|

Gold Hits Record in Volatile Session

ByVictoria

“Until we see clarity on the US policies, both trade-related and economic, it will create an environment for increased levels of gold volatility,” said Joseph Cavatoni, senior market strategist for North America at industry lobby the World Gold Council. “So, while we might see a $3,000 gold price, we expect there could be ongoing movements that bring us back below.”

Spot gold was down 0.1% at $2,905.73 an ounce at 10:28 a.m. in London, after rising to as high as $2,942.68. Silver, platinum and palladium were all lower. The Bloomberg Dollar Spot Index was steady after climbing on Monday. 

Source – Bloomberg

Similar Posts

  • /

    Arizona Sonoran Copper Company finalizes offering

    ByVictoria
    0 Comments

    Arizona Sonoran Copper Company has successfully closed a public offering, raising C$51.75m ($37.6m) through the issuance of 25,875,000 common shares.

    This includes 3.3 million shares from the full exercise of the over-allotment option by underwriters. Priced at C$2 per share, the offering is a strategic move to secure financial stability for the company’s upcoming projects.

    Source – Mining Technology

  • /

    Copper outputs up amid tariffs

    ByVictoria
    0 Comments

    BHP warned Thursday that a tariff war could slow the global economy and disrupt world trade, as the world’s biggest miner reported a slight decline in quarterly iron ore production and a 10% rise in copper output due to higher volumes from the giant Escondida mine in Chile.

    “Despite the limited direct impact of tariffs on BHP, the implication of slower economic growth and a fragmented trading environment could be more significant,” CEO Mike Henry said. “China’s ability to shift toward a consumption-led economy and for trade flows to adapt to the new environment will be key to sustaining the global outlook.”

    Source – Seeking Alpha

  • / /

    2 new gold ETFs launched

    ByVictoria
    0 Comments

    New Delhi, Jul 10 (PTI) Gold Exchange Traded Fund (ETF) attracted a net sum of Rs 2,081 crore in June, making it the highest monthly inflow in five months, driven by resilient prices of the yellow metal, geopolitical uncertainties and volatility in equity markets.

    “The robust inflows in June indicate a decisive shift in sentiment, likely supported by resilient gold prices, geopolitical uncertainties, and volatility in equity and fixed income markets, which have revived gold’s appeal as a safe-haven asset,” Nehal Meshram, Senior Analyst-Manager Research, Morningstar Investment Research India, said.

    In June, two new Gold ETFs were launched, collectively mobilising Rs 41 crore.

    “While the fund mobilisation through new launches remained modest, it adds to the broader recovery in flows and reflects steady investor interest in the asset class,” Meshram said.

    Source – rediff

  • US Treasury yields down

    ByVictoria
    0 Comments

    Investors are expecting a packed week of economic data starting with the Chicago Fed National Activity Index for January out on Monday at 8:30 a.m. ET. This will be followed by the Dallas Fed Manufacturing Index at 10:30 a.m.

    The most anticipated data for the week will be the personal consumption expenditure index, which will be delivered on Friday at 8:30 a.m. ET. The Federal Reserve’s preferred inflation gauge heavily influences the Fed’s rate-cutting decisions.

    Source – CNBC