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☆ Gold rises on subdued dollar, US data in spotlight
▼ + stars: | 2023-04-27 | by ( Arundhati Sarkar | ) www.reuters.com time to read: +2 min

Spot gold rose 0.4% to $1,996.50 per ounce by 0230 GMT, while U.S. gold futures climbed 0.5% to $2,005.20. Making bullion less expensive for other currencies holders, the dollar index eased 0.1% on the day. The U.S. House of Representatives on Wednesday narrowly passed a bill to raise the government's $31.4 trillion debt ceiling. Therefore, given the "uneasy tone with the banking situation" and the "debt ceiling uncertainties, gold will probably be more sensitive to the upside than to the downside," Meir said. Elsewhere, spot silver rose 0.5% to $25.02 per ounce, platinum added 0.3% to $1,092.68, and palladium ticked 0.1% up to $1,513.81.

☆ 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 holds tight range as traders seek direction from US data
▼ + stars: | 2023-04-26 | by ( Arundhati Sarkar | ) www.reuters.com time to read: +2 min

Spot gold held its ground at $1,997.40 per ounce by 0307 GMT. Investors seemed reluctant to offload their gold holdings amid weak U.S. economic data, and "trading conditions will remain choppy, and any dips towards $1,950 could be snapped up," said Matt Simpson, a senior market analyst at City Index. 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. Although gold is considered a hedge against inflation and economic uncertainty, higher interest rates dim the non-yielding asset's appeal. Palladium gained 1.1% to $1,499.47, on track to snap two session of losses, if gains hold.

☆ Gold rises as traders hunker down for economic cues
▼ + stars: | 2023-04-25 | by ( ) www.cnbc.com time to read: +2 min

Spot gold was up 0.35% to $1,996.12 per ounce, while U.S. gold futures settled 0.34% higher at $2,006.60. The rival safe-haven dollar rose 0.5%, making bullion more expensive for buyers holding other currencies, while benchmark 10-year Treasury yields fell by their largest amount since March. A weak U.S. consumer confidence report and lackluster manufacturing data fanned fears of economic slowdown, lowering the bets for a rate hike next week. While gold is considered a safe haven during economic uncertainties, higher interest rates dull appeal for zero-yield bullion. Traders also took stock of U.S. Treasury Secretary Janet Yellen's warning that failure by Congress to raise the government's debt ceiling would trigger an "economic catastrophe" that would send interest rates higher for years to come.

☆ Gold prices subdued as caution sets in ahead of cenbank meetings
▼ + stars: | 2023-04-24 | by ( ) www.cnbc.com time to read: +2 min

Gold headed for its second decline in three sessions as strength in the dollar and equities diminished demand for the metal as an alternative asset. Gold is highly sensitive to rising interest rates, which raise the opportunity cost of holding non-interest bearing bullion. "Some firming in U.S. Treasury yields following last Friday's flash PMI data are keeping the downward pressure on gold prices," said Yeap Jun Rong, a market analyst at IG. Gold prices dropped by more than 1% on Friday after the release of surveys that showed the U.S. and euro zone business activity gathered pace in April. Moreover, the European Central Bank is expected to hike rates by a quarter percentage point on May 4, with some likelihood for a half-point hike.

Russia has 110 official billionaires in the list, up 22 from last year, according to Forbes' Russian edition, which said their total wealth increased to $505 billion from $353 billion when the 2022 list was announced. "Last year's rating results were also influenced by apocalyptic predictions about the Russian economy," Forbes said, adding that the total wealth of Russia's billionaires was $606 billion in 2021, before the war began. The price of Urals oil, the lifeblood of the Russian economy, averaged $76.09 per barrel in 2022, up from $69 in 2021. Many Russian billionaires cast Western sanctions as a clumsy, and even racist, tool. New Russian names in the Forbes list include billionaires who made their money in snacks, supermarkets, chemicals, building and pharmaceuticals, indicating that Russian domestic demand has remained strong despite the sanctions.

☆ Gold retreats to weekly loss on hawkish Fed
▼ + stars: | 2023-04-21 | by ( ) www.cnbc.com time to read: +2 min

Gold fell sharply on Friday and was headed for its worst week in eight as hawkish remarks by U.S. Federal Reserve officials through the week bolstered bets for at least one more interest rate hike and buoyed the dollar. Spot gold dropped 1.4% to $1,976.27 per ounce by 12:18 p.m. U.S. gold futures fell 1.5% to $1,987.10. Bullion has shed about 1.2% so far this week, pressured by the dollar's gains overall, which made bullion more expensive for overseas buyers. Markets now see an 89% chance of a 25-basis point rate hike at the Fed's May 2-3 meeting.

