COMEX gold prices are trading near a one-year high of $2014.9 per troy ounce notched in the previous week. The yellow metal started the week on a negative note, as the SNB brokered UBS buyout of Credit Suisse calmed markets and improved the risk sentiments. There were also reports that the US officials were studying … Read more
Gold prices were flat on Friday but headed for a second week of gains, as some weak U.S. economic data fanned expectations that the Federal Reserve might ease the aggressive pace of raising interest rates beginning December. FUNDAMENTALS * Spot gold was flat at $1,663.22 per ounce, as of 0130 GMT but it was up … Read more
Gold prices inched lower on Wednesday as the dollar steadied, while the U.S. Federal Reserve’s commitment to tightening monetary policy also weighed on zero-yield bullion’s appeal. FUNDAMENTALS * Spot gold was down 0.1% at $1,650.75 per ounce, as of 0125 GMT. * U.S. gold futures were up 0.1% at $1,657.30. * The dollar index was … Read more
Gold prices fell on Friday, adding to the weekly decline, as a hotter-than-expected U.S. inflation reading cemented bets of another hefty Federal Reserve interest rate hike next month. FUNDAMENTALS * Spot gold fell 0.3% to $1,660.10 per ounce, as of 0123 GMT. * U.S. gold futures dropped 0.6% to $1,666.80. * The dollar index was … Read more
Gold prices in India have dropped to a discount for the first time in the month, according to a Reuters report. The prices of yellow metal have been tumbling lately in both domestic and global markets. Local gold dealers have been offering a discount of up to $2.5 per ounce over the official domestic prices, … Read more
Gold prices traded in a tight range on Tuesday, as investors maintained a cautious stance ahead of this week’s policy meeting by the Federal Reserve where the U.S. central bank is likely to hike interest rates to tame high inflation. FUNDAMENTALS * Spot gold held its ground at $1,676.80 per ounce, as of 0037 GMT. … Read more
Gold prices slipped on Thursday, as Treasury yields and the dollar rose, with bullion’s outlook hurt by fears the Federal Reserve could go for a more aggressive interest rate hike this month, after data showed U.S. inflation sky-rocketed in June. FUNDAMENTALS Spot gold fell 0.4% to $1,728.39 per ounce by 0100 GMT. U.S. gold futures … Read more
Gold dipped slightly on Tuesday, as a recovery in U.S. Treasury yields from last week’s one-month lows reduced the appeal of non-yielding bullion, with a strong dollar also piling on. FUNDAMENTALS * Spot gold was down 0.1% at $1,807.93 per ounce, as of 0101 GMT. U.S. gold futures rose 0.4% to $1,808.50. * Resuming trade … Read more
Gold was on a rollercoaster ride this month and ended lower, marking its first such decline in three months in April. Price rose in the early half of the month but lost momentum close to $2,000/oz level and corrected sharply to near $1,870/oz level before moving back close to $19,00/oz level. Gold has been directionless … Read more
NEW DELHI: Gold prices inched higher on Friday but were poised for a fourth straight weekly fall as investors eyed key US inflation numbers. Inflation numbers could provide clues on the Federal Reserve’s next policy move. Bullion prices have fallen in the week as investors worried about higher inflation. Gold futures on MCX were up … Read more