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☆ Gold rebounds but holds below $1,900/oz level on Fed fears, firm dollar
▼ + stars: | 2023-02-06 | by ( ) www.cnbc.com time to read: +2 min

Twenty kilogram gold and silver bricks sit at the ABC Refinery smelter in Sydney, New South Wales, Australia, on Thursday, July 2, 2020. Gold prices regained some ground on Monday but a firmer dollar and concerns that the U.S. Federal Reserve might keep hiking interest rates kept bullion below the key $1,900-an-ounce level. Spot gold was up 0.4% at $1,872.96 per ounce, as of 0257 GMT, after hitting its lowest level since Jan. 6 earlier in the session. Those bets helped the dollar index rise 0.2%, adding pressure on gold by raising its cost for buyers holding other currencies. Spot silver edged up 0.2% to $22.39 per ounce, platinum was little changed at $973.88 and palladium added 0.2% to $1,626.38.

☆ Gold steadies after steep sell-off, but bound for weekly drop
▼ + stars: | 2023-02-03 | by ( ) www.cnbc.com time to read: +2 min

Gold bullion bars are pictured after being inspected and polished at the ABC Refinery in Sydney on August 5, 2020. Gold prices steadied on Friday after a sharp sell-off in the previous session, as traders digested rate-hike remarks from global central banks, but the metal was set for its first weekly drop in seven amid a strong dollar. Therefore, it may trigger some near-term profit-taking, "but for gold prices, a greater conviction for sellers could be a break below the $1,895 level, where dip-buyers were seen stepping in this week just before the meeting," the analyst added. Gold prices have gained about $300 since November on expectations of softer rate hikes from the U.S. central bank, as a lower interest rate environment reduces the opportunity cost of holding non-yielding bullion. The U.S. dollar, meanwhile, was up 0.1%, keeping a leash on gold prices.

☆ Gold hits more than 9-month high after Powell strikes dovish tone
▼ + stars: | 2023-02-02 | by ( ) www.cnbc.com time to read: +2 min

Spot gold was up 0.2% at $1,953.76 per ounce, as of 0206 GMT, after hitting its highest since April 2022 earlier in the session. U.S. gold futures rose 1.3% to $1,967.50. However, Powell warned of further monetary policy tightening while noting the progress on disinflation, which he said was in its early stages. "Although Powell said rate hikes might continue, the market expects the Fed not to be drastic anymore, which is supporting gold. Gold tends to benefit in a lower interest rate environment, as it reduces the opportunity cost of holding non-yielding bullion.

☆ Gold edges higher, on track for third straight monthly gain
▼ + stars: | 2023-01-31 | 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. Spot gold rose 0.2% to $1,925.39 per ounce as of 0257 GMT and was headed for a monthly gain of more than 5%. The dollar index was down 0.1% and was set for a fourth straight monthly drop. The U.S. central bank slowed its tightening pace to 50 bps in December after four straight 75-bp hikes. The gold market has already priced in a 25 bps hike, if the Fed strikes a dovish tone, then it will be positive for gold," said Ajay Kedia, director at Kedia Commodities, Mumbai.

☆ Gold ticks up as dollar slips ahead of Fed meeting
▼ + stars: | 2023-01-30 | by ( ) www.cnbc.com time to read: +2 min

Pure 1,000-gram gold bars produced by South Korea's LS-Nikko are stacked in a dealers room in Seoul on January 9, 2009. Gold prices inched higher on Monday as the U.S. dollar eased, while market participants globally awaited a slew of central bank meetings with the main focus on the Federal Reserve. Spot gold rose 0.3% to $1,932.84 per ounce, as of 0457 GMT. The European Central Bank (ECB) and the Bank of England (BoE) are also having policy meetings this week. Spot silver gained 0.6% to $23.70 per ounce, platinum rose 0.6% to $1,017.69, and palladium climbed 1.7% to $1,646.41.

