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☆ Gold retreats as dampened Fed rate cut hopes dent appeal
▼ + stars: | 2024-04-29 | by ( ) www.cnbc.com time to read: +2 min

One kilo gold bars are pictured at the plant of gold and silver refiner and bar manufacturer Argor-Heraeus in Mendrisio, Switzerland, July 13, 2022. Gold prices slipped on Monday as hopes for early interest rate cuts this year dampened, while focus shifted to the Federal Reserve policy meeting and U.S. non-farm payrolls data due this week for further clarity on monetary policy. "Short term, gold is facing some challenges given the likely delayed timeline for rate cuts. The Federal Reserve's policy meeting from April 30-May 1 and the non-farm payrolls data due on Friday are key for markets this week. The Fed is seen holding its benchmark interest rate steady at 5.25%-to-5.5% at this meeting.

Persons: Tim Waterer, Jerome Powell, Waterer Organizations: Federal Reserve, KCM Trade, Investors, People's Bank of, Citi Locations: Mendrisio, Switzerland, People's Bank of China

☆ Gold ticks higher as weaker US dollar, yields lend support
▼ + stars: | 2023-11-23 | by ( ) www.reuters.com time to read: +2 min

One kilo gold bars are pictured at the plant of gold and silver refiner and bar manufacturer Argor-Heraeus in Mendrisio, Switzerland, July 13, 2022. REUTERS/Denis Balibouse/File Photo Acquire Licensing RightsNov 23 (Reuters) - Gold prices edged higher on Thursday, hovering close to a key $2,000 per ounce level, as an overall weaker dollar and lower U.S. Treasury yields buoyed demand for bullion. FUNDAMENTALS* Spot gold was up 0.1% at $1,992.59 per ounce, as of 0143 GMT, after hitting a three-week high of $2,007.29 on Tuesday. * Lower interest rates decrease the opportunity cost of holding gold. DATA/EVENTS (GMT) 0745 France Business Climate Mfg, Overall Nov0815 France HCOB Mfg, Serv, Comp Flash PMIs Nov0830 Germany HCOB Mfg, Serv, Comp Flash PMIs Nov0900 EU HCOB Mfg, Serv, Comp Flash PMIs Nov0930 UK Flash Comp, Mfg, Serv PMIs NovReporting by Brijesh Patel in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

Persons: Denis Balibouse, CME's, Serv, Brijesh Patel, Rashmi Organizations: REUTERS, Treasury, . Federal Reserve, Trust, Climate Mfg, France HCOB, Germany HCOB, Mfg, Thomson Locations: Mendrisio, Switzerland, France, Germany, Bengaluru

REUTERS/Denis Balibouse/File Photo Acquire Licensing RightsLONDON, Oct 31 (Reuters) - Global gold demand excluding over-the-counter (OTC) trading slipped 6% in the third quarter as central bank buying fell short of last year's record levels and consumption by jewellers declined, the World Gold Council (WGC) said on Tuesday. Gold demand shot to an 11-year high in 2022 due to the biggest central bank purchases on record. "With geopolitical tensions on the rise and an expectation for continued robust central bank buying, gold demand may surprise to the upside," said Louise Street, senior markets analyst at the WGC. Central bank demand totalled 337.1 tons, down from a record 458.8 tons a year before. QUARTERLY GOLD SUPPLY AND DEMAND (tonnes)** Source: World Gold Council, Gold Demand Trends Q3 2023Reporting by Polina Devitt; Editing by Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

Persons: Denis Balibouse, Louise Street, Polina Devitt, Jan Harvey Organizations: REUTERS, Gold Council, Gold, Thomson Locations: Mendrisio, Switzerland, Central, Europe

☆ Gold pauses declines as investors hold breath for U.S. payrolls report
▼ + stars: | 2023-10-06 | by ( ) www.cnbc.com time to read: +2 min

One kilo gold bars are pictured at the plant of gold and silver refiner and bar manufacturer Argor-Heraeus in Mendrisio, Switzerland, July 13, 2022. Spot gold rose 0.2% to $1,823.59 per ounce by 0335 GMT, but was on track to extend losses to a second consecutive week, shedding 1.3% so far. Markets await the release of U.S. non-farm payrolls data at 1230 GMT, following a string of jobs indicators released this week. SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, said its holdings hit the lowest levels since August 2019 on Thursday. Prices for platinum-group metals could remain depressed, CEO of the world's biggest platinum miner by value, Anglo American Platinum, told Reuters.

