Gold – Atlas Today

Written by:RituPosted on:January 4, 2023

Gold prices hovered around six-month highs on Wednesday, cutting short a recent rally as traders bought back into the dollar in anticipation of more cues on monetary policy from the minutes of the Federal Reserve’s December meeting. The yellow metal marked a strong start to the new year as concerns over a looming recession and a potential slowdown in U.S. interest rate hikes led to increased demand for safe havens apart from the dollar. But…

Written by:RituPosted on:December 6, 2022

Gold prices sank below key levels on Tuesday, with metal markets back under pressure as stronger-than-expected U.S. data boosted the dollar and ramped up uncertainty over strength in the U.S. economy and how the Federal Reserve will respond to it. The dollar rose for the first session in four on Monday, recovering from a five-month low after U.S. factory orders and services sector data showed that some facets of the economy were running well above…

Written by:RituPosted on:November 23, 2022

Gold prices steadied on Wednesday, while copper extended strong gains as risk-driven assets rallied on expectations that the Federal Reserve will hike interest rates at a slower pace in the near-term, which also trimmed dollar gains. A growing number of Fed officials said in recent weeks that the central bank is likely to raise interest rates by a relatively smaller margin – 50 basis points (bps) – in December. This spurred a growing amount of…

Written by:RituPosted on:November 3, 2022

Gold prices fell on Thursday, reversing recent gains as hawkish comments from Federal Reserve Chairman Jerome Powell dashed hopes that interest rate hikes will end soon, while copper prices were also hit by uncertainty over China withdrawing its zero-COVID policy The Fed hiked interest rates by an as-expected 75 basis points (bps), and said that it was “very premature” to consider pausing further rate hikes While Powell hinted that future rate hikes may be of…

Written by:RituPosted on:November 2, 2022

Gold prices held recent gains on Wednesday as the dollar steadied before the conclusion of a Federal Reserve meeting, while copper prices were lifted by speculation over China potentially relaxing its strict zero-COVID policy Spot gold steadied around $1,648.23 an ounce, while gold futures rose 0.1% to $1,650.80 an ounce. Both instruments jumped from a 10-day low on Tuesday, as the dollar paused its recent rally The dollar index steadied around 111 on Wednesday, with…

Written by:RituPosted on:October 19, 2022

Gold prices rose slightly on Wednesday, extending mild gains into a third session as pressure from the dollar abated, although hawkish signals from Federal Reserve officials prevented further gains Spot gold rose 0.1% to $1,653.49 an ounce, while gold futures rose 0.2% to $1,658.90 an ounce by 19:20 ET (23:20 GMT). Both instruments spent a second day above the key support level of $1,650, tracking a decline in the dollar The dollar index is trading…

Written by:RituPosted on:October 14, 2022

Gold prices fell on Friday and were set to close the week lower amid fears of more interest rate hikes by the Federal Reserve, while signs of tightening supply helped copper and aluminum prices weather a worsening economic outlook Bullion prices sank well below $1,650 on Thursday – a key support level – after U.S. CPI inflation data read higher than expected for September. But they then rebounded sharply, tracking a broader risk-on rally that…

Written by:RituPosted on:August 19, 2021

By Administrator_India Capital Sands Gold prices declined by Rs 307 to Rs 47,276 per 10 gram in the Mumbai retail market on the firm rupee and muted global cues. The yellow metal traded in a narrow range as investors await FOMC meeting minutes later in the day. The price of 10 gram, 22-carat gold in Mumbai was Rs 43,305 plus 3 percent GST, while 24-carat 10 gram stood at Rs 47,276 plus GST. The 18-carat…