☆ Electric vehicles throw Palladium's mega-rally into reverse
▼ + stars: | 2023-01-27 | by ( Peter Hobson | ) www.reuters.com time to read: +2 min

(Graphic: Palladium's rally, )Powering the rally was rising demand from automakers who needed more palladium per vehicle to meet tightening emissions standards. Electric vehicles (EVs) that do not need palladium are gaining market share and automakers are substituting some palladium for cheaper platinum in combustion engine vehicles. (Graphic: Palladium supply from recycled vehicles, )That will shift the roughly 11 million ounce a year market to a surplus of nearly a million ounces in 2027, they said. (Graphic: Palladium market balance, )But it is too early to rule out short-term upward moves. (Graphic: Palladium speculators, )

☆ Gold slips as dollar firms ahead of U.S. inflation data
▼ + stars: | 2023-01-27 | by ( Ashitha Shivaprasad | ) www.reuters.com time to read: +2 min

Spot gold was down 0.3% at $1,923.33 per ounce, as of 0648 GMT, shedding 0.2% so far in the week. Gold is seeing a pull-back as the dollar is on the higher side and the U.S. GDP data is also slightly pressuring prices, said Ajay Kedia, director at Kedia Commodities, Mumbai. Data on Thursday showed the U.S. economy grew at a faster pace in the December quarter than economists had expected, prompting bets the Fed would keep rates higher for longer. Investors are now awaiting U.S. personal consumption expenditures (PCE) data, the Fed's preferred inflation measure, at 1330 GMT for cues on the central bank's path forward. A downside surprise in the data may point towards a less-hawkish Fed, which could drive gold prices higher in the longer run, said IG Market strategist Yeap Jun Rong.

☆ Gold little changed ahead of U.S. inflation data
▼ + stars: | 2023-01-27 | by ( ) www.cnbc.com time to read: +1 min

Gold prices were little changed on Friday as traders awaited U.S. inflation data, due later in the day, to gauge the Federal Reserve's stance on further interest rate hikes. Spot gold was flat at $1,927.99 per ounce as of 0234 GMT, while U.S. gold futures were off 0.1% at $1,928.30. Investors are now awaiting U.S. personal consumption expenditures (PCE) data, the Fed's preferred inflation measure, at 1330 GMT for cues on the central bank's path forward. The GDP data points to a resilient U.S. economy but there were some signs of challenges to the economy, which kindled some hopes of a less aggressive Fed, Yeap said. Lower interest rates tend to be beneficial for bullion as it lowers the opportunity cost of holding the non-yielding asset.

☆ Gold steadies near nine-month peak with spotlight on U.S. data
▼ + stars: | 2023-01-26 | by ( ) www.cnbc.com time to read: +1 min

Gold prices hit a nine-month high on Thursday before trading steady, as investors hunkered down for U.S. economic data that could influence the Federal Reserve's policy tightening path. Spot gold was flat at $1,944.96 per ounce, as of 0244 GMT, after hitting its highest since April 2022. "The key question for investors will be how much dollar will strengthen and how this will impact gold prices in near-term." Investors will also scan the U.S. weekly initial jobless claims data due later in the day and U.S. personal consumption expenditures (PCE) data on Friday. Spot silver fell 0.2% to $23.85 per ounce, platinum lost 0.4% to $1,035.16, and palladium was down 0.2% to $1,695.29.

☆ Gold holds tight range ahead of U.S. economic data
▼ + stars: | 2023-01-25 | by ( ) www.cnbc.com time to read: +1 min

Gold prices traded in a tight range on Wednesday as investors stayed away from taking big bets ahead of U.S. economic growth data this week, while expectations of slower interest rate hikes from the Federal Reserve kept bullion's outlook bright. Spot gold was steady at $1,937.09 per ounce, as of 0249 GMT, after hitting its highest since late April 2022 on Tuesday. Most investors are expecting the Fed to raise rates by 25 basis points (bps) at its policy meeting next week. With lower interest rates translating into lesser returns on interest-bearing assets like government bonds, investors may prefer zero-yield gold. Data showed on Tuesday Swiss exports of gold to countries including China, Turkey, Singapore and Thailand surged to multi-year highs in 2022.