Persons: Ilya Spivak, Spivak Organizations: U.S ., Benchmark, Federal, Treasury, Trust, Reuters Locations: Mendrisio, Switzerland, U.S, American

☆ London gold body aims to create secure global database
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +1 min

Melted gold flows out of a smelter into a mould of a bar at a plant of gold and silver refiner and bar manufacturer Argor-Heraeus in Mendrisio, Switzerland, July 13, 2022. REUTERS/Denis Balibouse/File Photo Acquire Licensing RightsCompanies The London Bullion Market Association FollowLONDON, Sept 14 (Reuters) - The London Bullion Market Association (LBMA) on Thursday called for proposals from service firms to create a secure global database that would improve trust in the gold market's value chain. Gold refineries must source gold responsibly under the industry body's accreditation requirements, allowing them access to London's bullion market, the world's largest. The group's database of Russian gold bars held by banks in London helps to prevent sanctions evasion by Russian companies. Reporting by Polina Devitt; Editing by Richard ChangOur Standards: The Thomson Reuters Trust Principles.

Persons: Denis Balibouse, Ruth Crowell, Polina Devitt, Richard Chang Organizations: REUTERS, Bullion Market, Bullion Market Association, Thomson Locations: Mendrisio, Switzerland, London

☆ Gold slips on firmer dollar ahead of US payrolls data
▼ + stars: | 2023-04-06 | by ( ) www.reuters.com time to read: +2 min

[1/2] Gold bars are pictured at the plant of gold and silver refiner and bar manufacturer Argor-Heraeus in Mendrisio, Switzerland, July 13, 2022. REUTERS/Denis Balibouse/File PhotoApril 6 (Reuters) - Gold prices fell on Thursday as the dollar firmed ahead of a much awaited U.S. non-farm payrolls report, as investors sought clarity on whether the Federal Reserve might take a breather on its monetary tightening path. * Investors now await Friday's non-farm payrolls report for March, with economists polled by Reuters expecting new jobs of about 240,000. * Markets see a 54.2% chance of the Fed standing pat on interest rates in May, according to the CME FedWatch tool. * While gold is traditionally considered a hedge against inflation, higher interest rates dim non-yielding bullion's appeal.

☆ Gold surges to 6-month high, and analysts expect new records in 2023
▼ + stars: | 2023-01-03 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

Denis Balibouse | ReutersLONDON — The price of gold notched a six-month high early on Tuesday, and analysts believe the rally has further to go in 2023. Looking ahead, Hansen suggested the key events for gold prices would be Wednesday's minutes from the latest U.S. Federal Reserve meeting and Friday's U.S. jobs report. A full dovish pivot by central banks this year would likely have major implications for gold prices, according to strategists. "It is our opinion that central banks will pivot on their rate hikes and become dovish during 2023, which will ignite an explosive move for gold for years to come. We therefore believe gold will end 2023 at least 20% higher, and we also see miners outperforming gold with a factor of two."

☆ Gold eases as U.S. dollar ticks up
▼ + stars: | 2022-12-28 | by ( ) www.cnbc.com time to read: +1 min

One kilo gold bars are pictured at the plant of gold and silver refiner and bar manufacturer Argor-Heraeus in Mendrisio, Switzerland, July 13, 2022. Gold prices eased on Wednesday pressured by an uptick in the U.S. dollar, having risen 2% in the previous session following China's decision to further ease Covid restrictions. The dollar index edged up 0.1%, making greenback-priced gold more expensive for overseas buyers. SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, said its holdings rose 0.6% to 918.51 tonnes on Tuesday. Spot silver lost 0.4% to $23.95, platinum slipped 0.5% to $1,015.17 and palladium fell 0.5% to $1,821.28.

☆ Gold rangebound as traders await economic data
▼ + stars: | 2022-12-22 | by ( ) www.cnbc.com time to read: +2 min

One kilo gold bars are pictured at the plant of gold and silver refiner and bar manufacturer Argor-Heraeus in Mendrisio, Switzerland, July 13, 2022. Gold edged up on Thursday, helped by a softer dollar in holiday-thinned trading, but prices moved in a tight range as market participants awaited economic data for further direction. Spot gold rose 0.2% to $1,818.40 per ounce as of 0225 GMT. The Federal Reserve lowered its pace of rate hikes gradually to 50 bps in December after four straight 75 bps rate hikes. However, Fed Chair Jerome Powell has signaled that the U.S. central bank will deliver more rate hikes next year.

