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☆ Gold scales 8-month high as Fed slowdown prospects lift appetite
▼ + stars: | 2023-01-09 | by ( Ashitha Shivaprasad | ) www.reuters.com time to read: +2 min

Spot gold was up 0.7% at $1,878.55 per ounce, as of 0256 GMT, its highest level since May 9, 2022. U.S. gold futures also rose 0.7% to $1,883.20. The dollar index slipped 0.3%. Market participants will now turn to Fed Chair Jerome Powell's speech at a central bank conference in Stockholm on Tuesday and U.S. consumer price index data due on Thursday. "This week's CPI data would be key.

☆ Gold prices gain on hopes of smaller U.S. rate hikes
▼ + stars: | 2023-01-09 | by ( ) www.cnbc.com time to read: +2 min

Gold prices advanced to an eight-month high on Monday, as a weaker dollar made greenback-priced bullion cheaper for overseas buyers while hopes of less-aggressive U.S. rate hikes also lifted sentiment. Spot gold was up 0.7% at $1,878.55 per ounce, as of 0256 GMT, its highest level since May 9, 2022. U.S. gold futures also rose 0.7% to $1,883.20. The dollar index slipped 0.3%. Market participants will now turn to Fed Chair Jerome Powell's speech at a central bank conference in Stockholm on Tuesday and U.S. consumer price index data due on Thursday.

☆ Gold rises, set for weekly gain with spotlight on U.S. jobs data
▼ + stars: | 2023-01-06 | by ( Ashitha Shivaprasad | ) www.reuters.com time to read: +2 min

Spot gold rose 0.3% to $1,838.38 per ounce, as of 0238 GMT. The market's focus shifts to the U.S. Labor Department's closely watched nonfarm payrolls (NFP) data due at 1330 GMT. "Higher-than-expected job gains and more persistent wage pressures may be catalysts to add pressure on gold," said IG Market strategist Yeap Jun Rong. "Gold prices have been finding its way higher since November as bullish bets in dollar and yields unwind. For 2023, gold prices may continue to draw in buyers but it might face some risk from hawkish pushback from policymakers."

☆ Gold edges higher as dollar dips ahead of U.S. jobs data
▼ + stars: | 2023-01-05 | by ( Ashitha Shivaprasad | ) www.reuters.com time to read: +2 min

Spot gold was up 0.1% at $1,856.11 per ounce, as of 0302 GMT, after hitting a near seven-month high in the previous session. U.S. gold futures also edged 0.1% higher at $1,861.20. "Gold has had a good start to the year, helped by a weaker dollar and expectations that the Fed might slow its pace of rate hikes. "If the jobs data reflects that the rate hikes have taken a toll on the economy, then dollar might weaken further and benefit gold." Bullion is seen as a hedge against inflation and economic uncertainties, but higher interest rates tend to weigh on non-yielding gold.

☆ Gold firms on dollar slide; market focus on Fed minutes
▼ + stars: | 2023-01-04 | by ( Ashitha Shivaprasad | ) www.reuters.com time to read: +2 min

"Traders remain cautious ahead of the Fed minutes. The minutes will likely give an idea about the Fed's policy decisions and this will impact dollar and gold," said Hareesh V., head of commodity research at Geojit Financial Services. There are chances of more inflows to gold when the Fed starts easing policies." Bullion is seen as a hedge against inflation, but rising rates dull non-yielding asset's appeal. Traders also kept a tab on rising coronavirus infections in top gold consumer China after the country's abrupt COVID policy U-turn in early December.

