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Top related persons:
Jerome Powell - 3 Kyle Rodda - 2 Jerome Powell's - 2 Matt Simpson - 1 Joni Teves - 1 Fed's Raphael Bostic - 1 Teves - 1 Gold - 1
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Seoul South Korea U.S Singapore China , Hong Kong Japan Taiwan Vietnam
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Korea Gold Exchange - 9 Traders - 5 Federal - 4 ANZ - 2 U.S - 2 Treasury - 2 Investors - 2 U.S . Federal - 2

Search resuls for: "Korea Gold Exchange"


12 mentions found


☆ Gold rangebound as traders seek more U.S. data for Fed cues
  + stars: | 2024-06-05 | by ( ) www.cnbc.com   time to read: +1 min
Gold bars arranged at the Korea Gold Exchange store in Seoul, South Korea, on Friday, Oct. 13, 2023. Gold prices rose slightly on Wednesday helped by lower Treasury yields, but were stuck in a tight range as investors waited for more U.S. data to gauge the Federal Reserve's next step on monetary policy. U.S. gold futures rose 0.3% to $2,354.50. Benchmark 10-year Treasury yields lingered near their lowest level in almost three weeks hit on Tuesday, making bullion more attractive to investors. The U.S. services data is due at 1400 GMT.
Persons: Matt Simpson Organizations: Korea Gold Exchange, Federal, Index, Gold Locations: Seoul, South Korea, U.S
☆ Gold hovers near 3-month peak as eyes on Powell's testimony
  + stars: | 2024-03-05 | by ( ) www.cnbc.com   time to read: +2 min
Gold bars arranged at the Korea Gold Exchange store in Seoul, South Korea, on Oct. 13, 2023. Gold prices steadied near a three-month peak on Tuesday, supported by subdued U.S. manufacturing and construction spending, as investors awaited testimony from Federal Reserve Chair Jerome Powell and key jobs data later this week. Spot gold was flat at $2,114.59 per ounce, as of 0423 GMT, hovering around Monday's levels of $2119.69 that marked its highest point since Dec. 4. London's gold price benchmark hit an all-time high of $2,098.05 per troy ounce at an afternoon auction on Monday. The world's largest gold-backed exchange-traded fund, SPDR Gold Trust's GLD holdings were down 10% from the previous year as of March 4.
Persons: Jerome Powell, Joni Teves, Fed's Raphael Bostic, Teves Organizations: Korea Gold Exchange, Federal, UBS, Data, ANZ Locations: Seoul, South Korea, U.S
☆ Gold takes pause in light trading; eyes on Fed in data-packed week
  + stars: | 2024-02-12 | by ( ) www.cnbc.com   time to read: +2 min
Gold bars arranged at the Korea Gold Exchange store in Seoul, South Korea, on Oct. 13, 2023. Gold prices steadied in a tight range on Monday in holiday-thinned trading, as investors awaited remarks from a slew of U.S. Federal Reserve officials in a data-packed week. "Positioning is neutral, and if the data deteriorates softening the dollar and deepening U.S. rate cut bets, then gold will shine again. COMEX gold speculators raised their net long position by 10,616 contracts to 82,591 in the week ended Feb. 6, data showed on Friday. Traders have all but ruled out a rate cut at the Fed's next meeting in March, according to LSEG's Interest Rate Probability app, IRPR.
Persons: Kyle Rodda, Jerome Powell Organizations: Korea Gold Exchange, . Federal Reserve, Traders Locations: Seoul, South Korea, China , Hong Kong, Japan, Singapore, Taiwan, Vietnam, Malaysia
☆ Gold prices gain as traders assess hopes for sizeable Fed rate cut
  + stars: | 2024-02-01 | by ( ) www.cnbc.com   time to read: +2 min
Spot gold rose 0.5% to $2,046.63 per ounce by 0355 GMT. The Fed left interest rates unchanged and knocked down the idea that the U.S. central bank could cut rates in the spring, but dropped a long-standing reference to possible further hikes. Futures pared bets for a rate cut in March to 35.5% from 90% at 2023-end, but increased chances of a reduction in May to 96%, according to LSEG's interest rate probability app IRPR. Traders are pricing in about 142 basis points (bps) of Fed rate cuts for this year, up from bets of about 130 bps of reductions on Wednesday morning. Data showed U.S. private payrolls rose far less than expected in January.