☆ Gold prices ease with Fed rate trajectory in focus
▼ + stars: | 2023-04-21 | by ( Kavya Guduru | ) www.reuters.com time to read: +2 min

Spot gold was down 0.1% at $2,001.75 per ounce, as of 0342 GMT, after rising 1% on Thursday. Gold prices have been moderating in the absence of real incoming news flow and "we really need to see some bigger pieces of information to give it that directional conviction", said Ilya Spivak, head of global macro at Tastylive. "Gold pushed back above $2,000/oz as the weaker economic outlook is enticing safe-haven buying," ANZ said in a note. Rate hikes raise the opportunity cost of holding non-interest-bearing gold. Spot silver dipped 0.3% to $25.22 per ounce, while platinum was flat at $1,093.33 and palladium rose 0.5% to $1,594.26.

☆ Gold prices ease with cenbank rate moves in focus
▼ + stars: | 2023-04-20 | by ( Kavya Guduru | ) www.reuters.com time to read: +2 min

Spot gold was down 0.1% at $1,992.23 per ounce, as of 0332 GMT. "Despite gold's break below $1,980 yesterday, investors were quick to snap up the quick discount and drive spot prices back above this key support level... New York Fed President John Williams said on Wednesday that inflation is still at problematic levels and the Fed will act to lower it. Rate hikes reduce non-interest bearing gold's appeal as it raises the metal's opportunity cost. Spot silver lost 0.5% at $25.12 per ounce, platinum fell 0.4% to $1,085.81 and palladium dipped 0.5% to $1,607.49.

☆ Gold prices ease with central bank rate moves in focus
▼ + stars: | 2023-04-20 | by ( ) www.cnbc.com time to read: +2 min

Gold prices inched down on Thursday, after hitting a more than two-week low in the previous session, as investors grappled with the likelihood of more interest rate hikes by central banks to contain inflationary pressures. Spot gold was down 0.1% at $1,992.23 per ounce, as of 0332 GMT. "Despite gold's break below $1,980 yesterday, investors were quick to snap up the quick discount and drive spot prices back above this key support level ... Rate hikes reduce non-interest bearing gold's appeal as it raises the metal's opportunity cost. "A slew of hawkish comments from the Fed, European Central Bank and Swiss National Bank combined with stubbornly high U.K. inflation has investors second-guessing their calls for rate cuts this year," Simpson added.

☆ Gold slips on firmer dollar, Fed rate outlook
▼ + stars: | 2023-04-19 | by ( ) www.cnbc.com time to read: +2 min

Gold prices fell on Wednesday as the U.S. dollar regained some ground, while investors assessed the chances of the Federal Reserve raising interest rates just once more in May before pausing. Higher interest rates dim non-yielding bullion's appeal. The Fed should continue raising rates on the back of recent data showing inflation remains persistent, St. Louis Fed President James Bullard said on Tuesday. But Atlanta Fed President Raphael Bostic said one more hike "should be enough" before taking a step back to "see how our policy is flowing through the economy." Markets see a 95% chance of the Bank of England raising interest rates next month.

☆ Gold drifts lower on firmer dollar, Fed rate outlook
▼ + stars: | 2023-04-19 | by ( Kavya Guduru | ) www.reuters.com time to read: +2 min

SummarySummary Companies US dollar up 0.1%Markets pricing in 25 bps rate hike by Fed in MayApril 19 (Reuters) - Gold prices edged lower on Wednesday as the U.S. dollar regained some ground, while traders assessed chances of the U.S. Federal Reserve raising interest rates just once more in May before pausing. Spot gold was down 0.1% at $2,003.03 per ounce, as of 0337 GMT. The dollar index was up 0.1%, making gold expensive for buyers holding other currencies. "While that may provide an anchor for gold prices, given the recent rally and overextended technical conditions, the possibility of some unwinding (in prices) upon validation of the Fed's rate outlook may still remain on the table." Gold is considered a hedge against inflation, but higher interest rates dim the non-yielding asset's appeal.

☆ Gold off one-year highs as investors weigh rate hike prospects
▼ + stars: | 2023-04-17 | by ( Kavya Guduru | ) www.reuters.com time to read: +2 min

SummarySummary Companies Gold prices biased for a grind higher - analystsMarkets pricing in Fed 25-bps rate hike in MayU.S. dollar up 0.1%April 17 (Reuters) - Gold prices inched higher on Monday but were off one-year highs reached late last week as mixed economic data prompted investors to reassess the U.S. Federal Reserve's rate hike trajectory and boosted the dollar. Spot gold was up 0.1% at $2,004.74 per ounce, as of 0353 GMT. The dollar index was 0.1% higher, making bullion expensive for overseas buyers. Other data showed households expected inflation to rise over the next 12 months. The CME FedWatch tool shows markets are pricing in a 80.9% chance of a 25 basis point hike in May.