☆ Gold climbs to six-month peak in thin trade ahead of Fed minutes
▼ + stars: | 2023-01-03 | by ( Ashitha Shivaprasad | ) www.reuters.com time to read: +2 min

SummarySummary Companies Fed's December meeting minutes due on WednesdayCentral banks' purchase of gold likely to continue in 2023-analystJan 3 (Reuters) - Gold prices hit a six-month high on Tuesday in thin trading, with the market's attention turning to minutes from the U.S. Federal Reserve's latest policy meeting due this week. U.S. gold futures rose 1% to $1,843.90. Minutes from the Fed's December policy meeting are due on Wednesday, which could offer hints on the central bank's tightening path. Gold is considered a hedge against inflation and economic uncertainties, but higher interest rates increase the opportunity cost of holding gold as it pays no interest. The dollar and yield movements will be a key focus for the gold market, Ole Hansen, head of commodity strategy at Saxo Bank said in a note dated Monday.

☆ Supreme dollar rules the roost in gold market
▼ + stars: | 2022-12-30 | by ( Bharat Gautam | Swati Verma | ) www.reuters.com time to read: +2 min

REUTERS/Alexander ManzyukThe Fed’s fight against inflation is expected to dictate sentiment in precious metals markets next year. Russia’s invasion of Ukraine, surging inflation, COVID-19 restrictions and slowing growth meant precious metals had a mixed 2022. Spot gold at $1,821.50 an ounce at 19:28 GMT is on course to wrap up 2022 about 0.4% lower. Among other precious metals, silver at $23.87 an ounce is set to end the year over 2% up. Nornickel should also complete its smelter maintenance, allowing it to increase output,” according to Heraeus Precious Metals.

The additional demand for liquefied natural gas (LNG) and tighter supplies of piped gas placed enormous strain on the global market, spurring an energy crisis that pushed gas prices to historic highs. Newcastle coal futures have soared almost 140% in 2022, the biggest jump since 2008. U.S. gas futures jumped by more than 20% and Dutch wholesale gas prices rose by almost 8%, both rising for a third consecutive year. Power-generation fuels - coal, natural gas and gasoil - outperform other energy products in 2022 following cut in Russian energy supplies to EuropeBecause Europe will continue to import LNG to rebuild gas inventories next year after winter, gas prices are expected to remain elevated as limited new supplies come onstream. However, a European cap on gas prices starting in February could keep a lid on the market and reduce the volatility seen this year.

Industrial metals, iron ore and rubber are on track to finish in negative territory, pushed down in 2022 by China's strict zero-COVID policy and fears of a world recession. The additional demand for liquefied natural gas (LNG) amid tighter supplies of piped gas placed enormous strain on the global market, spurring an energy crisis that pushed gas prices to historic highs. U.S. gas futures and Dutch wholesale gas prices have jumped by more than 20%, rising for a third consecutive year. Power-generation fuels - coal, natural gas and gasoil - outperform other energy products in 2022 following cut in Russian energy supplies to EuropeBecause Europe will continue importing LNG to rebuild gas inventories next year after winter, gas prices are expected to remain elevated amid limited new supplies coming on-stream. However, a European cap on gas prices starting in February could help keep a lid on the market and reduce the volatility seen this year.

☆ Precious metal platinum set for best quarter since 2008 on supply concerns
▼ + stars: | 2022-12-30 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +2 min

Platinum rose another 5% Thursday to trade at $1,054.86 per troy ounce Friday, up around 22% compared to the start of the quarter. The price of platinum is up over 20% since late September, and the metal is set to experience its best quarter since 2009. The Council anticipates a platinum deficit in 2023, with demand growing by 19% while supply increasing by just 2%. Demand for platinum in the automotive industry will also continue to grow next year, while jewelry-based demand for platinum is forecasted to remain constant throughout 2023. The platinum market posted a deficit in 2020 after the onset of the coronavirus pandemic brought industry to a standstill.

☆ 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 ticks up in light trade after holiday weekend
▼ + stars: | 2022-12-27 | by ( ) www.cnbc.com time to read: +1 min

Gold prices edged up in early Asian hours on Tuesday, helped by a softer dollar, although trading was thin after the long Christmas weekend. U.S. gold futures rose 0.3% to $1,810.00. Data on Friday showed U.S. consumer spending rose 0.1% in November after climbing 0.4% in October, while inflation cooled further. The European Central Bank must be prepared to take the heat and raise interest rates further, ECB policymaker Isabel Schnabel said in an interview published on Saturday. SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, said its holdings fell 0.1% to 913.01 tons on Friday.