Persons: Gold, Jigar Trivedi Organizations: Korea Gold Exchange, Reserve, Reliance Securities, Traders, U.S, New, New York Community Bancorp, Treasury, Investors Locations: Seoul, South Korea, U.S, New York
☆ Safe-haven gold gains as Middle East worries mount
  + stars: | 2024-01-29 | by ( ) www.cnbc.com   time to read: +2 min
Gold bars arranged at the Korea Gold Exchange store in Seoul, South Korea, on Friday, Oct. 13, 2023. Gold prices rose on Monday as escalating tensions in the Middle East lifted bullion's safe-haven appeal, while moves were limited as traders awaited the U.S. Federal Reserve chair Jerome Powell's remarks this week for cues on interest rate trajectory. There is enough instability still in the Middle East to keep investors interested in gold as part of a safe-haven play, said Tim Waterer, chief market analyst at KCM Trade. Traders are betting on six quarter-point rate cuts for 2024 in the U.S., up from five cuts a week ago, according to LSEG's interest rate probability app IRPR. Lower interest rates decrease the opportunity cost of holding bullion.
Persons: Jerome Powell's, Tim Waterer, Evergrande, Waterer, Powell Organizations: Korea Gold Exchange, U.S . Federal, KCM Trade, Investors, U.S, Fed, Traders Locations: Seoul, South Korea, U.S, Jordan, Syrian
☆ Gold near 5-week low as rate-cut optimism tapers
  + stars: | 2024-01-18 | by ( ) www.cnbc.com   time to read: +2 min
Gold bars arranged at the Korea Gold Exchange store in Seoul, South Korea, on Friday, Oct. 13, 2023. Gold prices hovered near five-week lows on Thursday, as hawkish remarks from Federal Reserve officials and robust data dampened investors' expectation for deeper and early interest rate cuts in U.S. this year. The dollar has strengthened substantially in the past few days, putting a strain on gold prices, Brian Lan at the Singapore based dealer GoldSilver Central, said. Money markets were betting on 142 basis points of Fed rate cuts this year, while pricing in a 61% chance of a March easing, according to LSEG's interest rate probability app, IRPR. Lower interest rates decrease the opportunity cost of holding bullion.
Persons: Brian Lan, it's, GoldSilver's Lan, Raphael Bostic, Bostic, Christopher Waller's Organizations: Korea Gold Exchange, Federal Reserve, GoldSilver, Traders, Atlanta Federal Reserve Locations: Seoul, South Korea, Singapore
☆ Gold heads for first weekly gain in three on Fed pause hopes
  + stars: | 2023-11-17 | by ( ) www.cnbc.com   time to read: +2 min
Gold bars arranged at the Korea Gold Exchange store in Seoul, South Korea, on Friday, Oct. 13, 2023. Spot gold was up 0.2% at $1,984.48 per ounce, as of 0255 GMT, after hitting its highest since Nov. 6 in the last session. Lower interest rates decrease the opportunity cost of holding gold, a non-yielding bullion used as a hedge against inflation. The dollar was on track for a weekly drop, making gold less expensive for buyers holding other currencies, while yields on 10-year Treasury notes hovered near two-month lows. Palladium was also steady at $1,037.46 per ounce, but was heading for its best week in a year.
Persons: Kyle Rodda, Rodda Organizations: Korea Gold Exchange, U.S . Federal, Treasury Locations: Seoul, South Korea
☆ Gold slips as yields tick higher, Powell speech in focus
  + stars: | 2023-11-06 | by ( ) www.cnbc.com   time to read: +2 min
Gold bars arranged at the Korea Gold Exchange store in Seoul, South Korea, on Friday, Oct. 13, 2023. Gold prices slipped on Monday due to a slight uptick in U.S. bond yields, ahead of a speech by Federal Reserve Chair Jerome Powell later this week for more clarity on the interest rate outlook. Spot gold was down 0.4% at $1,983.49 per ounce by 0444 GMT after rising above the key $2,000 level on Friday. "The major factor that will influence gold in the near-term will be the U.S. 10-year Treasury yields ... if you start to see resurgence in yields, gold could break below the key support level around $1,974," said Kelvin Wong, senior market analyst for Asia Pacific at OANDA. Benchmark 10-year Treasury yields rose to 4.5910% after hitting a five-week low on Friday, decreasing appeal for non-yielding bullion.
