monsitj/iStock via Getty Images Gold futures rallied past $2,400/oz in Thursday’s trading following a surprise drop in U.S. consumer prices in June, raising hopes that the Federal Reserve will soon start cutting interest rates. The latest data from the Bureau of Labor Statistics showed a 0.1% decline in consumer prices,Continue Reading
monsitj/iStock via Getty Images Gold futures gained Wednesday, following the equity markets higher after comments from Federal Reserve Chair Jerome Powell raised expectations for lower interest rates soon. Two days of congressional testimony from Powell appeared to indicate a favorable tilt toward cutting rates, saying progress is being made inContinue Reading
monsitj/iStock via Getty Images U.S. gold futures fell sharply on Monday in apparent profit-taking by investors after last week’s rally over expectations that the Federal Reserve could reduce interest rates in September. Also, China’s central bank refrained from gold purchases to its reserves for a second straight month in June,Continue Reading
monsitj/iStock via Getty Images Gold futures rallied Wednesday to the highest in nearly a month, as the dollar slumped on renewed hopes for a September interest rate cut by the Federal Reserve following U.S. data suggesting a softening labor market. The U.S. reported first-time applications for unemployment benefits increased lastContinue Reading
CyberMetals on Thursday said investors were more likely to trust physical assets such as gold rather than digital investments during economic uncertainty and times of geopolitical turmoil. “A significant 80% of investors reported trusting physical assets more than digital ones during turbulent times, with gold (64%) and real estate (63%)Continue Reading
monsitj/iStock via Getty Images Gold prices sank Friday after data showing surprising strength in U.S. business activity boosted the dollar and bond yields, wiping out gold’s gains made during the rest of the week. The S&P Global U.S. Composite Purchasing Managers Index, which gauges activity in the manufacturing and servicesContinue Reading
