Gold steady after snapping 4-week losing streak
Gold futures were little changed Monday, holding steady after snapping a run of four straight weekly declines, as investors awaited testimony this week by Federal Reserve Chair Jerome Powell.Price action Gold for April delivery GC00, +0.16% GCJ23, +0.16% rose $2.60, or 0.1%, to $1,857.20 an ounce. May silver SIK23, -0.01% was up 3.2 cents, or […]
Gold futures mark first gain in 6 sessions
Gold futures finished higher on Monday, with prices bouncing back after posting declines for five consecutive sessions. “We have seen quite a shift in market direction in favour of the dollar and yields, with most foreign currencies, gold, and US equities falling out of favour,” said Fawad Razaqzada, a market analyst at City Index and […]
Gold prices on track to rise for third day as markets cheer dovish Powell
Gold prices advanced on Wednesday for the third straight session as the U.S. dollar softened and Treasury yields declined, helping to bolster the relative attractiveness of the yellow metal. Price action Gold for April delivery GC00, +0.28% GCJ23, +0.28% gained $10.60, or 0.6%, to $1,895 per ounce on Comex. Silver for March delivery SI00, +1.10% […]
Gold futures end higher, with the U.S. dollar lower in the wake of Powell’s remarks
Gold futures climbed on Tuesday, posting a second straight session gain, with prices finding support from some weakness in the U.S. dollar as Federal Reserve Chairman Jerome Powell spoke at the Economic Club of Washington. Powell said that the U.S. jobs report released Friday shows that the Fed needs to keep raising interest rates, but […]
There isn’t enough copper in the world, shortage could last until 2030
A copper master and his copper products at the Coppersmith Bazaar in Baghdad, Iraq on March 15, 2022.Murtadha Al-Sudani | Anadolu Agency | Getty ImagesA copper deficit is set to inundate global markets throughout 2023 — and one analyst predicts the shortfall could potentially extend throughout the rest of the decade.The world is currently facing […]
Oil futures get lift on China demand hopes
Oil futures rose Tuesday, finding support as ongoing hopes a revival in crude demand from China run strong. A devastating earthquake that left thousands dead in Turkey and Syria and Turkey’s Ceyhan oil export terminal, with a capacity of 1 million barrels a day, was expected to be closed through Wednesday, Reuters reported. See: How […]
Gold prices finish higher after falling to a 3-week low
Gold prices finished a bit higher on Monday after tumbling to their lowest level in three weeks following Friday’s surprisingly strong jobs report, which helped send Treasury yields and the dollar higher to the detriment of the yellow metal. Price action Gold for April delivery GC00, +0.19% GCJ23, +0.19% rose $2.90, or nearly 0.2%, to […]
Gold prices rebound after hitting 3-week low
Gold prices rebounded on Monday after tumbling to their lowest level in three weeks following Friday’s surprisingly strong jobs report, which helped send Treasury yields and the dollar higher to the detriment of the yellow metal. Price action Gold for April delivery GC00, +0.47% GCJ23, +0.47% rose $9.50, or 0.5%, to settle at $1,885 an […]
Silver Prices Are Outpacing Gold. That’s a Good Sign for the Global Economy.
Silver has sharply outpaced gold’s gains in the past three months, and its classification as both an industrial and precious metal may lead it on a path to even higher prices. From Oct. 31 to Jan. 31, Comex silver futures climbed nearly 25%, outpacing gold’s almost 19% climb, a “statistically unusual amount that shows the […]
Gold demand surged to 11-year high on ‘colossal’ central bank buying
Ingots of 99.99 percent pure gold are placed in a workroom at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, January 31, 2023. Alexander Manzyuk | ReutersGold demand soared to an 11-year high in 2022 on the back of “colossal central bank purchases, aided by vigorous retail investor buying,” according to the World […]