Gold recorded its worst weekly slump this year in the week ending May 24 on hawkish FOMC minutes and robust US PMIs. Now, markets largely look for just one rate cut this year as traders readjust their rate expectations in the wake of the US data and the Fed’s stance. Spot gold closed with a … Read more
Spot gold tested a new lifetime high last week due to a combination of factors that have converged to propel the demand for the yellow metal. Multiple catalysts like US rate cut speculation, China’s economic stimulus, and renewed geopolitical tensions attributed to the rise in prices. Prices on the London spot market surged near to … Read more
Spot gold closed with a gain of 0.59% at $2392 Friday as the metal rose on fresh concerns about the geopolitical situation following Israel’s attack on Iran. Israel reportedly struck back Iran on Friday morning in a low-scale drone operation. Although targets were Iran’s military sites, damage was limited. Iranian media downplayed the impact of … Read more
Spot gold closed with a solid gain of 1.76% at $2330 Friday as the metal rallied for the third straight week. It hit a fresh record high just above $2330. It posted a whooping gain of nearly 4.50% on the week despite surging yields and a largely steady US Dollar. Part of the gains this … Read more
Banking industry concerns continue to recede, though the risk of banks’ deposit outflows to money market funds may affect the lending process of the banks, which means that eventually, there is a distinct possibility of economic slowdown in the coming months. In absence of any major negative headlines concerning the banking sector, risk appetite has … Read more
Spot gold closed Friday with a gain of nearly 0.50% at $1717.10 as the US Dollar Index retreated 0.67% to close at 108.97. A confluence of factors led to a decline in the Dollar Index, none of which may last for long. The dollar fell as the US treasury secretary Ms Yellen commented that the … Read more