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Read more about Gold hovers near 4-1/2-month high on tepid dollar, inflation jitters on Business Standard. Spot gold was up 0.2% at $1,883.21 per ounce by 0301 GMT. Last week, gold prices hit their highest level since Jan. 8 at $1,889.75
FUNDAMENTALS * Spot gold was down 0.2% at $1,872.21 per ounce by 0126 GMT, but it has risen 1.6% this week. * U.S. gold futures fell 0.4% to $1,873.70 per ounce. * The dollar was pinned near milestone lows against its rivals and was headed for a weekly loss. A weaker greenback makes gold more appealing for other currency holders. [USD/] * Benchmark 10-year Treasury yields fell to 1.6340% overnight. Lower bond yields reduce the opportunity cost of holding non-interest bearing gold. * Risk sentiment in wider financial markets remained upbeat after strong U.S. jobs data lifted hopes around...
Oil under pressure, gold stays steady Posted 3 hours agoSharePrint Iran weighs on oil prices Brent crude and WTI have now retreated around 7.0% from their highs at the start of the week as markets with heavy speculative positioning were punished by association with cryptocurrencies mid-week. Notably, oil prices have failed to recover and have continued down, with the spectre of a return of Iranian oil to the international market weighing on a long speculative market. Overnight, Brent crude another 2.50% to USD65.00 a barrel, while WTI fell by 2.20% to USD61.95 a barrel. In Asia, some short-co...
FUNDAMENTALS * Spot gold was up 0.1% at $1,870 per ounce by 0044 GMT, after hitting its highest since Jan. 29 at $1,874.80 in the previous session. * U.S. gold futures rose 0.1% to $1,869.60 per ounce. * The dollar index held close to a near three-month low against its rivals, making gold less expensive for other currency holders. [ * Market participants are waiting for the release of minutes from the U.S. Fed's April 27-28 policy meeting at 1800 GMT for further clarity on economic recovery and policymakers' view on inflation. * Data on Tuesday showed U.S. homebuilding fell more than ex...
FUNDAMENTALS * Spot gold was down 0.2% at $1,823.77 per ounce by 0127 GMT. Bullion lost 0.4% so far this week. * U.S. gold futures were steady at $1,823.20. * The dollar index held firm near a one-week high, and was set for a weekly gain against its rivals. [USD/] * Benchmark U.S. 10-year Treasury yields slipped from a more than one-month high hit on Thursday. Lower bond yields reduce the opportunity cost of holding non-interest bearing gold. [US/] * Data on Thursday showed that fewer Americans filed new claims for unemployment benefits last week, while producer prices increased more th...