COMEX Gold prices experienced a significant downturn, marking their most substantial weekly loss in months. The yellow metal slid below the critical $1,900 per troy ounce threshold, primarily in response to a sharp surge in US treasury yields. This surge in yields elevated the opportunity cost of holding gold. At its September policy meeting, the … Read more
COMEX Gold prices started the week on a negative note as mixed data from the US coupled with weak economic data from the European peers bolstered the greenback. US Services activity slowed more than forecast in July, however, manufacturing activity rebounded to a three-month high. At the same time, European and UK Services activity eased … Read more
COMEX Gold prices started the week on a negative note, plunging almost 2.5% in the first two days. The yellow metal approached an eleven-week low of $1,810.8 per troy ounce notched in the previous week, as Fed chair Jerome Powell unveiled a hawkish tilt. During the congressional testimony, Fed chair Jerome Powell said that the … Read more