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☆ Gold wavers near recent lows as traders bet on more U.S. rate hikes
▼ + stars: | 2023-08-16 | 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. Spot gold held its ground at $1,903.70 per ounce by 0317 GMT, while U.S. gold futures were flat at $1,935.40. We have the U.S. retail sales data yesterday pushing back against recession concerns and potentially keeping safe-haven flows at bay," Jun Rong added. U.S. retail sales increased more than expected in July, underscoring economy's resilience despite Fed's aggressive interest rate hikes to tame inflation. Later in the day, investors will scan minutes from Fed's July policy meeting to gauge its upcoming rate strategy.

Persons: Jun Rong, Neel Kashkari Organizations: Heraeus SA, Solar, Treasury, Federal Reserve, U.S ., IG, Minneapolis Locations: Budapest, Hungary, U.S

☆ Gold stays near 1-month lows as U.S. dollar, yields hold ground
▼ + stars: | 2023-08-11 | by ( ) www.cnbc.com time to read: +2 min

Ingots of 99.99 percent pure gold are placed in a workroom at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, January 31, 2023. REUTERS/Alexander ManzyukGold prices held near one-month lows on Friday, shrugging off cooler-than-expected U.S. inflation figures for last month, with bullion staying on course to wrap up its worst week in seven as the U.S. dollar and bond yields stood strong. Spot gold edged 0.1% higher to $1,913.95 per ounce by 0347 GMT, but traded near its lowest level since July 7 touched earlier in the day. Interest rate increases weigh on gold because they tend to lift bond yields and in turn raise the opportunity cost of holding non-yielding bullion. Gold prices have slid about 1.4% so far in the week as the U.S. dollar index and benchmark 10-year Treasury bond yields were both on track for their fourth consecutive weekly gain.

Persons: Alexander Manzyuk, Matt Simpson, Mary Daly Organizations: REUTERS, U.S ., City, U.S, Palladium Locations: Siberian, Krasnoyarsk, Russia, U.S

☆ Gold subdued on dollar strength as markets await economic data
▼ + stars: | 2023-08-01 | by ( ) www.cnbc.com time to read: +2 min

A technician cleans impurities from melted gold bars at Primera Gold's laboratory in Bukavu, South Kivu Province, eastern Democratic Republic of Congo, May 12, 2023. Gold prices edged lower on Tuesday as the U.S. dollar climbed, while investors looked forward to key economic data this week for signs on how long the interest rates could keep rising to quell sticky inflation. Spot gold was down 0.1% at $1,961.49 per ounce by 0343 GMT, while U.S. gold futures dropped 0.5% to $1,961.10 per ounce. Gold prices ended July 2.3% higher, the biggest monthly rise in four months on expectations that an end to the rate-hiking cycle by global central banks was nearing. This is why the central banks are sticking with the data-dependent mantra," said Tim Waterer, chief market analyst at KCM Trade.

Persons: Jerome Powell, Nicholas Frappell, Austan Goolsbee, Tim Waterer, Waterer Organizations: Primera Gold's, U.S, ABC Refinery, Chicago Federal, KCM Trade Locations: Bukavu, South Kivu Province, Democratic Republic of Congo, Chicago

☆ Cramer's Lightning Round: Pass on Spirit Airlines
▼ + stars: | 2023-07-31 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

Stock Chart Icon Stock chart icon Spirit Airlines' year-to-date stock performance. Stock Chart Icon Stock chart icon Chargepoint's year-to-date stock performance. Stock Chart Icon Stock chart icon IONQ's year-to-date stock performance. Stock Chart Icon Stock chart icon Cleveland-Cliffs' year-to-date stock performance. Stock Chart Icon Stock chart icon Coursera's year-to-date stock performance.

