On Thursday, gold surged to new highs before declining as the US dollar strengthened. The metal was on track for its best week in six weeks. Meanwhile, investors awaited a speech by Federal Reserve Chair Jerome Powell that might provide insights into the future of interest rates. US jobless claims (Source: US Labor Department) Earlier Read More…
Gold was headed for its fourth consecutive weekly decline as longer-term US Treasury yields surged to a 10-month peak on Thursday. This surge in yields, concerns about the enduring impact of elevated interest rates, and a struggling Chinese economy accelerated the decline of gold prices. The benchmark 10-year yields climbed to 4.312%, testing October’s 4.338%, Read More…
On Thursday, gold experienced a rise of up to 0.8% in response to the data release indicating that the US consumer price index increased by a lower-than-expected 3.2% annually. US inflation (Bureau of Labor Statistics) This growth fell short of the 3.3% forecast from the Reuters poll. Still, the overall outcome has led to speculation Read More…
Introduction The most prominent feature on the Gold chart the last time we looked at it was the danger of a triple top formation on the weekly time frame. This is still a worry for the bulls but there is some hope for them in the form of a parabolic curve and a minor support Read More…
On Thursday, gold prices appeared poised to record their worst week in six as investors prepared for a closely watched US jobs report. US yields (Source: Bloomberg) This came after strong economic data during the week drove Treasury yields to their highest level in nine months. The increase in US long-term Treasury yields, which reached Read More…
A stronger dollar and rising bond yields caused gold prices to drop over 1% to a two-week low. Spot gold declined by 1.4% to $1,943.89 per ounce, while US gold futures fell 1.36% to $1,943.40 per ounce. The US dollar gained ground on Thursday, driven by news of stronger-than-expected economic growth in the country, despite Read More…
