June 9, 2020 9:52 am
Gold prices rose for a second straight day on Tuesday, but the precious metal traded within a relatively tight range, due to investor caution ahead of the Fed’s two-day policy meeting. “Given the enthusiasm for risk and growth exposed assets, we could see pressure come to gold during the session, but on the other hand […]
Read moreJune 8, 2020 9:32 am
Gold prices tumbled to lows not seen since April 21st on Friday and marked the sharpest weekly decline since the business week ended on March 13th, as the official government report on US Non-farm Payrolls added to investor optimism over a swift recovery, dampening safe haven demand. Data showed all segments of the US economy, […]
Read moreJune 5, 2020 9:33 am
Gold was set to register its third straight week of losses on mounting economic recovery optimism, as markets now awaited the more comprehensive US non-farm payrolls report. Data by ADP showed on Wednesday that US private sector had fired only 2.76 million workers in May, following April’s record drop in employment. Another positive signal came […]
Read moreJune 4, 2020 9:25 am
After sliding to lows unseen since May 7th on Wednesday due to economic recovery optimism-driven rally in global equities, Gold recouped a portion of losses on Thursday, climbing back above the $1,700 mark in a corrective move. Lockdown restriction easing coupled with a bit more optimistic macro data heightened risk sentiment and pressured the safe […]
Read moreJune 3, 2020 9:40 am
Having snapped a three-day streak of gains on Tuesday, Gold extended losses in Asian and early European trade on Wednesday as investor optimism over economic recovery and prospects of more stimulus measures gave global equities a boost and dampened demand for the precious metal. “There are a lot of investors who bought gold as a […]
Read moreJune 2, 2020 9:24 am
Gold prices retreated from Monday’s 1 1/2-week highs during European trade on Tuesday, as optimism over gradual economic recovery seemed to have weighed on safe haven demand. However, concerns over strained relations between Beijing and Washington as well as riots in major US cities kept Gold’s intraday loss limited. “It appears that there are factors […]
Read moreJune 1, 2020 9:48 am
Gold prices rose for a third straight day on Monday, reaching highs unseen since May 21st, on weaker US Dollar and as unrest in major cities across the United States and rising tensions between Beijing and Washington over Hong Kong triggered a rush to safe haven assets. The streets of major US cities have been […]
Read moreMay 29, 2020 9:18 am
Having retreated to a two-week low on Wednesday on economic recovery optimism, Gold prices edged up for a second straight day on Friday, as worsening relations between Beijing and Washington seemed to have taken hold of market sentiment, supporting demand for safe haven assets. The precious metal is also poised to register its second straight […]
Read moreMay 28, 2020 9:32 am
Gold prices rebounded from two-week lows overnight and the yellow metal extended gains during European trade on Thursday, as brewing tensions between Beijing and Washington supported demand for haven assets. Gold also drew support by the recently unveiled stimulus packages worth $1.1 trillion in Japan and EUR 750 billion in the European Union respectively, aimed […]
Read moreMay 27, 2020 9:47 am
Gold prices remained close to a two-week low during European trade on Wednesday as demand for safe haven assets seemed to have faded on some optimism over economic activity recovery. Still, gold losses may be limited as rising US-China tensions remain a source of concern. “What we saw over the preceding 24 hours was a […]
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