Category: Gold news

Gold prices rose after the dollar and US Treasuries fell from their high levels, but the prospect of an agreement to make the Korean Peninsula a nuclear-weapon-free zone reduces the precious metal’s appeal as a safe haven.

Spot gold rose 0.5 percent to $ 1323.84 an ounce late in the US session. US gold futures for June delivery rose 0.42 percent to $ 1323.40 an ounce.

Said Walter Behuvic, Deputy Chief Executive Officer of Dillon Metals Investment Services “decline in the dollar and also yields US Treasury bonds fell 3 percent boost Aattiyan gold.”

Ten-year Treasury yields, a benchmark for global interest rates, continued their slide from the 3 percent level it surpassed on Wednesday for the first time in four years.

Typically, rising US bond yields are putting pressure on gold by reducing the attractiveness of the precious, non-yielding, dollar-denominated metal.

But traders said the fall in US Treasury and dollar yields and the fall of gold to a key support level has triggered buying in the yellow metal.

Gold finished the week down about 1 percent for the second week in a row, the biggest drop in four weeks.

Among other precious metals, spot silver rose 0.3 percent to $ 16.53 an ounce, ending the week with a loss of about 2.5 percent.

Platinum rose about 0.6 percent to $ 911.74 a troy ounce after hitting its lowest level since Dec. 18 at $ 900.50.

Palladium fell 1.08 percent to $ 973.90 an ounce, ending the week with a loss of about 6 percent. The metal has jumped nearly 10 percent since the United States imposed sanctions on Russian entities on April 6. Russia is the world’s largest producer of palladium.

Gold posted gains of about 8.4% By the end of Friday in the best quarterly performance in a foggy middle of US President Donald Trump’s tax and investment plans and a series of elections in Europe, boosting demand for the precious metal as a safe haven.

Gold recovered from earlier losses as the dollar stabilized after comments in favor of keeping monetary policy unchanged from a Federal Reserve official and discouraging data on the US economy.

By 1948 GMT, gold was up 0.4% on spot trade to $ 1247.4 an ounce, while in US futures it rose 0.2% to $ 1247.30 an ounce.

Earlier in the session, gold fell the most in more than three weeks.

The dollar index, which tracks the performance of the greenback against a basket of six major currencies, was little changed from Thursday’s highs, but it hit its best weekly performance since mid-February, supported by gains made earlier in the week.

The rise in the dollar increases the cost of gold to holders of other currencies, while higher interest rates lead to higher bond yields, limiting the demand for non-yielding gold.

Among other precious metals, spot silver rose 0.7% to $ 18.21 an ounce, with quarterly gains reaching 14.2%.

Platinum rose 0.6 percent to $ 948.60 an ounce and gained about 5 percent this quarter.

Palladium rose 0.2% to $ 795.5 an ounce and gained 17.3% in the first quarter of this year.

Gold prices fell slightly lower in European trading Monday morning, while the actions of the US president helped Donald Trump to allay investor concerns about the uncertainty surrounding the new administration’s controversial policies.

At the COMEX division of the New York Mercantile Exchange, gold futures fell for April delivery rose 3.90 dollars, or the equivalent of 0.3%, to $ 1.232.00 per ounce

The yellow metal rose to its highest level in three months at $ 1.246.60 per ounce last week, amid growing concerns about political risks in Europe and economic instability in the United States.

But futures have fallen because of the concentration of the market again on Trump’s efforts to promote economic growth after the president said his administration would announce exceptional measures concerning taxes over the “next two or three weeks,” during a meeting with airline officials took place last Thursday.

At the same time, there was anticipation and the interest of the Conference of Japan summit with the United States, which lasted for two days, during the weekend, which ended smoothly, which will contribute to support the market sentiment.

It turns out that President Trump has forged with Japanese Prime Minister Shinzo relationship fast friendship, which reduced investors’ fears of the meeting, which ended with seriousness and clear about trade and currency and security issues.

The focus markets in the near term to head the Fed Federal Reserve Janet Yellen scheduled testimony before Congress on Tuesday and Wednesday, where they will be monitoring the comments closely for any new idea in politics, and the timing of a rate hike.

Investors were also awaiting the release of a number of US economic reports such as the producer price index, which issued on Tuesday and the consumer price index, retail sales on Wednesday, home sales on Thursday.

Leaving the Fed borrowing costs unchanged earlier this month, it did not give a clear signal about the next raise interest rates.

He predicted the Federal Reserve, which raised interest rates in December, the interest rate increase at the rate of three times this year. However, traders are still not convinced as investors remained they feel an interest rate hike to only twice this year.

US central bank forecast three rate increases earlier this year. However, traders are still not convinced, with the market continues to price in just two rate hikes this year.

Also in the Comex, silver futures for March delivery rose by 2.0 cents, or the equivalent of 0.1%, to $ 17.95 an ounce after rising to $ 18.01 earlier, the highest price since November 11.

At the same time, the metal platinum rose 0.2% to $ 1.013.85, while the metal palladium fell 0.2% to $ 781.48 an ounce.

Gold fell to its lowest level in five and a half months, reversing early gains with the rise of the dollar index to its highest level in 13 years and a half year due to strong economic data in the United States and the statements of President of the Federal Reserve Janet Yellen, which reinforced the rationale for raising interest rates next month .