☆ Gold set for second weekly gain as weak dollar, Fed pause bets lift appeal
▼ + stars: | 2023-04-14 | by ( ) www.cnbc.com time to read: +2 min

Gold bars are displayed at a bullion merchant's, Baird & Co., in London, U.K., on Friday, March 14, 2008. Gold prices edged higher on Friday, set for a second consecutive weekly gain, as the U.S. dollar tumbled and recent economic data prompted bets that the Federal Reserve is nearing the end of its rate-hike cycle. Spot gold was up 0.2% at $2,044.09 per ounce, as of 0355 GMT, hovering near a one-year high reached on Thursday. The dollar index slid to a one-year low, making bullion cheaper for buyers holding other currencies. Gold is considered a hedge against inflation and economic uncertainties, but higher interest rates dim non-yielding bullion's appeal.

☆ Gold set for 2nd weekly gain on weak dollar, Fed pause hopes
▼ + stars: | 2023-04-14 | by ( Kavya Guduru | ) www.reuters.com time to read: +2 min

Spot gold was up 0.1% at $2,042.01 per ounce, as of 0534 GMT, hovering near a one-year high reached on Thursday. The dollar index slid to a one-year low, making bullion cheaper for buyers holding other currencies. Data this week showed the U.S. producer price index in March dropped the most since April 2020, while the consumer price index rose less than expected. Gold is considered a hedge against inflation and economic uncertainties, but higher interest rates dim non-yielding bullion's appeal. Spot silver rose 0.5% to $25.90 per ounce, hitting a one-year peak earlier, while platinum gained 0.5% at $1,051.93.

☆ Gold ticks up as US inflation data fuels bets for rate-hike pause
▼ + stars: | 2023-04-13 | by ( Kavya Guduru | ) www.reuters.com time to read: +2 min

SummarySummary Companies Gold advances for third consecutive sessionMarkets pricing in 25-bp rate hike in MayApril 13 (Reuters) - Gold prices inched higher for a third consecutive session on Thursday, as cooler-than-expected U.S. inflation data spurred bets that the Federal Reserve might raise rates once more next month before pausing hikes. Spot gold was up 0.1% at $2,016.99 per ounce, as of 0332 GMT. Gold prices rose more than 1% on Wednesday after data showed the U.S. Consumer Price Index (CPI) rose 0.1% last month, compared with expectations for a 0.2% increase, after advancing 0.4% in February. Gold is considered an inflation hedge, but rising interest rates reduce the appeal of non-yielding bullion. Recession concerns are "allowing gold prices to ride on its safe-haven status... while technical conditions are revealing some moderation in upward momentum on recent highs," IG's Yeap added.

☆ Gold ticks up as U.S. inflation data fuels bets for rate hike pause
▼ + stars: | 2023-04-13 | by ( ) www.cnbc.com time to read: +2 min

Gold prices inched higher for a third consecutive session on Thursday, as milder-than-expected U.S. inflation data prompted bets that the Federal Reserve might raise rates just once more before pausing. U.S. gold futures rose 0.3% to $2,031.40. Gold prices rose over 1% on Wednesday after data showed the U.S. Consumer Price Index rose 0.1% last month, compared with expectations of a 0.2% increase, after advancing 0.4% in February. Recession concerns are "allowing gold prices to ride on its safe-haven status ... while technical conditions are revealing some moderation in upward momentum on recent highs," IG's Yeap said. Spot silver fell 0.3% to $25.39 per ounce, platinum lost 0.3% to $1,011.86 and palladium dipped 0.5% to $1,452.08.

☆ Gold gains as traders gear up for US inflation data
▼ + stars: | 2023-04-12 | by ( Kavya Guduru | ) www.reuters.com time to read: +2 min

SummarySummary Companies All eyes on CPI data due at 1230 GMTA soft inflation print could send gold above $2,032 - analystApril 12 (Reuters) - Gold prices gained on Wednesday as investors keenly await key U.S. inflation data for signs of how close interest rates are to peaking. Gold is considered an inflation hedge, but rising interest rates reduce the appeal of non-yielding bullion. Gold could continue to drift higher "as early birds place their bets on a soft inflation report," said Matt Simpson, senior market analyst at City Index. "A soft inflation print could send gold prices above $2,032 to mark a fresh YTD high, given the inverted yield curve, talks of soft growth and rise of geopolitical tensions across parts of Asia." A "weaker U.S. dollar and returning investment flows have been holding (gold) prices, ANZ said in a note.

