by a weak dollar. Investors are watching the release of U.S. inflation figures and the Federal Reserve (Fed) monetary policy meeting next week. The dollar index was 0.31% lower against a basket of six major currencies at 104.7760, which supported gold prices. The depreciation of the
Gold closes up $3.5 and benefits from weaker dollar Read More »
Gold futures closed higher on Wednesday (Dec. 7), supported by a weak dollar and falling U.S. Treasury yields. Sentiment was also supported by expectations that the Federal Reserve (Fed) will delay a rate hike at its meeting. The dollar index was 0.45% lower against a basket of six major currencies at 105.1000, while the yield
Gold closes $15.6 higher on weaker dollar and falling U.S. Treasury yields Read More »
Gold futures closed higher on Tuesday (Dec. 6), helped by a drop in U.S. Treasury yields. However, gold futures gained only marginally and remained below $1,800 due to the rise in the dollar index. Gold contracts rally after 10-year U.S. Treasury bond yields fell to 3.561% overnight, a drop in bond yields will reduce the
Falling U.S. Treasuries push gold higher, but rising dollar halts momentum Read More »
Gold futures fell below $1,800 on Monday (Dec. 5) on the back of a strong dollar and a rise in U.S. Treasury bond yields. This was compounded by expectations that the U.S. Federal Reserve (Fed) will continue to aggressively raise interest rates after the U.S. released a stronger-than-expected services sector index. The dollar index was
Gold closes $28.3 lower after U.S. service sector remains strong Read More »
The gold price was almost unchanged in Asia on Monday, defying the negative factors from Friday, when the U.S. nonfarm payrolls data came in better than expected. The spot price of gold rose slightly by 0.15% to $ 1,801.00 per ounce. The better-than-expected nonfarm payroll data will influence the Federal Reserve’s interest rate decision ahead