☆ Gold gains on dollar weakness as China relaxes COVID curbs
▼ + stars: | 2022-12-27 | by ( Arundhati Sarkar | ) www.reuters.com time to read: +2 min

Spot gold rose 0.6% to $1,809.20 per ounce by 1136 GMT. A weaker dollar also makes the greenback-denominated bullion less expensive for other currency holders. "Gold was weaker for most of 2022 amid aggressive tightening of monetary policies, rising real yields and dollar strength. "Sustained recovery in gold prices is possible if Fed pivots." In other metals, spot silver rose 1.6% to $24.09 per ounce, platinum gained 0.4% to $1,025.32, while palladium jumped 1.9% to $1,797.00.

☆ Gold flat as focus shifts to inflation data
▼ + stars: | 2022-12-23 | by ( ) www.cnbc.com time to read: +1 min

Gold jewelry at a store ahead of the festival of Diwali in New Delhi, India on Sunday, Oct. 23, 2022. Gold prices were flat during early Asian hours on Friday, as traders awaited economic data due later in the day to gauge the Federal Reserve's rate hike stance. Investors' attention turns to personal consumption expenditure (PCE) data due at 1330 GMT, for cues on inflation. Although gold is considered an inflation hedge, rising interest rates increase the opportunity cost of holding bullion since it pays no interest. Britain's economy contracted more than first thought in the third quarter of this year, data showed on Thursday.

☆ East-West battleground will shift to metals
▼ + stars: | 2022-12-23 | by ( Lisa Jucca | ) www.reuters.com time to read: +4 min

MILAN, Dec 23 (Reuters Breakingviews) - The global trade war will shift from fossil fuels to metals and raw materials. Europe needs to cumulatively spend $5.3 trillion on clean energy projects by 2050. That requires a sixfold increase in the global production of copper, lithium, graphite, nickel and some rare earths by 2040, International Energy Agency estimates show. It refines 58% of lithium produced globally, 65% of cobalt and over one-third of nickel and copper. That’s why Western nations’ best option is ultimately to recycle metals from used appliances.

☆ East-West battleground will shift from fossil fuels to metals
▼ + stars: | 2022-12-23 | by ( Lisa Jucca | ) www.reuters.com time to read: +4 min

MILAN, Dec 23 (Reuters Breakingviews) - The global trade war will shift from fossil fuels to metals and raw materials. Russia’s invasion of Ukraine highlighted the risk of relying on autocratic states for energy. Europe needs to cumulatively spend $5.3 trillion on clean energy projects by 2050. That requires a sixfold increase in the global production of copper, lithium, graphite, nickel and some rare earths by 2040, International Energy Agency estimates show. It refines 58% of lithium produced globally, 65% of cobalt and over one-third of nickel and copper.

☆ 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 off one-week high as dollar regains some ground
▼ + stars: | 2022-12-21 | by ( ) www.cnbc.com time to read: +2 min

Gold jewelry at a store ahead of the festival of Diwali in New Delhi, India on Sunday, Oct. 23, 2022. Gold prices inched lower on Wednesday from a one-week high hit in the previous session, as the dollar regained some ground, making greenback-priced bullion more expensive for overseas buyers. Spot gold fell 0.2% at $1,814.74 per ounce as of 0330 GMT, after rising more than 1% on Tuesday following a dip in dollar. "Rate hikes typically weigh on gold but as we enter into late cycle of Fed tightening, gold can recover, said OCBC FX strategist Christopher Wong. "However, a more material recovery in prices would require more than just a calibration in Fed tightening, probably need the Fed to pause and perhaps cut rates."

