|

Gold futures down 1.8%

ByVictoria

The dollar fell to a one-week low against a basket of major currencies as oil prices declined and demand for safe havens waned. Investors can “breathe a sigh of relief that chances of a major escalation have been reduced,” Jefferies economist Mohit Kumar said. The DXY dollar index fell 0.4% to a low of 97.969.

Gold futures also fell, last down 1.8% at $3,334.50 a troy ounce, close to levels last seen before Israel launched strikes on Iranian nuclear facilities earlier this month.

Source – The Wall Street Journal

Futures – are contracts to buy or sell a specific asset at a future date.

Similar Posts

  • “Richest shipwreck” gold coins confirmed

    ByVictoria
    0 Comments

    Experts have confirmed that dozens of gold coins scattered across the ocean floor off the coast of Colombia belonged to the San José, an ill-fated Spanish treasure galleon that sank over 300 years ago during a battle with British warships. The findings were published on June 10 in the journal Antiquity.

    The 64-gun, three-masted Spanish flagship alone carried as much as 200 tons of treasure with a modern value estimated as high as $17 billion by today’s standards.

    The key pieces of evidence were dozens of rough gold coins sitting on the ocean floor. The treasure had an average diameter of 1.3 inches and each weighed around one ounce.

    “Hand-struck, irregularly shaped coins—known as cobs in English and macuquinas in Spanish—served as the primary currency in the Americas for more than two centuries,” Daniela Vargas Ariza, a maritime archeologist and the study’s lead author said in a statement.

    Source – Popular Science

  • /

    Silver forecast at $32.55

    ByVictoria
    0 Comments

    Silver began the week with modest gains, stabilizing above its 50-day moving average at $32.55—a level now serving as short-term support. The metal also finds backing from a key Fibonacci retracement at $32.19.

    Source – FX Empire

  • /

    Peter Navarro Explains Implications Of Copper Dumping In US Markets

    ByVictoria
    0 Comments

    “Copper is like the second most important thing the Defense Department uses in order to make its weapons systems. And we’re in a situation now where worldwide there’s a glut of copper,” Navarro told Schmitt. “There’s a dumping of copper into our markets. And we’ve lost our ability to both smelt copper, which is taking the ore and getting the raw copper and refine it into the products we need. And it’s a serious thing.”

    Source – Independent Journal Review

  • /

    Barrick Gold plans to change name

    ByVictoria
    0 Comments

    Barrick Gold (NYSE:GOLD) said Monday it plans to change its name to Barrick Mining, subject to shareholder approval at its upcoming annual meeting on May 6.

    The company expects to change its NYSE ticker symbol from GOLD to B, effective at the start of trading on May 9; Barrick (NYSE:GOLD) common shares will continue to trade under the ABX symbol on the Toronto Stock Exchange.

    Source – Seeking Alpha