☆ Potanin says sanctions constrain Nornickel, force it to adjust strategy
▼ + stars: | 2023-01-23 | by ( ) www.reuters.com time to read: +3 min

[1/2] President and Chairman of the Board of MMC Norilsk Nickel Vladimir Potanin attends a session of the St. Petersburg International Economic Forum (SPIEF), Russia June 6, 2019. REUTERS/Maxim ShemetovJan 23 (Reuters) - Nornickel boss Vladimir Potanin, one of Russia’s richest men, said on Monday that the metals giant was reworking its strategy and building closer ties with countries such as China, Turkey and Morocco because of Western sanctions on the Russian economy. We have to deal with all this," added Potanin, who is Nornickel's (GMKN.MM) chief executive and biggest shareholder, owning 36% through his Interros holding group. Potanin reiterated the view he stated soon after the war began, that Russia should not respond to sanctions by confiscating or nationalising Western assets. Potanin was placed on a U.S. sanctions list last month as part of wider measures targeting people and businesses close to President Vladimir Putin.

☆ Gold set for fifth straight weekly rise on Fed slowdown bets
▼ + stars: | 2023-01-20 | by ( Ashitha Shivaprasad | ) www.reuters.com time to read: +2 min

Spot gold was little changed at $1,930.04 per ounce, as of 0308 GMT and was up 0.5% for the week. With lower rates translating into lesser returns on interest-bearing assets like government bonds, investors may prefer zero-yield gold. The dollar index was headed for a second consecutive weekly drop, making bullion cheaper for overseas buyers. Both metals headed for a second straight week of declines. Reporting by Ashitha Shivaprasad in Bengaluru; Editing by Rashmi Aich and Eileen SorengOur Standards: The Thomson Reuters Trust Principles.

☆ 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 edges higher as investors weigh Fed slowdown chances
▼ + stars: | 2023-01-19 | by ( Ashitha Shivaprasad | ) www.reuters.com time to read: +2 min

Spot gold was up 0.1% at $1,906.01 per ounce, as of 0252 GMT. U.S. gold futures fell 0.1% to $1,906.00. Few Fed officials signalled on Wednesday that they would push on with more interest rate hikes, while Philadelphia Fed President Patrick Harker and Dallas Fed President Lorie Logan said they supported a slower pace of tightening. Lower interest rates tend to boost bullion's appeal as they decrease the opportunity cost of holding the non-yielding asset. Spot silver lost 0.2% to $23.38 per ounce, platinum was flat at $1,038.38, and palladium fell 0.1% to $1,716.13.

☆ Gold slips as dollar gains momentum
▼ + stars: | 2023-01-18 | by ( Ashitha Shivaprasad | ) www.reuters.com time to read: +2 min

SummarySummary Companies Gold will bounce around $1,900 level in near term - analystBarrick set to report highest quarterly gold output for 2022Jan 18 (Reuters) - Gold prices inched lower on Wednesday as the U.S. dollar firmed, while expectations of a slowdown in the pace of Federal Reserve interest rate hikes limited the losses. A stronger dollar tends to make gold more expensive for buyers holding other currencies. If the narrative continues to be that inflation is cooling and interest rates will come down, then it will be bullish for gold." FEDWATCHLower interest rates tend to be beneficial for bullion, decreasing the opportunity cost of holding the non-yielding asset. On the physical front, Canadian miner Barrick Gold Corp (ABX.TO) reported on Tuesday a 13.4% sequential rise in gold production in what could be its highest quarterly output last year.