☆ Gold eases as Fed hints at more rate hikes next year
▼ + stars: | 2022-12-15 | by ( ) www.cnbc.com time to read: +1 min

One kilo gold bars are pictured at the plant of gold and silver refiner and bar manufacturer Argor-Heraeus in Mendrisio, Switzerland, July 13, 2022. Gold prices inched down in early Asian hours on Thursday, after the U.S. Federal Reserve signaled to more interest rates hikes next year. Spot gold slipped 0.1% to $1,806.11 per ounce, as of 0035 GMT. Gold is traditionally known as an inflation hedge but higher interest rates tend to dim the bullion's appeal as it increases the opportunity cost of holding the non-yielding metal. SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, said its holdings fell 0.1% to 911.56 tons on Wednesday.

☆ Gold slips as dollar firms to kick start big data week
▼ + stars: | 2022-12-12 | by ( ) www.cnbc.com time to read: +2 min

One kilo gold bars are pictured at the plant of gold and silver refiner and bar manufacturer Argor-Heraeus in Mendrisio, Switzerland, July 13, 2022. Gold prices fell on Monday, dragged down by a firmer dollar, while investors positioned for key U.S. inflation data and the Federal Reserve's rate-hike verdict due this week. Investors will keep a close eye on Tuesday's U.S. Consumer Price Index (CPI) data and Fed's final meeting of 2022 scheduled on Dec. 13-14. Additionally, the European Central Bank (ECB) and the Bank of England (BoE) are also set to announce rate hikes this week, as policymakers continue their battle against inflation. Spot silver lost 0.8% to $23.27, platinum fell 0.5% to $1,016.88 and palladium ticked 0.6% lower to $1,938.33.

☆ Gold inches lower as dollar ticks up
▼ + stars: | 2022-12-08 | by ( ) www.cnbc.com time to read: +2 min

One kilo gold bars are pictured at the plant of gold and silver refiner and bar manufacturer Argor-Heraeus in Mendrisio, Switzerland, July 13, 2022. Gold prices eased on Thursday as the dollar recovered slightly, while market participants await further direction on U.S. rate hikes from the Federal Reserve meeting next week. Spot gold fell 0.2% to $1,783.50 per ounce, as of 0248 GMT, after rising more than 1% on Wednesday supported by a pullback in the dollar and U.S. bond yields. The dollar might get weaker and this will anchor gold a bit," Spivak said. Spot silver inched 0.6% lower to $22.60, platinum lost 0.2% to $1,000.67 and palladium was flat at $1,844.20.

☆ Gold struggles for momentum as investors await further Fed cues
▼ + stars: | 2022-12-07 | by ( ) www.cnbc.com time to read: +1 min

One kilo gold bars are pictured at the plant of gold and silver refiner and bar manufacturer Argor-Heraeus in Mendrisio, Switzerland, July 13, 2022. Gold prices struggled for momentum in early Asian trade on Wednesday as investors looked to next week's U.S. Federal Reserve policy meeting for clues on the pace of rate hikes. U.S. gold futures were flat at $1,783.10. Fed fund futures are now pricing in a 91% chance of 50-basis point (bps) rate increase in the December meeting. SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, said its holdings rose 0.3% to 906.06 tons on Tuesday.

☆ Gold regains some ground as dollar dips
▼ + stars: | 2022-12-06 | by ( ) www.cnbc.com time to read: +1 min

One kilo gold bars are pictured at the plant of gold and silver refiner and bar manufacturer Argor-Heraeus in Mendrisio, Switzerland, July 13, 2022. Gold prices edged up on Tuesday, helped by a slight pullback in the U.S. dollar, which makes the greenback-priced bullion less expensive for buyers holding other currencies. Bullion dropped from a five-month high to close 1.6% lower as the dollar rebounded after the data prompted speculation the Fed may lift interest rates more than recently projected. Higher interest rates tend to weigh on gold's appeal as they increase the opportunity cost of holding the non-yielding metal. The European Central Bank is also likely to raise interest rates by 50 bps next week amid ongoing inflationary concerns, governing council member Gabriel Makhlouf said on Monday.