Persons: Jerome Powell, Kelvin Wong Organizations: Korea Gold Exchange, Federal, Asia Pacific, Traders, Trust, ANZ Locations: Seoul, South Korea, U.S
☆ Gold firms on Middle East conflict, spotlight on Powell speech
  + stars: | 2023-10-19 | by ( ) www.cnbc.com   time to read: +2 min
Gold bars arranged at the Korea Gold Exchange store in Seoul, South Korea, on Friday, Oct. 13, 2023. Gold prices hovered near a 2-1/2-month high on Thursday as escalating Middle East turmoil buoyed demand for the safe-haven asset, while investors awaited U.S. Federal Reserve Chair Jerome Powell's speech due later in the day. Spot gold was steady at $1,947.45 per ounce by 0318 GMT after hitting its highest since Aug. 1 on Tuesday. Market focus will be on Powell's speech to the Economic Club of New York for more cues on the interest rate path after recent dovish comments from several Fed officials. I don't think there's a whole lot to reprice there and doubt the Fed Chair is going to fight that sentiment," Spivak said.
Persons: Jerome Powell's, Ilya Spivak, Joe Biden, Spivak Organizations: Korea Gold Exchange, Federal, Gaza, Economic, of New Locations: Seoul, South Korea, ., Israel, of New York
☆ Gold holds tight range as traders seek direction from U.S. data
  + stars: | 2023-04-26 | by ( ) www.cnbc.com   time to read: +2 min
Gold bars arranged at the Korea Gold Exchange store in Seoul, South Korea. Gold prices moved in a tight range on Wednesday, with recessionary fears lending some support to the safe-haven asset, while investors sought more clarity on the Federal Reserve's rate-hike trajectory from U.S. economic data due this week. Recessionary fears already seem to be providing a floor for gold prices, and "Friday's personal consumption expenditures report will likely pack the biggest punch for gold," Simpson added. Market participants expect the Fed to hike interest rates by 25 basis points. Although gold is considered a hedge against inflation and economic uncertainty, higher interest rates dim the non-yielding asset's appeal.
☆ Gold rises on tepid U.S. dollar, safe-haven inflows
  + stars: | 2023-01-19 | by ( ) www.cnbc.com   time to read: +2 min
Gold rings displayed at the Korea Gold Exchange store in Seoul, South Korea. Gold prices fell on Monday, as the dollar held on to gains following U.S. Federal Reserve Chair Jerome Powell's signal that the central bank will raise interest rates further to tame sky-high inflation. Gold prices rose nearly 1% on Thursday, supported by a weaker dollar and some safe-haven demand as weak U.S. economic readings and hawkish comments from Federal Reserve officials fueled recession worries. U.S. gold futures rose 1.41% to $1,933.90.."There is flight to safety. Elsewhere, spot silver rose 1.72% to $23.8292 per ounce, platinum fell 0.45% to $1,033.3007 and palladium jumped 2.18% to $1,775.8759.
☆ Gold prices at 2½-year low as traders brace for Fed outcome
  + stars: | 2022-09-21 | by ( ) www.cnbc.com   time to read: +2 min
Gold bars arranged at the Korea Gold Exchange store in Seoul, South Korea. Gold prices on Wednesday lingered near their lowest level since April 2020, as investors prepared for the likelihood of another super-sized interest rate hike from the Federal Reserve in its effort to tackle inflation. Gold prices on Wednesday lingered near their lowest level since April 2020, as investors prepared for the likelihood of another super-sized interest rate hike from the Federal Reserve in its effort to tackle inflation. The Fed will release its policy decision at 1800 GMT on Wednesday, followed by chair Jerome Powell's press conference. Rate futures traders are pricing in an 81% chance of another 75 basis-point hike and a 19% probability of a 100 bps increase.
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