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☆ 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 lackluster as Credit Suisse-UBS deal spurs risk-on mood
▼ + stars: | 2023-03-20 | by ( ) www.cnbc.com time to read: +2 min

A worker handles an Argor-Heraeus SA one kilogram gold bar at Solar Capital Gold Zrt. Gold prices dropped on Monday, with their safe-haven appeal diminished as risk sentiment improved after Swiss lender UBS sealed a deal to buy peer Credit Suisse in a rescue effort to stabilize global financial markets. Spot gold was down 0.7% at $1,973.44 per ounce, as of 0404 GMT, after sliding 1% earlier in the session. On Sunday, UBS agreed to buy 167-year-old Credit Suisse for $3.23 billion and assume up to $5.4 billion in losses in a deal backed by a massive Swiss guarantee. Bullion is considered a hedge against economic uncertainties, although higher rates increase the opportunity cost of holding non-yielding gold.

☆ Gold holds above $1,900 as SVB collapse fuels Fed slowdown hopes
▼ + stars: | 2023-03-14 | by ( ) www.cnbc.com time to read: +2 min

Two Argor-Heraeus SA 250 gram gold bars at Solar Capital Gold Zrt. Spot gold was down 0.3% at $1,906.75 per ounce, as of 0321 GMT, after rising more than 2% on Monday to hit its highest since Feb. 3. Markets are now pricing in a 29.4% chance of a pause in rate hikes at next week's Fed policy meeting. Considered a hedge against economic uncertainties, zero-yield gold also becomes a more attractive bet in a low interest rate environment. Spot silver fell 0.5% to $21.70 per ounce, platinum lost 0.5% at $991.19 and palladium shed 1% at $1,459.20.

☆ Gold rises for third day on softer dollar; rate-hike fears linger
▼ + stars: | 2023-03-01 | 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 edged up for a third session on Wednesday as the dollar pulled back, although fears of more U.S. interest rate hikes on the back of stubbornly high inflation kept a lid on prices. Spot gold was up 0.1% at $1,829.37 per ounce, as of 0315 GMT. "Next stop for gold could be the $1,850-$1,860 area, at which point we'll be on the lookout for another top." The dollar index ticked 0.1% lower, making bullion more affordable for buyers holding other currencies.

☆ Gold claws back some ground as dollar eases
▼ + stars: | 2023-02-16 | by ( ) www.cnbc.com time to read: +2 min

Two Argor-Heraeus SA 250 gram gold bars at Solar Capital Gold Zrt. Gold prices regained some ground on Thursday as the U.S. dollar pulled back, although prospects of more interest rate hikes by the Federal Reserve kept investors on edge. U.S. gold futures rose 0.3% to $1,850.20. Higher interest rates discourage investment in non-yielding gold, although it is considered a hedge against soaring prices. The dollar index was down 0.3% after hitting a near six-week peak on Wednesday, making greenback-priced gold less expensive for overseas buyers.

☆ Silver prices could touch a 9-year high in 2023 — with a bigger upside than gold
▼ + stars: | 2023-01-20 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +4 min

Akos Stiller | Bloomberg | Getty ImagesPrices of silver could hit a nine-year high of $30 per ounce this year — possibly outpacing gold prices. No silver lining for silver supplies"We hit peak silver supply back about five, six years ago. The supply of silver, which is largely produced as a byproduct of lead-zinc, copper and gold mines, does not generally respond as quickly to demand. Andrey Rudakov | Bloomberg | Getty Images"When silver prices go up, it's not like the silver mines can increase production, because the silver mines only supply about 25% of the silver," Smallwood said, adding that the market often relies on the lead-zinc mines to satisfy the higher demand. "I'm very bullish on gold, but I'm even more bullish on silver," Smallwood 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.

☆ 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."

☆ 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.

☆ 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.

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