Blog posts tagged with 'gold'

Sep 21 (Reuters) - Gold extended its decline on Thursday, weighed by the surge in the U.S. dollar and U.S. bond yields after the Federal Reserve hardened its hawkish posture on interest rates.

Spot gold shed 0.4% to $1,922.30 per ounce by 0907 GMT, having briefly touched its highest since Sept. 1 before closing lower in the previous session...[LINK]

Surprisingly, the #gold market has remained lower this morning despite a softer-than-expected set of inflation readings from the UK. In our opinion, the data was not enough to discourage the Bank of England from hiking rates tomorrow, but the UK economy has created some doubt.

However, recently the gold market has been very sensitive to action in the #dollar, and with gold trading lower today with a setback in the dollar, the bull camp has stepped back.

Certainly, the aggressive recovery in the dollar yesterday has rattled some would-be buyers, especially if the US #Fed surprises and decides to hike today...[MORE]

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Sep 20 (Reuters) - Gold was little changed on Wednesday as investors braced for updated interest rate projections and remarks from Chair Jerome Powell following the Federal Reserve’s monetary policy meeting.

Spot gold was steady at $1,931.20 per ounce at 1127 GMT, holding below its highest level since Sept. 5 reached on Tuesday. U.S. gold futures eased 0.1% to $1,952.50...[LINK]

With the dollar showing signs of eroding the charts in both gold and silver continue to show signs of a slight revival.

Unfortunately for the bull camp investment interest in gold continues to wane with ETF holdings reduced for the 12th straight session, while silver investors bucked the trend with a purchase of 1.2 million ounces!

Apparently, the gold and silver trade is looking beyond the probable Bank of England rate hike tomorrow to the highly likely US Federal Reserve rate hike pause on Thursday...[MORE]

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Sep 19 (Reuters) - Gold prices hit a two-week high on Tuesday as the U.S. dollar eased from a six-month peak ahead of the start of the Federal Reserve’s policy meeting later in the day, with markets braced for a new set of economic forecasts from the central bank.

Spot gold was up 0.1% at $1,934.40 per ounce after hitting its highest since Sept. 5 earlier in the session. U.S. gold futures gained 0.2% to $1,957...[LINK]