☆ Gold prices inch higher on softer dollar
▼ + stars: | 2022-12-05 | by ( ) www.cnbc.com time to read: +1 min

One kilo gold bars are pictured at the plant of gold and silver refiner and bar manufacturer Argor-Heraeus in Mendrisio, Switzerland, July 13, 2022. Gold prices edged up on Monday and hovered near the key $1,800-level, as a softer U.S. dollar made the greenback-priced bullion cheaper for buyers holding other currencies. Spot gold rose 0.1% to $1,800.02 per ounce as of 0027 GMT. Lower interest rates tend to be beneficial for gold as it reduces the opportunity cost of holding the non-yielding asset. Physical gold demand stalled in India last week on higher prices, while premiums fell in top consumer China as Covid-19 restrictions dulled activity.

☆ Gold flat; set for best week in three on smaller rate-hike bets
▼ + stars: | 2022-12-02 | by ( ) www.cnbc.com time to read: +2 min

One kilo gold bars are pictured at the plant of gold and silver refiner and bar manufacturer Argor-Heraeus in Mendrisio, Switzerland, July 13, 2022. Gold prices were flat on Friday but set for their best week in three ahead of the U.S. jobs report, helped by the dollar's retreat on expectations that the U.S. Federal Reserve will slow the pace of interest rate hikes. Spot gold was little changed at $1,800.78 per ounce as of 0037 GMT, after hitting its highest level since Aug. 10 earlier in the session. Fed Chair Jerome Powell on Wednesday said the U.S. central bank might scale back the pace of its interest rate hikes as soon as December. SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, said its holdings fell 0.16% on Thursday.

☆ Gold flat as traders brace for Powell's speech
▼ + stars: | 2022-11-30 | by ( ) www.cnbc.com time to read: +1 min

One kilo gold bars are pictured at the plant of gold and silver refiner and bar manufacturer Argor-Heraeus in Mendrisio, Switzerland, July 13, 2022. Gold prices were little changed on Wednesday, with investors largely focusing on Federal Reserve Chair Jerome Powell's speech for insights into the U.S. central bank's monetary policy path. Spot gold was flat at $1,750.00 per ounce, as of 0019 GMT. Powell's speech at a Brookings Institution event scheduled for 1830 GMT will be evaluated for any new signs of hawkishness. Spot silver slipped 0.2% to $21.23, platinum fell 0.1% to $1,000.88 and palladium rose 0.2% to $1,837.58.

☆ Gold edges up on dollar dip; Fed policy cues remain key
▼ + stars: | 2022-11-29 | by ( ) www.cnbc.com time to read: +1 min

One kilo gold bars are pictured at the plant of gold and silver refiner and bar manufacturer Argor-Heraeus in Mendrisio, Switzerland, July 13, 2022. Gold prices ticked up on Tuesday, helped by a softer dollar, while market participants awaited more clarity on the U.S. Federal Reserve's rate hike stance. Fed Presidents James Bullard and John Williams said there was a long way to go to fight inflation. Gold is also sensitive to rising interest rates as they increase the opportunity cost of holding the non-yielding asset. "Investors will now turn attention to U.S. economic data this week for any signs the Fed may ease its aggressive rate hikes," ANZ said in a note.

☆ Gold dips as dollar gains on China Covid risks
▼ + stars: | 2022-11-28 | by ( ) www.cnbc.com time to read: +2 min

One kilo gold bars are pictured at the plant of gold and silver refiner and bar manufacturer Argor-Heraeus in Mendrisio, Switzerland, July 13, 2022. Gold prices slipped on Monday, as the dollar strengthened on safe-haven demand triggered by protests in several Chinese cities over the country's strict Covid-19 restrictions. "Gold prices have been tracking the U.S. dollar's moves closely, and increased uncertainty from the growing unrest in China seems to be underpinning the dollar this morning," said IG market strategist Yeap Jun Rong. People may be shifting to defensive assets considering the Covid situation in China, but the dollar's gains are currently overshadowing gold's safe-haven status, Yeap said. Spot silver slipped 1.8% to $21.21, platinum fell 0.3% to $978.00 and palladium declined 0.3% to $1,846.94.

☆ Gold advances as Fed signals slower rate hikes
▼ + stars: | 2022-11-24 | by ( ) www.cnbc.com time to read: +2 min

One kilo gold bars are pictured at the plant of gold and silver refiner and bar manufacturer Argor-Heraeus in Mendrisio, Switzerland, July 13, 2022. Gold prices bounced above the key $1,750 an ounce level on Thursday, consolidating gains after minutes of the U.S. Federal Reserve's latest meeting signalled slower interest rate hikes. Spot gold rose 0.4% to $1,755.73 per ounce by 0321 GMT. The minutes of the Fed's Nov. 1-2 meeting showed that a "substantial majority" of Fed policymakers agreed it would "likely soon be appropriate" to slow the pace of interest rate hikes. Spot silver rose 0.5% to $21.62 per ounce, platinum added 0.3% to $999.38, while palladium gained 0.7% to $1,894.75.

