While the dollar weakened from a six-week high on Tuesday as traders awaited additional economic data to assess the U.S. Federal Reserve’s rate-hike policy, gold prices edged up on the global markets. At $1,843.23, spot gold was up 0.1 percent. At $1,851.80, U.S. gold futures rose 0.1 percent. On global markets, gold and silver came…
Due to the dollar’s resurgence against its rivals, precious metals have been sluggish during the last few weeks. On February 2, 2023, gold fell by about 5% from a peak of Rs 58,847 on the MCX to Rs 55,850. Comex Gold’s 6.48 percent decline from $1,960 to $1,833 had a more significant effect. According to…
As a stronger currency and concerns about further interest rate hikes by the U.S. Federal Reserve clouded the picture for non-yielding metal, gold prices fell on February 17 in the international markets and were expected to decline for the week. At $1,832.42 per ounce, spot gold prices were down 0.3%. This week, the price of…
On February 16, both in the international market and in India, gold was trading marginally higher from a five-week low. At 10.21 am, gold was trading 0.08 percent higher on the Multi Commodity Exchange (MCX) at Rs 56,170 for 10 grams, while silver was trading 0.44 percent higher at Rs 65,712 for a kilogram. Spot…
While investors anticipated this week’s U.S. inflation statistics for clues on the Federal Reserve’s interest rate hike path, gold prices inched lower on Monday in the international markets as the dollar strengthened. At $1,861.76 per ounce, spot gold was down 0.2 percent. The price of U.S. gold futures fell by 0.1 percent to $1,872.40. On…
As the dollar dropped on Tuesday and investors awaited US economic data in the expectation that the Federal Reserve would raise interest rates more gradually, gold prices moved up on the world markets. The yellow metal continued to experience an upsurge in the session after the previous week’s close, finishing with 0.25 percent gains. Investors…
On January 19, gold prices increased slightly in early Asian trading as investors assessed the likelihood that the US Federal Reserve will decrease the rate at which it raises interest rates. Gold’s spot price increased by 0.2% to $1,907.18 per ounce. To $1,909.40, US gold futures increased by 0.1 percent. Deveya Gaglani, Research Analyst –…
On Monday, gold prices increased and maintained a seven-month high as signs of a slowing jobs market raised hopes for a lower U.S. inflation reading this week and a future shift away from the Federal Reserve’s aggressive rhetoric. After Labor Department data revealed that U.S. nonfarm payrolls expanded at their weakest rate in a year…
As markets anticipated critical data on U.S. nonfarm payrolls on Friday, gold prices held near seven-month highs, while copper prices reversed weekly losses due to the relaxation of additional anti-COVID measures in major importer China. After a series of abrupt rate hikes by the Federal Reserve in 2022, it is anticipated that U.S. nonfarm payrolls…
A weaker dollar and increased prospects of future rate hikes that are less aggressive helped gold prices extend their new year surge and rise more than 1% to their highest level since mid-June. The price of spot gold increased by 1.2 percent to $1,860.64 per ounce, reaching its highest level since June 13. U.S. gold…