Persons: Mark Bristow's, It's, you've, I've, Nucor, I'm Organizations: Airlines, Spirit Airlines, Barrick, Marvell, Cliffs Locations: Cleveland

☆ Why substituting cryptocurrency for gold exposure may be a costly mistake
▼ + stars: | 2023-07-29 | by ( Lina Hassen | ) www.cnbc.com time to read: +2 min

State Street Global Advisors' George Milling-Stanley, whose firm runs the world's largest gold exchange-traded fund, believes cryptocurrency is no substitute for the real thing due its vulnerability to big losses. Milling-Stanley's firm is behind SPDR Gold Shares , the world's largest physically backed gold ETF. Milling-Stanley believes gold's 6,000-year history as a monetary asset serves as a significant sample basis to understand the benefits of investing in gold. But Milling-Stanley believes the economic backdrop bodes well for gold — recession or not. It's known as the world's largest consumer of gold jewelry behind India, according to the World Gold Council.

Persons: George Milling, Stanley, cryptocurrency, CNBC's, gold's, It's, Gold Organizations: Street Global Advisors, World Gold, it's Locations: China, India, It's Vietnam, it's Indonesia, it's Thailand, Korea

☆ Gold prices range-bound as traders focus on central bank decisions
▼ + stars: | 2023-07-24 | 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. arranged in Budapest, HungaryGold prices held steady on Monday as investors awaited a U.S. Federal Reserve meeting this week where the central bank could signal a pause in interest rate hikes from July. Spot gold was little changed at $1,960.01 per ounce by 0536 GMT, while U.S. gold futures fell 0.2% to $1,961.80. With a Fed rate hike in the July meeting nearly certain, "a positive outlook for gold revolves around central bank buying to drive long-term gold prices," said Michael Langford, chief investment officer at Scorpion Minerals. Along with the Fed, the European Central Bank, or ECB, and the Bank of Japan are also meeting this week.

Persons: Michael Langford, Jerome Powell, Christine Lagarde, Tim Waterer Organizations: Heraeus SA, Solar, Federal Reserve, Scorpion Minerals, Fed, European Central Bank, Bank of Japan, KCM Trade, UBS Locations: Budapest, Hungary, U.S

☆ Gold retreats on dollar uptick, traders bet on Fed pause
▼ + stars: | 2023-07-19 | by ( ) www.cnbc.com time to read: +2 min

On display at Agosi AG in Pforzheim is a gold bar that weighs 12.5 kilograms (400 ounces), has a fine gold content of 99.99 percent and lies on gold granules. Gold prices eased on Wednesday from a 1-1/2-month high touched in the previous session, dragged by a slightly stronger dollar, even as investors bet that recent U.S. economic readings make the case for a pause in the Federal Reserve's rate-hike stance. Spot gold fell 0.1% to $1,976.05 per ounce by 0350 GMT, after hitting its highest since May 24 at $1,984.19 on Tuesday. The dollar index edged higher from a more than one-year low hit on Tuesday, making gold more expensive for holders of other currencies. "Gold prices may have to reclaim the key psychological level of $2,000 to potentially provide more conviction for buyers," said Yeap.

Persons: Jun Rong, Wang Tao Organizations: Agosi AG, Reuters, Palladium Locations: Pforzheim, ., U.S, China

☆ Gold edges lower on slight dollar uptick
▼ + stars: | 2023-07-17 | by ( ) www.cnbc.com time to read: +2 min

Gold prices edged lower on Monday as the dollar inched up, although investors largely bet on the U.S. Federal Reserve hitting the brakes soon on interest rate hikes. Spot gold fell 0.1% to $1,952.74 per ounce by 0307 GMT, around $11 lower from the three-month high hit on Friday. "Whilst inflation remains high, markets are responding to the relative change over the absolute level of interest rates going forward. And if peak cycles are close, it is another supportive feature for gold, alongside central bank buying," Simpson added. Lower interest rates decrease the opportunity cost of holding non-yielding bullion.

Persons: Matt Simpson, Simpson, Talim Organizations: Agosi AG, U.S . Federal Reserve, Index, Fed, European Central Bank, Hong, Japan's Nikkei Locations: Pforzheim, U.S, Europe, Hong Kong

☆ Gold set for best week since April on dollar drop
▼ + stars: | 2023-07-14 | by ( ) www.cnbc.com time to read: +2 min

Gold bars and gold coins of different sizes lie in a safe on a table at the precious metal dealer Pro Aurum. Spot gold was little changed at $1,959.81 per ounce by 0504 GMT, and up 1.9% for the week. Making gold less expensive for overseas investors, the dollar index touched its lowest level since April 2022. However, if the Fed does indicate more rate increases, "that could provide some nervousness (among gold investors)" Simpson added. Spot silver fell 0.2% to $24.8091 per ounce, but was set for its biggest weekly gain since March.