☆ Gold flat as market awaits Fed minutes for rate-hike path
▼ + stars: | 2022-11-23 | by ( ) www.cnbc.com time to read: +2 min

One kilo gold bars are pictured at the plant of gold and silver refiner and bar manufacturer Argor-Heraeus in Mendrisio, Switzerland, July 13, 2022. Gold prices were flat on Wednesday, as investors held back from making big bets ahead of the U.S. Federal Reserve's latest policy meeting minutes, which could offer clues on further interest rate hikes. "There is some nervousness in the market ahead of the Fed minutes," said Edward Meir, an analyst with ED&F Man Capital Markets. Market participants are awaiting the minutes of Fed's Nov. 1-2 policy meeting due at 1900 GMT. Although gold is seen as a hedge against inflation, rising U.S. interest rates dull non-yielding bullion's appeal.

☆ Gold ticks up as dollar pauses advance; focus on Fed minutes
▼ + stars: | 2022-11-22 | by ( ) www.cnbc.com time to read: +1 min

One kilo gold bars are pictured at the plant of gold and silver refiner and bar manufacturer Argor-Heraeus in Mendrisio, Switzerland, July 13, 2022. Spot gold rose 0.2% to $1,740.56 per ounce by 0033 GMT. San Francisco Federal Reserve President Mary Daly said on Monday the real-world impact of the U.S. central bank's interest rate hikes is likely greater than what its short-term rate target implies. SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, said its holdings rose 0.2% to 906.06 tons on Monday. Spot silver advanced 0.4% to $20.92 per ounce, platinum also rose 0.3% to $985.30, while palladium added 0.6% to $1,877.14.

☆ Gold bound for weekly decline on hawkish Fed cues
▼ + stars: | 2022-11-18 | by ( ) www.cnbc.com time to read: +2 min

One kilo gold bars are pictured at the plant of gold and silver refiner and bar manufacturer Argor-Heraeus in Mendrisio, Switzerland, July 13, 2022. Gold prices edged up on Friday on a pullback in the dollar but were still bound for their first weekly decline in three, weighed down by signals from U.S. central bankers that more interest rate hikes were on the way. Spot gold rose 0.1% to $1,763.17 per ounce by 0303 GMT, en route to a weekly decline of about 0.4%. Offering some respite to gold, the dollar index, a rival safe haven, inched lower, making bullion cheaper for overseas buyers. Among other metals, spot silver rose 0.8% to $21.11 per ounce, platinum added 0.4% to $984.50, and palladium XPD= climbed 0.7% to $2,020.21.

☆ Gold flat as geopolitical tensions ease; focus on future Fed path
▼ + stars: | 2022-11-17 | by ( ) www.cnbc.com time to read: +2 min

One kilo gold bars are pictured at the plant of gold and silver refiner and bar manufacturer Argor-Heraeus in Mendrisio, Switzerland, July 13, 2022. Gold prices were flat on Thursday as safe-haven demand from latest geopolitical concerns faded, while hopes that the U.S. Federal Reserve would be less aggressive on rate hikes over coming months underpinned the market. Gold prices hit a three-month peak of $1,786.35 per ounce on Tuesday, after news that Russian missiles killed two people in Poland near the Ukraine border. Focus remained on Fed's interest rate strategy, with traders pricing in a 93% probability of a 50 basis-point of rate hike at the U.S. central bank's December meeting. U.S. 10-year Treasury yields were hovering near a one-month low, reducing the opportunity cost of holding non-interest bearing gold.

☆ Gold firms on Fed slowdown hopes, latest Russia jitters
▼ + stars: | 2022-11-16 | by ( ) www.cnbc.com time to read: +1 min

One kilo gold bars are pictured at the plant of gold and silver refiner and bar manufacturer Argor-Heraeus in Mendrisio, Switzerland, July 13, 2022. Spot gold held its ground at $1,776.50 per ounce, as of 0103 GMT, after hitting its highest since Aug. 15 in the previous session. U.S. gold futures rose 0.2% at $1,780.40 per ounce. But, safe-haven gains for the dollar limited greenback-priced gold's advance as the U.S. unit rose 0.2% against its rivals. Spot silver eased 0.2% to $21.48 per ounce.

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