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Tag: palladium

Gold Price Rises as Dollar and Yields Slip on US Jobs Data
7Jul By adminNo Comments
Business

Gold Price Rises as Dollar and Yields Slip on US Jobs Data

Last Updated: July 08, 2023, 01:33 ISTNew York, United States of America (USA)Gold remains stubbornly bid - trading higher even before the number. Today's report has given bulls some relief, at least short term, said Tai Wong, a New York-based independent metals trader. Gold prices rise as weaker US nonfarm payrolls cast doubt on interest rate hikes, boosting the appeal of the precious metalGold prices rose on Friday and were on track for their first weekly gain in four as the dollar and bond yields fell after weaker U.S. nonfarm payrolls numbers cast doubts over the trajectory of interest rate hikes beyond July yet again. Spot gold was up 0.8% at $1,926.54 per ounce at 2:06 p.m. EDT (1806 GMT). Bullion was up 0.4% so far this week.U.S. gold futures settled 0.9% higher at $1,932.50. Labou...
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Gold Prices Rise as Weak US Economic Data Spurs Fed Rate-Hike Reassessment
4Jul By adminNo Comments
Business

Gold Prices Rise as Weak US Economic Data Spurs Fed Rate-Hike Reassessment

Last Updated: July 05, 2023, 02:13 ISTNew York, United States of America (USA) Previous flare-ups also benefited the U.S. dollar, reducing demand for gold. Spot gold rose 0.4% to $1,928.09 per ounce by 09:31 a.m. EDT (1331 GMT), with trading volumes likely thinned by a U.S. holidayGold prices edged higher on Tuesday as some traders bet that recent weak U.S. economic data may prompt the Federal Reserve to rethink its rate-hike trajectory, while also awaiting further cues from the minutes of the central bank’s last meeting.Spot gold rose 0.4% to $1,928.09 per ounce by 09:31 a.m. EDT (1331 GMT), with trading volumes likely thinned by a U.S. holiday.U.S. gold futures gained 0.3% to $1,935.90.“Weaker-than-expected U.S. economic data released on Monday, including PMIs, have supported gold. Mar...
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