Sep 6 (Reuters) - Gold languished near one-week lows on Wednesday on strength in the dollar and Treasury yields, driven by expectations for U.S. interest rates to stay elevated for longer and worries about China’s economy.
Spot gold was flat at $1,926.30 per ounce by 1209 GMT, after hitting its lowest since Aug. 29 earlier in the session. U.S. gold futures were little changed at $1,952.40...[LINK]
Sept 5 (Reuters) - Gold slipped to a one-week low on Tuesday as investors sought the U.S. dollar after weak data in China, although rising expectations for a pause in interest rate increases by the U.S. Federal Reserve limited losses.
Spot gold declined 0.4% to $1,930.33 per ounce by 1126 GMT, eyeing its biggest daily drop since mid-August. U.S. gold futures fell 0.6% to $1,955.80...[LINK]
Sep 1 (Reuters) - Gold prices firmed on Friday as investors braced for U.S. jobs data that could confirm the economy’s recent cooling trend and reduced rate hike expectations that have set gold on track for its second straight week of gains.
Spot gold climbed 0.2% to $1,943.80 per ounce by 1008 GMT and was poised for a 1.5% weekly gain after prices touched one-month highs on Wednesday. U.S. gold futures were up 0.2% at $1,970.40...[LINK]
While initial prices are softer today both gold and silver maintain bullish charts but will be heavily impacted by initial claims which are expected to show an increase in those claiming unemployment benefits.
In other words, the bull camp needs soft economic data to further the rate pause mantra which was given added credence overnight from comments from the Atlanta Federal Reserve president Bostic who indicated that US interest rates are "high enough".
However, the PCE data is typically a significant input into Fed decisions and that combined with the last significant cycle of monthly jobs news ahead of the September 14th Fed meeting should mean volatility and the potential for a trend signal for early September...[MORE]
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Aug 31 (Reuters) - Gold firmed near one-month highs on Thursday to cap this month’s losses as the odds of another U.S. interest rate hike were trimmed by data earlier this week pointing to a slowing labor market, while traders keep their eyes peeled for the upcoming inflation reading.
Spot gold was up 0.1% higher at $1,944.74 per ounce by 1003 GMT, close to its Aug. 2 high of $1,948.79 hit on Wednesday. U.S. gold futures were down 0.1% to $1,971.50...[LINK]