☆ Gold nudges lower as Fed members bat for higher interest rates
▼ + stars: | 2023-01-18 | by ( ) www.cnbc.com time to read: +2 min

Gold prices held steady near the key psychological level of $1,800 per ounce on Monday, supported by a pullback in the dollar and U.S. Treasury yields. Gold prices turned negative on Wednesday, erasing gains made on weak U.S. economic data yet staying above the $1,900 level, as key members of the Federal Reserve signaled their intent to keep pushing interest rates higher to combat inflation. The dollar pared losses from near multi-month lows and held steady, making gold less attractive for other currency holders. Spot gold fell 0.2% to $1,904.84 per ounce by 1:45 p.m. Earlier in the day, U.S. producer prices fell more than expected in December as the costs of energy products and food declined, offering evidence that inflation was slowing.

☆ Gold prices fall from multi-month highs
▼ + stars: | 2023-01-17 | by ( ) www.cnbc.com time to read: +2 min

A display of gold ornaments at a gold shop in Chinatown, Bangkok, Thailand, 10 March 2022. Gold prices on Tuesday fell from a more than eight-month peak hit in the previous session on hopes that the U.S. Federal Reserve would adopt a less aggressive approach to rate hikes going forward. Spot gold fell 0.7% to $1,904.87 per ounce after hitting its highest since the end of April on Monday. With lower rates translating into lesser returns on interest-bearing assets such as government bonds, investors may prefer zero-yield gold. "We expect gold prices to trend around $1,950/oz in 2023," Goldman Sachs said in a note dated Friday.

☆ Gold prices dip as firmer dollar dulls appeal
▼ + stars: | 2023-01-17 | by ( Ashitha Shivaprasad | ) www.reuters.com time to read: +2 min

SummarySummary Companies (.DXY) up 0.3%Silver will outperform gold in 2023-analystJan 17 (Reuters) - Gold prices inched lower on Tuesday, weighed by an uptick in the dollar, although hopes of slower interest rate hikes by the Federal Reserve capped further losses. On Monday, prices hit $1,929, the highest since late-April 2022. A stronger dollar turns gold less attractive to buyers with other currencies. "Expectations of the Fed slowing pace of rate hikes has been supporting gold. The U.S. central bank slowed its pace of rate hikes to 50 bps in December after four consecutive 75 bps increases.

☆ Gold steadies near 9-month peak on hopes of slower Fed rate hike
▼ + stars: | 2023-01-16 | by ( ) www.cnbc.com time to read: +2 min

A five hundred gram gold bar, left, and a a one kilogram gold bar, produced by Swiss manufacturer Argor Hebaeus SA, in Budapest, Hungary. Gold prices steadied after climbing to their highest in nearly nine months on Monday, as a softer dollar and expectations of slower interest rate hikes from the U.S. Federal Reserve added to bullion's shine. Earlier in the session, prices hit $1,929 per ounce, a peak since late April. "The growing adoption of green energy sources continues to favor fabrication demand for silver ... Silver bar and coin demand continued to be high," ANZ said in a note. "We expect silver to perform well, in tandem with gold, as investors look for cheaper alternatives to gold."

☆ Rising commodities prices could be a tailwind for Caterpillar and these industrial names
▼ + stars: | 2023-01-13 | by ( Seema Mody | ) www.cnbc.com time to read: +2 min

The outlook for the global mining industry is strong going into 2023, aided by higher commodity prices, Denise Johnson, group president at Caterpillar , told CNBC. Palladium, copper and gold prices are hitting new highs this week as investors eye China's reopening and anticipate a recovery in demand for these commodities. U.S. industrial names that could get a lift from miners' increased capex spend include Caterpillar and Kennametal , according to Jefferies. International names that may also benefit include Komatsu, Hitachi Construction Machinery, Weir Group, Epiroc and Sandvik, the firm noted. Bank of America analysts upgraded Caterpillar to a buy rating on Friday, citing China's reopening and increased infrastructure spending.