☆ Gold gains as traders gear up for U.S. inflation data
▼ + stars: | 2023-04-12 | by ( ) www.cnbc.com time to read: +2 min

Gold prices gained on Wednesday as investors keenly await key U.S. inflation data for signs of how close interest rates are to peaking. Gold could continue to drift higher "as early birds place their bets on a soft inflation report," said Matt Simpson, senior market analyst at City Index. "A soft inflation print could send gold prices above $2,032 to mark a fresh YTD high, given the inverted yield curve, talks of soft growth and rise of geopolitical tensions across parts of Asia." Philadelphia Fed Bank President Patrick Harker on Tuesday said he feels the Fed may soon be done raising rates, while New York Fed President John Williams said the Fed's policy path will depend on incoming data. A "weaker U.S. dollar and returning investment flows have been holding (gold) prices," ANZ said in a note.

☆ Gold advances on softer dollar as traders await US inflation data
▼ + stars: | 2023-04-11 | by ( Kavya Guduru | ) www.reuters.com time to read: +2 min

U.S. gold futures rose 0.4% to $2,012.30. Traders are now focussing on the U.S. consumer price data due Wednesday for more clarity on the path of rates heading into the Fed's May policy meeting. The opportunity cost of holding the non-yielding bullion rises when interest rates are increased to bring down inflation. "Near-term, there are also bearish technical setups for a corrective move lower" in gold prices, OCBC's Wong added. Data on Tuesday showed top bullion consumer China's March consumer inflation hit the slowest pace since September 2021 and suggested demand weakness persisted amid an uneven economic recovery.

☆ Gold advances on softer dollar as traders await U.S. inflation data
▼ + stars: | 2023-04-11 | by ( ) www.cnbc.com time to read: +2 min

A mark of 999.9 fine sits on hallmarked one kilogram gold bullion bars at the Valcambi SA precious metal refinery in Lugano, Switzerland, on April 24, 2018. Gold prices gained on Tuesday after falling over 1% in the previous session, as the dollar eased ahead of key U.S. inflation data. U.S. gold futures rose 0.5% to $2,013.30. The opportunity cost of holding the non-yielding bullion rises when interest rates are raised to bring down inflation. Data on Tuesday showed top bullion consumer China's March consumer inflation hit the slowest pace since September 2021 and suggested demand weakness persisted amid an uneven economic recovery.

☆ Gold slides 1% after US jobs data raises rate hike bets
▼ + stars: | 2023-04-10 | by ( Kavya Guduru | ) www.reuters.com time to read: +2 min

SummarySummary Companies Gold slips below $2,000/ozMarch U.S. payrolls rise by 236,00066% chance seen of Fed rate hike in May- CME Fedwatch ToolApril 10 (Reuters) - Gold prices fell about 1% to slip below $2,000 on Monday, after U.S. employment data pointed to a tight labour market and raised expectations of another rate hike by the Federal Reserve in May. Friday's data from the U.S. Labor Department showed non-farm payrolls increased by 236,000 jobs in March, versus expectations of 239,000. The data also showed the unemployment rate dipped to 3.5% from 3.6% in the prior month. The report raised bets that the U.S. central bank would increase rates next month, with markets pricing in a 66% chance of a 25 basis-point (bps) rate hike, according to the CME FedWatch tool. Gold is traditionally considered a hedge against inflation, but higher rates increase the opportunity cost of holding the non-yielding asset.

☆ Gold slides 1% after U.S. jobs data raises rate hike bets
▼ + stars: | 2023-04-10 | by ( ) www.cnbc.com time to read: +2 min

An Argor-Heraeus SA branded two hundred and fifty gram gold bar, center, sits in this arranged photograph at Solar Capital Gold Zrt. Gold prices fell about 1% to slip below $2,000 on Monday, after U.S. employment data pointed to a tight labor market and raised expectations of another rate hike by the Federal Reserve in May. Friday's data from the U.S. Labor Department showed non-farm payrolls increased by 236,000 jobs in March, versus expectations of 239,000. The data also showed the unemployment rate dipped to 3.5% from 3.6% in the prior month. The report raised bets that the U.S. central bank would increase rates next month, with markets pricing in a 66% chance of a 25 basis-point (bps) rate hike, according to the CME FedWatch tool.

☆ 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 off one-year highs as dollar firms ahead of U.S. payrolls data
▼ + stars: | 2023-04-06 | by ( ) www.cnbc.com time to read: +2 min

Gold prices slipped from one-year highs on Thursday as the dollar regained some ground, while investors awaited the U.S. non-farm payrolls report to gage the Federal Reserve's monetary policy strategy. The economic data points this week were major components supporting gold prices, he added, while also noting some profit-booking ahead of the Good Friday holiday. Wednesday's data showed the U.S. services sector slowed more than expected in March. While gold is traditionally considered a hedge against inflation and economic uncertainties, higher interest rates dim non-yielding bullion's appeal. Markets see a 53.8% chance of the Fed standing pat on interest rates in May, according to CME's FedWatch tool.

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