She relents in testimony before Congress that the election of the Republican Donald Trump, president of the United States would not bring about a change in the Council’s plans to raise interest rates “relatively soon.”

At 1931 GMT, the price of gold fell 0.8 percent in spot transactions to $ 1215.50 an ounce after falling to its lowest level since the third of June at $ 1210.73 an ounce.

There were yellow metal settlement in US futures contracts, down 0.6 percent at $ 1216.90 an ounce.

Gold fell with the rise of the dollar to the highest level since 2003 against a basket of six major currencies.

Gold gave up all the gains it posted yesterday after rising 1.3 percent to $ 1338.43 an ounce, on the back of head of the US Federal Reserve Chairman Janet Yellen hints about raising interest rates.

Yellin said that the appropriate atmosphere to raise interest increased in the light of economic growth at a moderate pace and the strong performance of the labor market, an expected rise in inflation towards the target by two percent in the next few months.

She added that the Fed still believes that an increase in interest rates in the future should be gradual.

And raise the Fed interest rates in December for the first time in nearly ten years, but declined further increases this year because of slowing global growth and the unpredictability of financial markets and the weak US inflation data in general.
The silver rose 1.1 percent to $ 18.70 an ounce, after recording its lowest level in eight weeks at $ 18.46 yesterday.

Platinum climbed 0.6 percent to $ 1074.99, after falling to its lowest level in a month at $ 1067.25 an ounce in the previous session, and palladium increased one percent to $ 690.9.

Gold price rose in trading on Monday, the first week’s sessions, to continue the positive performance after it grew by more than 5.5% over the past month with the return of investment funds to acquire gold.

Observers of the price of gold finds that the perception of the yellow metal has changed dramatically with the return of investment funds to the acquisition of gold beside the direction of most central banks to buy it to raise its total reserves of gold, which is a safe haven against currency fluctuation and change the economic map after the collapse of oil prices.

The price of gold in the range of 5:42 pm GMT $ 4.50 is equivalent to 0.44% and reached the level of $ 1121.30 an ounce.

He expected to reach the gold level of $ 1140 an ounce during trading this week with the release of US labor market data for the month of January, noting that oil prices played a major role in changing the stock and currency exchanges.

The price of silver rose today by 0.51% and reached the level of 14.315 an ounce.

And for the performance of silver as gold accompanied the gains in stability on the recent period, ending the week’s trading at 01.14 dollars per ounce, recording a gain of 3% by the end of this January’s trading.

The price of palladium today by 0.05% to the level of $ 498.76 an ounce.

While the platinum price fell by 0.07% to the level of $ 870.06 an ounce.

Gold rose yesterday, with the continued decline in equity markets, and the promotion of oil falling for the precious metal as a safe haven, but the slowdown in demand from Asia, kept gold below the highest level achieved this month.

Asian stocks fell to the lowest level in four years, while US crude fell to its lowest level since 2003, raising concerns about the global economy and the dollar’s decline also.

The IMF cut its forecast for global growth for the third time in less than a year, after that the Chinese economy grew less pace in 25 years in 2015.

During trading, gold rose in the spot transactions 0.4% to $ 1091.36 an ounce has also increased in the Futures US contracts for February delivery 0.2% to $ 1091.70. He said Citigroup analysts in their forecasts for commodity markets in 2016, the status of gold as a safe haven, she returned to occupies lead time again, amid concerns about the Chinese economy, and the decline in equity markets ..

And the escalation of geopolitical tensions in the Alkhalij.oodavo «while geopolitical issues usually tend to be short-term, in terms of providing support to gold prices, we expect that the progress of the current global economic concerns, support in this quarter».

And settled for silver in the spot transaction at $ 14.015 an ounce, while palladium fell 0.7% to $ 488.61 and platinum fell 0.6% to $ 818.50 after it came down to the lowest level in seven years at $ 812.95.

Gold prices fell on Wednesday, sending to record the largest quarterly loss in a year as the dollar rose amid anticipation in the markets until clearer vision on the date of the decision to raise US interest rates.

Awad platinum and some of the losses it suffered after he fell to the lowest level since December 2008 in the previous session, but remained ready to record the largest quarterly loss in seven years because of fears of falling demand as a result of the scandal involved the exhaust emissions of the Volkswagen.

It fell four percent since July, recording the fifth decline in quarterly respectively in the longest losing streak of quarterly losses since 1997, and fell Spot gold contracts four percent to $ 1122.90 an ounce (an ounce), while gold prices fell in the US contracts in December to $ 4.90 delivered an ounce to 1121.90 dollars an ounce.

And it exposed yellow metal under pressure due to expectations that the Federal Reserve (the US central bank) tends to raise interest rates this year, and Sergb traders word Janet Yellen president of the Federal Reserve later in the day and the report of jobs in the private sector to devise signals on the strength of the economy and the timing of raising US interest rates.

Platinum rose in the spot contracts 0.7 percent to $ 919.74 an ounce, but recorded a decline of 15 percent in the current quarter of the year, and palladium rose, driven by investors’ belief that the demand for cars powered by gasoline may increase. The metal is ready to achieve the best monthly results since July July 2013 where ten percent rose although it is still toward record quarterly loss limited, offering palladium 1.1 percent to $ 660.75, while silver rose 0.1 percent to $ 14.63 an ounce.