Gold prices retreated on Thursday, as prospects for more U.S. interest rate hikes and a subdued outlook for global economic growth bolstered the dollar. Spot gold was down 0.3% at $1,653.79 per ounce, as of 0404 GMT, after rising about 2% in its biggest daily gain since March on Wednesday. U.S. gold futures slipped 0.5% Read More
Gold prices slipped on Wednesday, as the dollar resumed climb after Federal Reserve officials reiterated the U.S. central bank’s resolution to maintain an aggressive policy stance to tackle soaring inflation. Fundamentals Spot gold was down 0.3% at $1,624.81 per ounce, as of 0132 GMT. U.S. gold futures dipped 0.2% to $1,632.4. The dollar index was up 0.3%, edging closer to a Read More
Gold prices rose on Tuesday as the dollar’s rally paused, but prices held close to a 2½-year low on expectations of further policy tightening by the U.S. Federal Reserve in its efforts to quell soaring inflation. Spot gold gained 0.6% at $1,631.89 per ounce, as of 0103 GMT. Prices hit their lowest level since April 2020 at Read More
Oil prices fell on Friday as demand fears were stoked by rising interest rates and a stronger dollar, though losses were capped by Moscow’s mobilization campaign in its war with Ukraine and apparent deadlock in talks on reviving the Iran nuclear deal. Brent crude futures fell $2.81, or 3.11%, to $87.65 a barrel by 1051 GMT. Read More
Gold prices dropped more than 1% to their lowest since April 2020 on Friday as a cocktail of factors from a robust dollar and elevated U.S. bond yields to worries around more U.S. interest rate hikes diminished bullion’s appeal. Spot gold was down 1.7% at $1,642.79 per ounce by 1058 GMT and was heading for its Read More
Oil prices fell about 1% to a near two-week low in volatile trade on Wednesday after the U.S Federal Reserve delivered another hefty rate hike to quell inflation that could reduce economic activity and demand for oil. The Fed raised its target interest rate by 75 basis points for the third time to a 3.00-3.25% range and signalled more Read More
Gold rose on Wednesday after Russian President Vladimir Putin’s partial mobilization announcement re-ignited some safe-haven interest in bullion, although a strong dollar and expected U.S. rate hikes capped gains. Spot gold was up 0.6% at $1,673.19 per ounce. U.S. gold futures rose 0.6% to $1,681.70. Putin said he had signed a decree on partial mobilization Read More
Gold prices fell on Tuesday, weighed down by a firmer dollar and elevated U.S. bond yields, as the Federal Reserve gears up for a hefty rate hike to tame inflation pressures. Spot gold was down 0.4% at $1,669.80 per ounce, as of 0839 GMT. U.S. gold futures were flat at $1,678.20. “Gold is under pressure, Read More
Gold prices slipped on Monday as investors braced for aggressive rate hikes by major central banks this week, especially from the U.S. Federal Reserve, to tame high inflation. Spot gold was down 0.3% at $1,669.69 per ounce, as of 0310 GMT. U.S. gold futures fell 0.2% at $1,679.70. Gold is known as a safe investment amid inflation woes, Read More
Gold dropped to its lowest level since April 2020 on Thursday, hurt by elevated U.S. Treasury yields and a firm dollar, as bets of another hefty rate hike by the U.S. Federal Reserve eroded bullion’s appeal. Spot gold was last down 1.9% at $1,663.50 per ounce after falling more than 2% to $1,659.47 earlier in Read More
Gold prices steadied into a tight range on Tuesday as investors held off on large bets ahead of key U.S. inflation data that could influence the size of future Federal Reserve interest rate hikes. Spot gold was little changed at $1,727 per ounce. Prices hit a two-week high of $1,734.99 on Monday as the dollar Read More
Gold bounced back on Wednesday helped by the dollar’s slight retreat from a two-decade high and as bargain hunters took advantage of recent losses, but the precious metal’s outlook was still clouded by prospects of aggressive rate hikes. Spot gold rose 0.9% to $1,716.59 per ounce by 2:02 p.m. ET. U.S. gold futures settled 0.9% Read More
Gold prices briefly slid below the key $1,700 psychological level for the first time in six weeks on Thursday, as major central banks stuck to an aggressive stance to combat inflation, dulling demand for non-yielding bullion. Spot gold fell 0.7% to $1,699.10 per ounce, having touched its lowest since July. U.S. gold futures shed 0.9% Read More
