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Gold wavering, dollar up, ECB caught in a trap

The gold price has eased down following a dollar rally, the greenback having previously plunged to multi-month lows. Spot gold fell 0.2% to $1,240.11 at 07:02 GMT. US gold futures for August delivery fell 0.2% to $1,239.50. On the continent the European Central Bank (ECB) has been in two minds. Last June we reported that […]

July 19th, 2017 | Posted in Gold News,Markets | Read More »

Gold primes for another rally as bitcoin traders anticipate split

The gold price has edged up against a soft dollar and wavering sentiment over a US interest rate hike. The greenback almost touched a ten-month low after weaker economic data reduced the likelihood of an early rate hike from the Federal Reserve. The gold price currently stands at $1,229.72. Last Friday the US government reported […]

July 17th, 2017 | Posted in Gold News,Markets | Read More »

Yellen walks the rate hike tightrope

The gold price has eased off in the aftermath of Janet Yellen’s testimony to congress, but a more balanced tone to the delivery allowed for a healthy balance between keeping markets perky and gold steady. Yellen reaffirmed the Federal Reserve’s (The Fed) plan to increase interest rates, but emphasised the gradual nature of the hike. […]

July 14th, 2017 | Posted in Gold News,Markets | Read More »

Treasury yields see gold dip

The gold price has eased off any potential price gains as treasury yields firmed, but is floating above the eight-week low experienced last Wednesday, where spot prices hit $1,217.14, their weakest since May 10. Ten-year US treasuries yields remain at high levels: “You have higher real yields in the United States, but a lower dollar, […]

July 7th, 2017 | Posted in Gold News,Markets | Read More »

Monetary hawks help dollar push down gold

The gold price has moved down as a hawkish sentiment arose from the European Central Bank’s forum in Portugal. Spot gold fell 0.2% to $1,242.56 as of 0736 GMT; US gold futures for August were down 0.3% at $1,242.60. Comments from leaders of top monetary institutions such as European Central Bank head Mario Draghi, Bank […]

June 30th, 2017 | Posted in Gold News,Markets | Read More »

Gold recovers on the back of a weak dollar as news comes in from ECB forum

The gold price is recovering after the “fat fingered muppet” crash that happened on Monday, which saw an uncharacteristic sell-off push gold $20 downward. Spot gold rose 0.4% to $1,251.91 by 04:08 GMT today, and US gold futures for August delivery were up 0.5% to $1,252.50. Part of gold’s recovery since Monday’s drop is attributable […]

June 28th, 2017 | Posted in Gold News,Markets | Read More »

Gold steady ahead of Yellen speech, following yesterday’s shock drop

Today’s influences on the gold price look to come from a soft dollar, and Federal Reserve (Fed) chair Janet Yellen’s speech in Portugal. Yellen will likely re-affirm the Fed’s outlook on the US economy, which is currently positive, and hint at raising rates once more this year, according to OCBC analyst Barnabas Gan, in Reuters. […]

June 27th, 2017 | Posted in Gold News,Markets | Read More »

Gold drops ahead of global Forum on Central Banking

This morning saw $12 wiped off gold’s spot rate in a matter of minutes. The gold price dropped from $1,253.77 to a low of $1,241.71 between 9:02am and 9:06am; at the time of writing it sits at $1,243.91. According to investing.com, Comex (the New York Commodity Exchange) gold futures were down to $1,246.03. A slew […]

June 26th, 2017 | Posted in Gold News,Markets | Read More »

UK Election uncertainty sees gold trading quadruple

People have been selling their gold in parallel to some of the most unstable times the UK has experienced in years: “BullionVault [saw] four times the usual volume of trade after the UK election exit polls were published,” says CityAM’s Katherine Denham. She goes on to say that other firms in the gold market have […]

June 20th, 2017 | Posted in Gold News,Markets | Read More »

Gold dips on hawkish interest rate sentiment from The Fed & Bank of England

Gold has continued its downward trajectory after the Federal Reserve (Fed) interest rate hike on Wednesday, reaching its lowest settlement in three weeks. Yesterday gold futures fell, with August gold down $21.30, or 1.7%, to settle at $1,254.60 an ounce — the lowest most-active contract finish since May 24. Janet Yellen and the other members […]

June 16th, 2017 | Posted in Gold News,Markets | Read More »

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