Blog posts tagged with 'gold'

While the gold and silver are trading higher this morning from a weaker dollar, both markets enter this week's trade without an unwavering bullish fundamental force.

However, at the end of last week gold at times showed signs of flight to quality buying interest off increased global economic uncertainty and that could extend into the new trading week.

In fact, global growth was revised downward by two separate entities while a senior Chinese economic official has indicated China must act quickly to support its recovery...[MORE]

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June 26 (Reuters) - Gold climbed on Monday as geopolitical concerns surrounding Russia drew some investors into the safe haven metal, outweighing pressure from a hawkish interest rate outlook.

Spot gold rose 0.6% to $1,932.19 per ounce by 1116 GMT, while gold futures were up 0.7% to $1,942.30...[LINK]

Good morning. The precious metals are higher in early U.S. trading.

U.S. calendar features  Dallas Fed Index.

June 23 (Reuters) -Gold prices were en route to their worst week since early February on Friday as the dollar strengthened after U.S. Federal Reserve Chief Jerome Powell reiterated that more interest rate hikes were in the offing.

Spot gold was up 0.3% at $1,919.06 per ounce by 1130 GMT, yet stayed close to a three-month low hit earlier in the session. Prices are down 1.9% for the week...[LINK]

Good morning. The precious metals are higher in early U.S. trading.

U.S. calendar features Flash PMIs.

FedSpeak due from Bullard, Williams & Mester.

While the ebb and flow of action in the US #dollar has been buffeting the #gold and #silver trade this week, minimal weakness in the dollar this morning has not provided visible support.

Clearly, reiterated hawkish commentary from the US Federal Reserve Chairman to a US congressional committee prompted the initial washout in gold prices yesterday.

We should note that the Fed chairman yesterday indicated the Fed was sticking with its 2% inflation target which probably increases the likelihood of more than two 25 basis point rate hikes this year...[MORE]

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June 22 (Reuters) - Gold fell on Thursday to hold close to a three-month low hit a day earlier after U.S. Federal Reserve Chair Jerome Powell reiterated that more interest rate hikes were likely to tame inflation.

Spot gold was down 0.3% to $1,927.38 per ounce by 1040 GMT, a day after having hitting its lowest since March 17. U.S. gold futures fell 0.4% to $1,937.60...[LINK]

Good morning. The precious metals are lower in early U.S. trading.

U.S. calendar features Current Account, Initial Jobless Claims, Chicago Fed Index, Leading Indicators, Existing Home Sales, EIA Data.

FedSpeak due from Powell, Bowman, Mester, & Barkin.

June 21 (Reuters) - Gold prices edged lower on the dollar’s uptick on Wednesday as investors watched for interest rate cues from U.S. Federal Reserve Chair Jerome Powell’s congressional testimony.

Spot gold fell 0.2% to $1,932.86 per ounce, trading in an $8 range as of 0915 GMT. U.S. gold futures were also down 0.2% to $1,944.20...[LINK]

Good morning. The precious metals are lower in early U.S. trading.

U.S. calendar features #FedSpeak from Powell & Goolsbee.