Persons: Gold's, Matt Simpson, Christopher Waller, Simpson, Tim Waterer Organizations: Aurum, City, Federal, KCM

☆ First Quantum shuns Barrick Gold's informal takeover offer, Bloomberg reports
▼ + stars: | 2023-06-15 | by ( ) www.reuters.com time to read: +1 min

June 15 (Reuters) - Canadian miner First Quantum Minerals (FM.TO) has rejected an informal takeover offer from Barrick Gold (ABX.TO), Bloomberg News reported on Thursday, citing people familiar with the matter. Shares of copper miner First Quantum rose 12% following the news, while Barrick fell 2.7%. First Quantum did not immediately respond to a Reuters request for comment, while Barrick said the company does not comment on market speculation. Barrick Gold CEO Mark Bristow's had expressed his interest in copper giant Freeport-McMoran (FCX.N) in 2020, but a deal between the companies did not pan out. Reporting by Sourasis Bose in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

Persons: Barrick, Mark Bristow's, Sourasis Bose, Devika Organizations: Minerals, Barrick Gold, Bloomberg, Barrick, Newmont Corp, Thomson Locations: Freeport, McMoran, Bengaluru

☆ Gold prices slip on U.S. debt limit deal, Fed rate-hike bets
▼ + stars: | 2023-05-29 | by ( ) www.cnbc.com time to read: +1 min

Gold prices edged lower on Monday as a tentative deal sealed over the weekend to suspend the U.S. debt ceiling coupled with jitters around higher-for-longer interest rates dampened demand for the non-yielding metal. Spot gold was down 0.1% at $1,944.09 per ounce by 0252 GMT, hovering near two-month lows hit on Friday. Gold, which offers no yield of its own, tends to fall out of favor among investors when interest rates rise. Asian shares and U.S. stock futures rose as the deal to suspend the U.S. government's debt ceiling ended a protracted stalemate. Spot silver fell 0.2% to $23.26 per ounce, platinum edged 0.1% higher to $1,023.83, and palladium rose 0.3% to $1,428.07.

☆ Gold holds ground amid U.S. debt-ceiling jitters
▼ + stars: | 2023-05-17 | by ( ) www.cnbc.com time to read: +2 min

Gold prices steadied on Wednesday, as investors fretted over prolonged U.S. debt-limit negotiations, with a firmer dollar keeping prices in check. Spot gold ticked up 0.1% to $1,991.35 per ounce by 0455 GMT. Rival safe-haven dollar, meanwhile, held firm on the day, making gold less appealing for overseas buyers. "Any inflation-fighting rhetoric from Fed officials between now and the June meeting would hinder the gold price," Waterer further said, adding, the prevailing dollar strength was capping gold's upside for the time being. Spot silver rose 0.1% to $23.76 per ounce after hitting a six weeks low in the previous session.

☆ Gold dips as markets assess Fed rate hike remarks, debt talks in focus
▼ + stars: | 2023-05-16 | by ( ) www.cnbc.com time to read: +1 min

Spot gold fell 0.2% to $2,016.72 per ounce by 0237 GMT, while U.S. gold futures were down 0.1% to $2,020.20. Gold hit $2,072.19 earlier this month, just shy of a record high of $2,072.49, after the Federal Reserve hinted that its marathon hiking cycle may be ending. However, U.S. central bankers on Monday signaled they see interest rates staying high and, if anything, going higher, given inflation that may be slow to improve and an economy showing only tentative signs of weakness. While gold is considered a hedge against inflation, rising interest rates dull the non-yielding bullion's appeal. Elsewhere, spot silver fell 0.3% to $24.04 per ounce, platinum dipped 0.1% to $1,063.66, while palladium was little changed at $1,531.60.