☆ Gold firms as dollar slips; Fed's rate-hike bets cap advance
▼ + stars: | 2022-12-20 | by ( Ashitha Shivaprasad | ) www.reuters.com time to read: +2 min

A weaker dollar makes gold more attractive to overseas buyers. However, "the prospects of a higher terminal Fed rate could prevent gold enjoying a runaway rally next year". Last week, Fed Chair Jerome Powell said the U.S. central bank will deliver more rate hikes next year to curb inflation. Although gold is considered an inflation hedge, higher rates increase the opportunity cost of holding the asset. European Central Bank Vice-President Luis de Guindos signalled the bank was determined to keep raising interest rates.

☆ Gold flat, set for weekly fall on hawkish Fed
▼ + stars: | 2022-12-16 | by ( ) www.cnbc.com time to read: +1 min

Gold jewelry at a store ahead of the festival of Diwali in New Delhi, India on Sunday, Oct. 23, 2022. Gold prices were flat on Friday and set for a weekly loss, pressured by expectations of higher interest rates for a longer period by the U.S. Federal Reserve. Spot gold was steady at $1,776.85 per ounce as of 0028 GMT, having fallen more than 1% this week. SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, said its holdings rose 0.3% to 913.88 tons on Thursday. Spot silver rose 0.1% to $23.06, platinum lost 0.1% to $1,005.14 and palladium was down 0.2% to $1,787.50.

☆ Factbox: Who is Russian businessman Vladimir Potanin?
▼ + stars: | 2022-12-15 | by ( ) www.reuters.com time to read: +3 min

Dec 15 (Reuters) - Vladimir Potanin, who was placed on a U.S. sanctions list on Thursday, is one of Russia's wealthiest businessmen. - Potanin, 61, is the president and largest shareholder at Nornickel, the world's largest producer of palladium and refined nickel. In 2021 Nornickel was the world's top producer of refined nickel, used to make stainless steel and important for electric vehicle batteries. - The son of a high-ranking Soviet trade official, Potanin was educated at Moscow’s elite diplomatic academy. - Potanin has taken care to stay on the right side of President Vladimir Putin, for instance by accepting a $2 billion fine after Nornickel angered the president by causing Russia's biggest Arctic oil spill two years ago.

☆ U.S. Sanctions Russia’s Rosbank, Subsidiaries of VTB
▼ + stars: | 2022-12-15 | by ( David Smagalla | ) www.wsj.com time to read: +3 min

The U.S. government has sanctioned Russian lender Rosbank and has expanded sanctions against VTB, one of the country’s largest banks, in a move to further limit the Russian government’s efforts to fund its war in Ukraine. The Treasury Department’s Office of Foreign Assets Control on Thursday announced sanctions against 17 subsidiaries of VTB, building on sanctions placed on the parent company in February, after Russia invaded Ukraine. The Treasury cited the importance of Rosbank to the Russian government, given that the lender is considered a “systemically important credit institution” in the country. The U.S. sanctions follow similar sanctions of Rosbank by the U.K. and Canada earlier this year. Nornickel wasn’t included in the State Department’s sanctions package.

☆ 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 dips after Federal Reserve rate decision
▼ + stars: | 2022-12-14 | by ( ) www.cnbc.com time to read: +1 min

Gold jewelry at a store ahead of the festival of Diwali in New Delhi, India on Sunday, Oct. 23, 2022. Gold prices dropped on Wednesday U.S. Federal Reserve's decision to hike interest rates by 50 basis points. Lower rates tend to boost gold prices because they cut the opportunity cost of holding non-yielding bullion. That continues to be the main focus of many of these asset classes, including gold," High Ridge Futures' Meger said. Elsewhere, silver rose 0.86% to $23.9321 per ounce, platinum fell 0.45% to $1,029.6387 and palladium lost 0.81% at $1,914.18.

☆ Neil Shah: Small cap companies are 'interestingly valued'
▼ + stars: | 2022-12-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNeil Shah: Small cap companies are 'interestingly valued'Neil Shah, director at the investment research group Edison Group, explains why he likes one mining company that extracts metals such as platinum, palladium, and chrome.

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