Gold prices were on track Thursday to notch back-to-back session declines, as a leading dollar index strengthened and U.S. stocks, which often move inversely to the precious metal, traded mostly higher.
Gold and silver continue to fight the opposing forces of inflation versus constant talk of higher interest rates to come. This has led to volatile two way action for most in this sector. Copper has stalled as US stocks recover from recent harsh breaks.
Gold edged down on Thursday and held on track for its biggest weekly loss of 2018 as the dollar was boosted by minutes from the last U.S. Federal Reserve meeting that showed policymakers backed further rises in interest rates.
Gold futures finished at the highest level in nearly three weeks after a hotter-than-expected headline inflation reading prompted investors to turn to the precious metal as a hedge against rising prices.
Gold futures on the COMEX division of the New York Mercantile Exchange ended at a nearly one-month low on Wednesday, as the U.S. dollar gained and stocks moved higher, dulling investment demand for the precious metal.
Current events have injected financial markets with a solid does of volatility. Wage inflation showed up in the latest US Jobs Data numbers both here and in Germany. Japan continues to languish. Stock indices ended a vertical move to the upside, that began on January 1st and ended on January 29th.
Gold futures on the COMEX division of the New York Mercantile Exchange edged higher Wednesday, recouping some of their recent losses after briefly tapping a nearly four-month intra day high as the U.S. dollar weakened against major rivals.
GOLD New Delhi, Nov 15 (PTI) Gold prices were down Runescape gold (Rs) 17 at Runescape gold (Rs) 29,605 per 10 grams in futures trade today as participants went for profit-booking at prevailing levels even as the metal strengthened overseas.
New York Mercantile Exchange (COMEX) Gold prices were roughly unchanged on Wednesday as the dollar came under pressure despite bullish economic reports pointing to underlying strength in the United States economy.
New York Mercantile Exchange (COMEX) Gold prices fell 1percent on Wednesday after the United States Federal Reserve left interest rates unchanged but signaled it still expected to raise interest rates by year-end.
New York Mercantile Exchange (COMEX) Gold fell to a 1-1/2-week low on Wednesday, erasing earlier gains as the dollar index jumped, though a retreat in global stocks after Tuesday's record high prevented deeper losses.