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☆ Gold dips as steady U.S. dollar, looming rate hikes dim appeal
▼ + stars: | 2022-10-19 | by ( ) www.cnbc.com time to read: +1 min

Gold inched lower on Wednesday as the dollar gained some ground, while the U.S. Federal Reserve's commitment to tightening its monetary policy also weighed on zero-yield bullion's appeal. Spot gold was down 0.1% at $1,650.02 per ounce, as of 0317 GMT, while U.S. gold futures were flat at $1,654.80. "Market participants may want to see a clearer end to Fed's rate hikes before restoring some confidence in gold prices," IG market strategist Yeap Jun Rong said, adding given upside risks to inflation, monetary tightening seems far from over. "That will keep gold prices locked in an overall downward trend for now, with any rallies running the risks of being eventually sold into." The Fed is widely expected to deliver a fourth straight 75-basis point rate hike when it meets in November, and traders of futures contracts tied to the policy rate are betting on another oversized hike in December as well.

☆ Gold slides as U.S. inflation data boosts rate-hike bets
▼ + stars: | 2022-10-14 | by ( ) www.cnbc.com time to read: +1 min

Gold prices fell on Friday, adding to the weekly decline, as a hotter-than-expected U.S. inflation reading cemented bets of another hefty Federal Reserve interest rate hike next month. Spot gold fell 0.3% to $1,660.10 per ounce, as of 0123 GMT. Although traditionally considered an inflation hedge, interest rate hikes to combat soaring prices have reduced bullion's appeal since it yields no interest. Barrick Gold Corp, the world's second-largest gold miner, said on Thursday it expected full-year gold production to be at the lower end of its earlier forecast range. Spot silver dipped 0.3% to $18.81 per ounce, platinum fell 0.5% to $891.67 and palladium was 0.3% lower at $2,101.77.

☆ Gold hits 2½-year low as dollar stands tall
▼ + stars: | 2022-09-26 | by ( ) www.cnbc.com time to read: +1 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 fell to a new 2½-year low on Monday, weighed down by a sturdy dollar and prospects of further interest rate hikes by the U.S. Federal Reserve to bring down inflation. Gold prices have fallen more than 20% since scaling above the key $2,000 per-ounce mark in March. Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell 0.31% to 947.23 tons on Friday. Spot silver fell 0.8% to $18.68 per ounce, platinum rose 0.7% to $860.13, and palladium gained 0.4% to $2,076.10.

☆ Gold flat as firm dollar, U.S. rate hike dent appeal
▼ + stars: | 2022-09-23 | by ( ) www.cnbc.com time to read: +2 min

Gold prices were flat on Friday as the dollar held close to its recent peak while the likelihood of more aggressive interest rate hikes by the U.S. Federal Reserve also weighed on the appeal for non-yielding bullion. Gold prices were flat on Friday as the dollar held close to its recent peak while the likelihood of more aggressive interest rate hikes by the U.S. Federal Reserve also weighed on the appeal for non-yielding bullion. Spot gold was flat at $1,671.60 per ounce by 0107 GMT. Gold prices have fallen nearly 20% since scaling above the key $2,000 per ounce mark in March. Spot silver was flat at $19.64 per ounce, platinum rose 0.3% to $903.22, while palladium dipped 0.2% to $2,165.10.

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