☆ Gold ticks higher as economic risks persist
▼ + stars: | 2023-05-15 | by ( ) www.cnbc.com time to read: +1 min

Gold prices edged higher on Monday as the U.S. debt ceiling stalemate and concerns of an economic slowdown steered some traders towards the safe-haven metal. Spot gold was up 0.2% at $2,014.44 per ounce by 0432 GMT, after falling for three sessions. Bullion tends to gain during times of economic or financial uncertainty, but higher interest rates dim non-yielding gold's appeal. Markets are pricing in an 83.4% chance of the U.S. central bank holding rates at the current level in June, according to the CME FedWatch tool. But taking some shine off gold, rival safe-haven dollar rose to a five-week high against major peers and made bullion less affordable for buyers holding other currencies.

☆ 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 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.

☆ Want to invest in gold? Skip mining stocks, strategist says, and trade this instead
▼ + stars: | 2023-04-17 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Gold prices are up 12% this year and are now trading at $2049 per troy ounce on the New York spot price market. Gold prices typically surge if markets expect low interest rates in a high inflationary environment. The strategist expects gold prices to reach $2,200 per ounce over the next 12 months. How to trade gold Doyle's preferred method for gaining exposure to gold is through exchange-traded commodities (ETCs), which are backed by physical gold. A number of ETCs for gold exist, such as the iShares Physical Gold ETC , Invesco Physical Gold , WisdomTree Core Physical Gold , Xtrackers Physical Gold ETC , and Xetra-Gold .

☆ 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 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's price action is sustainable for the time being: Barrick CEO
▼ + stars: | 2023-04-11 | 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 EmailGold's price action is sustainable for the time being: Barrick CEOMark Bristow, Barrick CEO, joins 'Squawk on the Street' to discuss the recent price action in Gold, how the changing view on Fed policy plays into the price of Gold and more.

☆ Want to play soaring gold prices? These stocks are seen rising by at least 20%
▼ + stars: | 2023-04-07 | by ( Zavier Ong | ) www.cnbc.com time to read: +3 min

Gold prices are up about 10% this year and traded around $2,020 an ounce at one point on Thursday. For investors looking to cash on potentially higher gold prices, CNBC Pro screened FactSet for stocks in the Global X Gold Explorers ETF , the iShares MSCI Global Gold Miners ETF , the VanEck Gold Miners ETF , and the SPDR S & P Metals and Mining ETF . The company's gold mining operations are in Western Australia, where it aims to produce 185,000 to 205,000 ounces of gold annually by 2024. Analysts give British mining firm Hochschild Mining potential upside of 32.8%, according to FactSet data. Other stocks that made the screen include Australia's Silver Lake Resources , Indonesia's PT Merdeka Copper Gold, Endeavour Mining and B2Gold .

☆ Gold and mining ETFs are surging as the precious metal flirts with a record high
▼ + stars: | 2023-04-07 | by ( Jesse Pound | ) www.cnbc.com time to read: +2 min

Over the past month, the SPDR Gold Shares ETF (GLD) has pulled in more than $1 billion of new money, according to FactSet. The iShares Gold Trust (IAU) , SPDR Gold MiniShares Trust (GLDM) , Abrdn Physical Gold Shares ETF (SGOL) and Goldman Sachs Physical Gold ETF (AAAU) have pulled in more than $400 million combined. Funds comprised of gold mining stocks have also been popular, with the VanEck Gold Miners ETF (GDX) pulling in about $200 million. GDX YTD mountain Gold mining ETFs are rallying in 2023. The gold mining funds from Sprott ( SGDM ) and iShares ( RING ) have seen similarly strong performance.

☆ 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.

☆ Here's what's driving the gains for gold as it approaches its highest levels on record
▼ + stars: | 2023-04-05 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

It's taken gold prices a long time to get this high — 5,000 years, give or take a few centuries — and it looks like the yellow metal could keep climbing. "Gold prices have benefited in recent weeks from safe haven demand amid concerns on the banking sector, as well as a view that the likelihood of a recession (i.e., hard landing) have materially increased. "Lower rates, coupled with inflation still well above the 2% target, would be positive for gold prices," he added. @GC.1 YTD line Gold price this year Tariq expects gold to average $1,925 an ounce in the second quarter, a 10% increase from Credit Suisse's previous target. Roque has a price target at $2,322, implying 14% upside from here.

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