☆ Gold set for weekly gain on smaller U.S. rate-hike bets
▼ + stars: | 2023-01-13 | by ( Ashitha Shivaprasad | ) www.reuters.com time to read: +2 min

Spot gold was up 0.1% at $1,898.57 per ounce, as of 0234 GMT. But we see gold continuing to rise despite cooling inflation because the market is looking at a lower dollar and smaller interest rate hikes," said Edward Meir, metals analyst, Marex. Gold is seen as an inflation hedge, but higher interest rates increase the opportunity cost of holding the asset. Atlanta Federal Reserve Bank president Raphael Bostic said the inflation data may allow the Fed to scale back to quarter-point rate hikes at its upcoming meeting. Spot silver edged 0.1% higher to $23.79, platinum gained 0.1% to $1,068.79 while palladium slipped 0.6% to $1,780.91.

☆ Gold firms as dollar eases ahead of U.S. inflation data
▼ + stars: | 2023-01-12 | by ( Ashitha Shivaprasad | ) www.reuters.com time to read: +2 min

SummarySummary Companies U.S. CPI due at 1330 GMT(.DXY) down 0.1%Jan 12 (Reuters) - Gold prices ticked higher on Thursday, aided by a softer dollar, while market participants awaited key U.S. inflation data that could influence the Federal Reserve's policy path. "Gold prices are very well supported as the dollar has weakened. If the inflation report is supportive for gold, then prices could move up to $1,900 level, but there might be some profit booking after that, Kedia added. Although gold is seen as an inflation hedge, rising rates increase the opportunity cost of holding bullion. On the physical front, Indian gold refiners have nearly stopped imports of gold dore, a semi-pure alloy, as grey market operators offer hefty discounts, industry officials said.

☆ Gold little changed ahead of key U.S. inflation data
▼ + stars: | 2023-01-11 | by ( ) www.cnbc.com time to read: +1 min

Gold prices were hemmed into a narrow range on Wednesday as investors held back from making large bets ahead of key U.S. inflation data due later this week. Spot gold was little changed at $1,875.68 per ounce as of 0242 GMT, hovering near the eight-month high hit on Monday. U.S. gold futures rose 0.2% to $1,879.30. "If the data shows that inflation is softer, then gold might go north of the $1,900 level. Gold is considered an inflation hedge but is highly sensitive to rising interest rates, which increases the opportunity cost of holding the non-yielding bullion.

☆ Platinum prices are soaring. These buy-rated stocks with upside could be a way to cash in
▼ + stars: | 2023-01-10 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

Prices of platinum , which is used in everything from jewelry to fuel cells, are soaring. The Aberdeen Standard Platinum Shares ETF , the GraniteShares Platinum Trust and the iPath Series B Bloomberg Platinum Subindex Total Return ETN are among the funds that track the metal. The Aberdeen Standard Platinum Shares ETF, for instance, rose 10% — jumping over 20% in the last six months alone. It has the highest buy rating — from more than 75% of analysts — according to FactSet. Analysts give Glencore an average 17% upside to its current share price, according to FactSet data.

☆ Gold prices steady as focus shifts to Powell's speech
▼ + stars: | 2023-01-10 | by ( Ashitha Shivaprasad | ) www.reuters.com time to read: +2 min

SummarySummary Companies U.S. CPI report due on ThursdayHawkish tone from Fed could prompt profit-taking - analystJan 10 (Reuters) - Gold prices were steady on Tuesday, with cautious traders largely focusing on Federal Reserve Chair Jerome Powell's speech for insights into the U.S. central bank's rate-hike trajectory. Spot gold held its ground at $1,872.79 per ounce, as of 0333 GMT. Investors' focus is on Powell's speech at a central bank conference later in the day. "Gold prices are hitting a key resistance at the $1,875 level ... A hawkish tone in Fed Chair Powell's speech later today could prompt some near-term profit-taking in gold," said IG Market strategist Yeap Jun Rong. "However, market is on the watch for a downside surprise in the U.S. CPI to support the less-hawkish rate-hike expectations, which could translate to upside for gold prices."

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