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Gold prices rose for a fourth straight week to mid-August, hovering close to $1,800 per ounce, with a focus on data showing a slowdown in U.S. inflation increases. Gold was at $1,801.97 per ounce, up 0.74 percent, in late trade on August 12. After US consumer prices rose by an annualised 8.5 percent in July, […]
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Gold was among the very first metals to be mined because it commonly occurs in its native form. It is pure, beautiful and lasts for a lifetime since it doesn’t age and hence the metal started to gain value. Because of its exquisite properties, chemical and physical, people started crafting expensive objects made in gold that were worn, cherished and passed through generations. Some on the other hand took gold as something they could invest in as they saw its value appreciating while people started treating it as a precious and valuable find. Not just that, artisans of ancient civilizations lavishly used gold to craft sculptures, lifestyle objects and also to decorate tombs and temples. Even today, archaeologists keep uncovering such finds, some even dating back to more than 5,000 years ago.
Gold, even today remains one of the most precious elements that is found on earth. Its value keeps fluctuating with respect to various geographical, political and economical factors. Geographical factors include the availability of gold mines in a geographical area, whereas political factors like wars and international tensions have a drastic effect on the other hand economical factors like demand and supply also play a major role in determining the rate of gold.
Gold prices steadied in mid-July, buoyed by a softer U.S. dollar on receding expectations of a large, 100 basis points (1 percent) U.S. rate hike next week as global recession fears build. Gold prices were down 0.3 percent to $1,709.50 per ounce on July 18. Gold had recovered from its lowest level in nearly a […]
Continue ReadingGold prices fell around 4 percent in the second week of May, pressured by expectations of more U.S. rate rises in the pipeline to control inflation, and by a rising dollar. Gold slid to $1,798.86 per ounce on May 13, its lowest level since February 4, before clawing back some ground to $1,810.68 later in […]
Continue ReadingGold prices rose in the second week of April, underpinned by the yellow metal’s appeal as a safe haven amid fears of an increasing Russian offensive in eastern Ukraine, and concerns over rising inflation. Gold dipped on April 14, just before the Easter break, pressured by a stronger U.S. dollar. Dollar-denominated gold becomes more expensive […]
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Gold prices edged up slightly after the US Federal Reserve (Fed) raised interest rates by a quarter of a percentage point, with the precious metal’s immediate future linked to expectations of further US rate increases and uncertainty over the war in Ukraine. Gold prices were flat after the Fed raised rates on March 16 as [...]Continue Reading
Gold prices dipped from 8-month peaks in mid-February on reports some Russian troops near Ukraine returned to their bases, easing worries over risks of an invasion. Some troops in Russia’s military districts adjacent to Ukraine are returning to base after completing drills, Russia’s defense ministry was quoted as saying on February 15. The news also [...]Continue Reading
Gold slipped in mid-January, pressured by a firmer dollar and sentiment that U.S. interest rates could rise in order to tame inflation. Gold eased 0.3 percent to $1,816.22 per ounce on January 14, weighed by a stronger dollar and firmer Treasury yields on prospects of U.S. interest rate rises. Upside in the greenback makes dollar-denominated [...]Continue Reading
Gold rose and the dollar fell in mid-December after the US central bank decided to wind back its stimulus measures. In the UK, the decision by the Bank of England on December 16 to raise interest rates to 0.25 percent from their historic low of 0.1 percent, which surprised some market commentators, boosted the pound, [...]Continue Reading
Gold prices accelerated higher in the first half of November, buoyed by nagging concerns over inflation. Prices of gold, seen as a hedge against rising prices, rose around 2.6 percent in the second week of November, underpinned by rising consumer prices in the United States. Spot gold prices were down 0.44 percent at 1,857.26 per [...]Continue Reading
Gold prices were on track in mid-October for their biggest weekly rise since May, buoyed by a weaker dollar, but expectations of a tapering of U.S. monetary stimulus could limit further gains. Gold prices were heading for a rise of more than 2 percent in the week to mid-October. The yellow metal was down 0.08 [...]Continue Reading
Gold prices fell sharply in mid-September as an unexpected increase in US retail sales in August drove up the dollar. Analysts see risks that gold could fall further due to expectations the US central bank could soon start withdrawing stimulus measures for the world’s biggest economy. All eyes turned to the September 21-22 Federal Open [...]Continue Reading
Gold prices recovered from a more than four-month low in the second week of August due to receding investor concerns over the possible scaling back of U.S. economic stimulus measures. Bullion hit the low after strong U.S. jobs data had stoked sentiment that the Federal Reserve (central bank) might start to reduce its asset buying [...]Continue Reading
Gold prices touched a more than 3-month peak on May 17, boosted by a fall in U.S. Treasury yields and concerns over a resurgence of coronavirus in Asian countries. Analysts see a bullish outlook for the yellow metal due to fears over rising inflation. Gold broke above resistance at $1,850 and traded at $1,853.06 per […]
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Gold prices jumped to a seven-week peak on April 16 boosted by softening U.S. Treasury yields and a weaker dollar, and underpinned by inflationary worries after higher-than-expected consumer prices data in the United States. Gold was up 0.8 percent to $1,779.07 per ounce on April 16, after touching $1,783.55, its highest since February 25. The [...]Continue Reading
Gold traded little changed in mid-March, underpinned by a huge U.S. stimulus package, with analysts divided over the near-term price outlook for the yellow metal after prices recovered from a nine-month low last week pressured by rising bond yields. With stimulus cheques going out to Americans following the passage through Congress of U.S. President Joe [...]Continue Reading
Gold edged lower on higher U.S. Treasury yields in mid-February, with sentiment mixed over the near-term outlook for bullion prices. Gold, which bears no yield, was down 0.26 percent to $1,819.90 per ounce on February 15, after U.S. Treasury yields surged to a near 11-month high on February 12. Gold was losing its “safe haven” [...]Continue Reading
Gold erased initial gains after the inauguration of President Joe Biden, pressured by a firmer dollar while being supported by its appeal as a hedge against inflation due to a proposed U.S. $1.9 trillion stimulus package. Gold was down 1 percent at $1,851.50 per ounce on January 22, weighed by the strengthening dollar, which can [...]Continue Reading
Surging cases of coronavirus, boosting prospects for emergency economic stimulus measures, are pushing up gold prices despite progress in the international rollout of vaccines. Expectations of further U.S. stimulus measures by the U.S. Federal Reserve (central bank) to assuage the impact of coronavirus on the livelihoods of millions of Americans, combined with optimism over efforts [...]Continue Reading
Gold prices slipped in mid-October, pressured by a stronger dollar as prospects faded for a new economic stimulus deal before the November 3 presidential election in the United States. The dollar’s appeal to investors as a safe haven during the pandemic has grown, and has made dollar-denominated gold more expensive to savers and investors holding [...]Continue Reading
Gold appears set to remain well-supported due to historically low interest rates, quantitative easing, and fiscal and political concerns, despite optimism that the U.S. economy will recover quicker than expected. Gold slipped as the dollar rose on September 17 after the Federal Reserve (U.S. central bank) signalled it expected the recovery of the world’s largest [...]Continue Reading