Gold futures closed higher on Friday (Sept. 9), supported by a weakening U.S. dollar from a 20-year high and an appreciation of the euro. Gold contracts gain buying momentum after the dollar falls. A weakening dollar makes gold contracts less expensive for holders of other currencies. The dollar index against the six major currencies in […]
Gold closes $8.4 higher on falling dollar Read More »
Gold futures closed lower on Thursday (Sept. 8) after Federal Reserve Chairman Jerome Powell confirmed that the U.S. central bank would continue to seriously curb inflation and signaled that interest rate cuts would still not come soon. Powell gave a speech to the Cato Institute late last night in which he stated that the Fed
Gold closes in the red after Powell insists on continuing to curb inflation Read More »
Gold futures closed higher Wednesday (Sept. 7) on a weaker dollar and a drop in U.S. Treasury bond yields. Concerns about a global recession also prompted investors to buy gold as a safe haven. The dollar index against the six major currencies in a basket of currencies fell 0.34% to 109.8400, while the yield on
Gold closes higher on falling dollar and slowing Chinese exports Read More »
Gold futures closed lower on Tuesday (Sept. 6) as markets were pressured by a strong dollar and a rise in U.S. Treasury bond yields. This was compounded by concerns that the U.S. Federal Reserve (Fed) will continue to raise interest rates. The dollar index rose 0.35% against the six major currencies in a basket of
Gold futures closed higher on Friday (Sept. 2), with the weaker U.S. dollar boosting gold futures. This makes gold contracts less expensive for holders of other currencies. The decline in U.S. treasury bond yields and disappointing U.S. economic data also boosted gold futures. This week, however, gold futures continued to weaken. A weakening dollar will
Gold closed up $13.3 – U.S. economic data and weak dollar support market Read More »
Gold futures closed lower for the fifth straight day on Thursday (Sept. 1), with markets pressured by a strong dollar and rising bond yields. In addition, the U.S. Federal Reserve (Fed) is expected to raise interest rates at an accelerated pace to curb inflation. The dollar index rose 0.92% against the six major currencies in
Gold futures fell for a fourth straight day Wednesday (Aug. 31) as investors remain concerned that the Federal Reserve will raise interest rates to curb inflation. Gold futures fell $10.1, or 0.58%, to $1,726.2 an ounce. The price of gold fell 3.1% in August. Silver was down 40.5 cents, or 2.21%, at $17.882 an ounce.
Gold falls below $1,730 on expected Fed rate hike Read More »
Gold futures closed lower on Tuesday (Aug. 30), with markets pressured by concerns that strong U.S. economic data could prompt the Federal Reserve (Fed) to raise interest rates more quickly. The gold futures fell $13.4, or 0.77%, at $1,736.3 an ounce. Silver was down 38.3 cents, or 2.05%, at $18.287 an ounce. The platinum contract
Gold closes lower on concerns that strong economic data will support Fed rate hike Read More »
Gold futures closed slightly weaker on Monday (Aug. 29) as rising U.S. Treasury yields pressured markets. The gold contract was down 10 cents, or 0.01%, at $1,749.70 an ounce. Silver was down 15.5 cents, or 0.82%, at $18.67 an ounce. The platinum contract was down $1, or 0.12%, at $854.3 per ounce. The palladium contract
Gold closed lower on rising U.S. treasury yields Read More »
Gold futures fell more than 1% on Friday (Aug. 26) after Federal Reserve Chairman Jerome Powell said in a speech at Jackson Hole that the Fed needs to keep raising interest rates until inflation can be controlled. Gold fell $21.6, or 1.22%, to $1,749.8 an ounce to close up 0.7% for the week. Silver was
Gold closes lower after Powell is insisting on raising interest rates Read More »