Gold’s price surge surpasses oil and copper, attracting central bank purchases in emerging markets. Unlike fiat currencies, its limited supply protects against inflation and currency devaluation, ensuring stability and financial stability. Gold also lacks credit or counterparty risk. Geopolitical factors drive gold demand, with 81% of central banks expecting global gold reserves to increase, and…
Oil prices halted their recent surge, resembling a 7% increase in the previous three sessions, due to supply concerns and concerns over a Middle East conflict and Libyan oil field shutdown. Brent crude futures fell 32 cents, or 0.39%, to $81.11 a barrel, while U.S. West Texas Intermediate crude futures fell 36 cents, or 0.46%,…
As the dollar and Treasury rates declined in response to remarks made by the chair of the Federal Reserve that suggested an interest rate cut in September, gold prices increased by more than 1% on Friday. Although it was down from Tuesday’s record high of $2,531.60, spot gold increased 1.2% to $2,512.63 per ounce. US…
As the prospect of lower U.S. interest rates hurt the dollar and encouraged more flows into the yellow metal, gold prices steadied in Asian trade on Wednesday after reaching record highs this week. Both spot and December-expiring gold futures saw 0.1% and 0.1% increases, respectively, to $2,515.44 and $2,553.35 an ounce. At $2,531.72 an ounce…
Gold fell 0.45% to 71,256 yesterday after hawkish comments in the Federal Reserve’s most recent minutes dampened prospects of a U.S. interest rate drop. The policymakers’ heated discussion about whether the present rates are tight enough to curb inflation was evident in the minutes. Interest rate hikes in the future were discussed, even though it…
Due to a strong U.S. currency and a spike in Treasury yields, gold prices on the important London spot market fell to their lowest point in six months. Demand for U.S. assets grew as investors anticipated interest rates would rise for an extended period. In spite of the weaker Indian Rupee, domestic gold prices fell…
Oil prices increased on Tuesday amid expectations that the world’s largest oil consumer, the United States, will increase demand as a result of the debt ceiling agreement. Gains were restrained, however, by worries about future interest rate increases and the potential for OPEC+ to maintain current output quotas. Today morning, Brent crude futures had increased…
