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 […]
Will Elon Musk Buy a Silver Mine? Silver to $125 as EV Companies Drive Demand: Keith Neumeyer
Car companies are interesting in potentially acquiring silver mines, as vertical integration happens across sectors, says Keith Neumeyer, President and CEO of First Majestic Silver (NYSE: AG; TSX: FR). Neumeyer discusses how rising industrial demand will send the silver price to triple-digits, and why he is optimistic about gold in 2023. Source link
Asia Gold-China demand buoyant, India ramps up purchases
By Rajendra Jadhav, Seher Dareen* Gold imports flowing into China over past few weeks- MKS PAMP* Indian banks importing more gold since market at premium-dealer* Domestic prices in Japan hovering near historic highs- traderMarch 3 (Reuters) – Physical gold prices traded at a premium in India this week, as a drop in domestic rates encouraging […]
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 […]
PRECIOUS-Gold eases on worries over higher-for-longer rates
*Gold down 1% this week so far*U.S. Jan PCE data due at 1330 GMT*Fed rates seen peaking at 5.338% in July(Adds comments and details, updates prices)Feb 24 (Reuters) – Gold prices inched lower on Friday as investors fretted that a recent slate of stronger-than-expected economic data from the United States could make the Federal Reserve […]
PRECIOUS-Gold tiptoes higher as investors focus on Fed minutes
*Fed minutes due at 1900 GMT*U.S. dollar index down 0.1%*U.S. 10-yr Treasury yields hit highest since November*Silver, platinum off one-week highs marked on Tuesday(Adds details, updates prices)Feb 22 (Reuters) – Gold prices rose marginally on Wednesday, as investors awaited minutes of the U.S. Federal Reserve’s latest policy meeting to assess prospects of further interest rate […]
PRECIOUS-Gold listless as traders look to U.S. data for Fed clues
*U.S. dollar index up 0.2%*Fed minutes due on Wednesday*Traders await U.S. PCE, GDP data(Updates prices)Feb 21 (Reuters) – Gold traded in a tight range on Tuesday as investors refrained from taking big positions ahead of U.S. economic data that could influence the Federal Reserve’s interest rate-hike strategy.Spot gold eased 0.1% to $1,838.66 per ounce, as […]
Is Cloud Mining a Scam?
Cloud mining is a term that refers to the process of renting computing power from a remote data center in order to mine cryptocurrencies. Despite being a popular concept in the cryptocurrency world, cloud mining is frequently regarded as a scam for a variety of reasons. One of the primary reasons cloud mining is regarded […]
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 […]
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 […]